Custody provider rolls out data-processing component of broad upgrade. Independent advisors who custody assets with Schwab have access to a new web-based service that's meant to help them use client data more efficiently. Advisor Center, as it's called, meshes with Schwab's data-management application Data Delivery, formerly SchwabLink.

"We worked hand-in-hand with many of our advisor clients on the design and features of the new site to more closely mirror how they actually work," says Steve Hirsch, v.p. of Institutional Web Services at Schwab. "The new site provides them with the information they need, when and how they need it."

Something bigger

Using Advisor Center, advisors can:

Create custom account groups and organize data by household, portfolio model and more Navigate and access information easier, and more intuitively Search and browse to find accounts more quickly and easily Access aggregate balances and positions for households and groups of up to 200 accounts Safeguard client information by setting permissions for the functions, account information and data each employee can access Sort, resize and export data tables to customize views Schedule automatic downloads and view historic balances and positions

A "What's New" section of Advisor Center provides access to training and reference guides, and to live and recorded webcast tours. Advisors can also call on service-team members and technical-support specialists to get up to speed on the data-processing engine.

Advisor Center is part of a larger roll-out of enhanced services for independent advisors who work with Schwab. In addition to waiving commissions on electronic equity trades for new accounts through June 2010, the firm plans to offer enhanced communications, custody-management training for back-office personnel and best-practice consulting by the end of this year.

San Francisco-based Schwab has more than 300 offices and 7.6 million client brokerage accounts, 1.5 million corporate retirement plan participants, 619,000 banking accounts, and $1.3 trillion in client assets. -FWR

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