Through AdvisorEngine and Charles Schwab, Financial Advisors Can Gain New Operational Efficiency and Provide a Delightful Client Experience

January 17, 2024 at 09:00 AM EST

New AdvisorEngine integration with Schwab’s iRebal® platform deepens portfolio management capabilities; streamlines trading and rebalancing workflows

Digital onboarding enhancements have created a comprehensive account opening and servicing solution through Schwab Advisor Services

Advisors and clients can each complete tasks; smart automation reduces processing errors and speeds up administrative actions; advisory firms can brand entire client experience

AdvisorEngine®, the financial experience company, continues to strengthen its wealth management platform to provide investment advisors control over their client experience and achieve greater operational efficiency.

AdvisorEngine announced a new integration with Charles Schwab's iRebal^® platform, one of the most adopted trading and rebalancing tools among registered investment advisors, according to the 2023 T3/Inside Information Software Survey. The company also rolled out new enhancements to benefit advisors and their clients utilizing its wealth management platform for digital account opening for Advisory firms that use Schwab Advisor Services as a custodian.

“We are building upon a long-term, productive relationship with Schwab Advisor Services,” said AdvisorEngine CEO Rich Cancro. “These industry-leading enhancements add new capabilities on top of our existing integrations with Schwab.”

New iRebal integration streamlines trading and rebalancing

AdvisorEngine is the first company to complete an integration with Schwab’s new Schwab iRebal platform.

Smart automation from AdvisorEngine eliminates several steps for iRebal users. Dual data entry is not required, as AdvisorEngine Portfolio Management automatically pushes model portfolio data and investment strategy assignments to iRebal. Changes made in AdvisorEngine are automatically reflected within iRebal.

“By tightly integrating iRebal into our broader portfolio management offering, advisory firms can drive new operational effectiveness as part of our fully connected wealth management platform,” Cancro said.

Comprehensive digital onboarding through Schwab

Schwab’s enhanced digital client onboarding includes a wide range of account types, including Trusts, IRA, Rollover IRA, Roth IRA, individual and joint accounts.

Within AdvisorEngine’s platform, all actions needed to onboard clients – profiling client risk tolerance, assigning models, creating an investment policy statement, document signing and delivery, cash movement and asset transfers – can be completed in a single, simplified digital workflow. Users do not need to move between different applications or enter information multiple times.

Traditional account opening and funding involves paper forms and creates time-consuming hurdles that frustrate clients and advisors alike.

This new digital solution addresses these major pain points and brings benefits including reduced not-in-good-order (NIGO) rates and increased operational clarity through status alerts and business intelligence dashboards.

Importantly, advisors have flexibility in how they collaborate with clients. Through mobile devices, tablets or desktop computers, advisors or their clients can enter new account information, money movement and account transfer instructions. Advisors’ clients can digitally sign through eAuthorization technology. Users do not need to move between different applications or duplicate entry of information.

Upcoming webinar

Michael Pendergrass, senior relationship manager for third-party solutions at Schwab, will discuss the newest capabilities available through AdvisorEngine on February 22nd at 2 PM EST. To register for the webinar, those interested can visit: https://www.advisorengine.com/advisorengine-schwab-partnership

“We are proud to serve hundreds of wealth management firms through our ongoing innovation and partnership with Schwab,” said AdvisorEngine Chief Operating Officer Craig Ramsey. “Collectively, we are delivering technology that is connected, approachable and scalable.”

About AdvisorEngine®

AdvisorEngine powers financial advice that is personal, scientific, and beautiful. Its wealth management technology platform uses smart automation to modernize the advisor experience (AX), the business operations experience (BX), and the client experience (CX). Capabilities include CRM, a portfolio management suite and a client portal.

Based in New York, NY, and Raleigh, NC, the AdvisorEngine team strives to fulfill six ideals through their work: camaraderie, clarity, curiosity, creativity, crushing it, and celebration.

AdvisorEngine is a wholly owned subsidiary of Franklin Resources, Inc., a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. For more information, please visit advisorengine.com and follow us on LinkedIn, Twitter and Facebook.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately $1.54 trillion in assets under management as of December 31, 2023. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.