The latest digital and technology innovations, product and service developments in the world's wealth management sector.

Schwab Advisor Services
Schwab Advisor Services has developed a new app integration with Salesforce Financial Services Cloud, upgrading the services for registered investment advisors on the Schwab platform, Charles Schwab said earlier this week. 

The integration is due to go live in the second quarter of this year, the firm said in a statement.

This new app will replace an existing app and support advisors using Salesforce Sales Cloud.

“Independent advisors who custody with Schwab have been actively requesting this integration, so it’s an important milestone on our roadmap when it comes to third-party technology,” Kartik Srinivasan, director, third-party integration, Schwab Digital Advisor Solutions, said. 

With this new integration, advisors on Schwab’s platform can do the following: initiate digital onboarding, including account opening, and changing addresses; view and incorporate real-time data on client account profiles, balances, and positions; and access status and receive alerts from Schwab Advisor Center on various actions, including moving money, account opening, and service requests.

Schwab said that it will be continually adding extra capabilities for advisors.

“The financial advice industry is becoming increasingly competitive. Client experience is a critical differentiator for winning clients and building trust over the long term,” Eran Agrios, general manager and senior vice president, Salesforce Financial Services, said. “[The integration] It also will help extend the value of Financial Services Cloud for independent advisory firms by improving advisor productivity and by increasing operational efficiencies.”