Investment Product and Service Launches

Schwab Offers New Tools to Help Workers Manage Student Loan Debt

Schwab Retirement Plan Services announced new student loan resources available to 401(k) plan participants through an agreement with Vault, a student loan and education benefits platform incorporated as Student Loan Benefits Inc.

Vault Advisor is a digital platform that lets employees view and aggregate student loan information. They can access education to help them evaluate different strategies for lowering monthly payments, paying off loans faster and refinancing loans.

“With student loan payments set to resume in October, we know the topic is top of mind for many workers, and we’re excited to add Vault Advisor to our suite of financial wellness resources,” Adrian Miguel, director, advice, Schwab Retirement Plan Services, said in a statement. 

Title corrected for Adrian Miguel.

Schwab Introduces Differentiated Experiences to Support High-Net-Worth Investors

Charles Schwab & Co. Inc., announced the launch of branded and differentiated client experiences for high-net-worth and ultra-high-net-worth clients.

Retail clients with more than $1 million in assets at Schwab will be automatically enrolled in Schwab Private Client Services, and clients with more than $10 million will be enrolled in Schwab Private Wealth Services. Both programs provide a complimentary suite of benefits such as pricing advantages and other rewards.

“These new experiences reflect our commitment to deliver meaningful differentiation for the growing number of wealthy clients we serve,” said Jonathan Craig, managing director and head of investor services at Charles Schwab.

CapIntel Launches Proposal Builder for Compliance With SEC Marketing Rule

CapIntel Inc. announced the launch of a proposal builder allowing financial advisers to create investment presentations that comply with the SEC’s Marketing Rule.

“CapIntel’s customers and partners can rest assured that tailored proposals deliver knowledge and perspectives while staying within the parameters of regulatory requirements,” James Rockwood, founder and CEO of CapIntel, said in a statement.

CapIntel’s proposal generation builder includes a range of controls to assist registered investment advisers in meeting the key requirements outlined in the Marketing Rule. CapIntel’s functionality also allows RIAs to “hardwire” necessary disclosures into presentations, ensuring that financial professionals include required information when creating proposals. 

Penny Finance Adds Automated Money Insight to Financial Mentorship Platform for Women

Penny Finance, an online financial mentorship platform for women, announced the launch of automated account integration with Plaid Inc., allowing for improved money insights.

Penny’s new feature enables women to link their bank accounts, and receive regular, personalized financial reporting delivered to their email inbox.

“Managing your finances should be easy,” Crissi Cole, CEO and founder of Penny Finance, said in a statement. “You shouldn’t have to dig through statements, read a finance book, or ask your dad how to manage your money. We are so excited to take the guesswork out of managing your money for the most high-potential group of investors out there: women.”

Morgan Stanley at Work Launches Deferred Compensation Technology Solutions

Morgan Stanley at Work now offers deferred compensation technology solutions to support plan sponsors and participants, from recordkeeping, to digital enrollment, plan management and reporting.

The firm has made technology enhancements to its stock plan platforms, Equity Edge Online and Shareworks. For both EEO and Shareworks, Morgan Stanley financial advisers now have increased visibility to access stock plan details when private company participants engage an adviser.

 “These latest updates help us continue to drive deeper automation—knowing this helps businesses and their participants achieve even more,” Mark Mitchell, chief product officer of Morgan Stanley at Work, said in a statement.