Products September 1, 2009

Schwab Debuts New Web Site for Independent Advisers

Investment advisers who custody with Charles Schwab can now access a Web site boasting more intuitive tools to manage client accounts.

Reported by

Schwab Advisor Center, located at www.schwabadvisorcenter.com, integrates with Schwab Data Delivery (formerly SchwabLink), the company’s data files delivery and data management application. Schwab said the platform enables advisers to create custom account groups and organize data by household and portfolio model. Advisers have the ability to access aggregate balances and positions for households and groups of up to 200 accounts; sort, resize, and export data tables to customize views; and search accounts.

“We worked hand-in-hand with many of our adviser clients on the design and features of the new site to more closely mirror how they actually work,” said Steve Hirsch, vice president of Institutional Web Services at Schwab. “The new site provides them with the information they need, when and how they need it. By adapting to their work practices, the new site enables advisers to save time and serve their clients more efficiently.”

An early version of the site was first introduced to advisers last September, and in June another 56 adviser firms began using the site in pilot mode. Hirsch said the Web site will continue to evolve and improve over time, and that advisers will be given ample time to transition from the existing site to the new one.

A “What’s New” section includes online training resources, such as tutorials, quick reference guides, FAQs, and a new Help section. Additionally, Schwab said Webcast tours will help advisers transition to the new site, and service teams can help advisers learn capabilities of the new site.

The launch of Schwab Advisor Center is one of several technology and service investments Schwab announced in June (see “Schwab Waives Some Fees, Plans to Add Tools for RIAs”).



Products September 1, 2009

Firm Introduces Roth Conversion Package for Advisers

Advisors Trusted Advisor now offers the Roth 2010 Conversion Package, containing marketing tools, education materials, and a Roth conversion tool.

Reported by

Advisor Trusted Advisor, a provider of practice management tools to registered investment advisers (RIAs) and wealth managers, said the package is available through the Roth 2010 Advisor Portal. The package includes: workshops for current and potential clients; PowerPoint presentations; business-building strategies and tactics; information about how financial advisers can position themselves as retirement experts; and access to the Roth IRA Conversion Optimizer.

The company said its Roth Conversion Optimizer, developed by Archimedes Systems Inc. and Convergent Retirement Plan Solutions, considers many factors, leading to a recommendation to convert anywhere from zero to 100% of traditional IRA assets to a Roth (see “Web-Based Tool Helps Advisers Perform Roth Conversion Analyses”).

Starting on January 1, taxpayers with a modified adjusted gross income of more than $100,000 will be allowed to convert a traditional IRA to a Roth IRA, the firm noted. “The advent of these new tax laws presents a unique opportunity for people in the wealth management industry to demonstrate their expertise in what will be an intricate decision,” said Michael Slemmer, principal at Advisors Trusted Advisor.

More information is available at www.advisorstrustedadvisor.com.

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