In this video spotlight interview, Brian Shenson, vice president of Advisor Technology Solutions for Schwab Advisor Services met with me to update Schwab’s progress on a number of technology initiatives.
(For details on last weeks’ Schwab Tech Talk conference call, read RIA technology updates from Schwab Advisor Services’ Tech Talk series.)
Brian Shenson, vice president, Advisor Technology Solutions for Schwab Advisor Services
PortfolioCenter Hosted
Clearly, Schwab Advisor Services recognizes the opportunity in offering advisers the ability to locate portions of their technology in the cloud.
The launch of PortfolioCenter Hosted, according to Shenson, is intended to simplify operations for advisers.
“We have over 3,500 advisers today relying on PortfolioCenter desktop, but they’re looking to simplify their operating model with cloud-based solutions,” said Shenson.
“PortfolioCenter Hosted allows [advisers] to have the same control and ownership of their data that they have today, but leverage Schwab’s backbone infrastructure to host their systems,” he added.
Schwab OpenView MarketSquare
I asked Shenson to elaborate on the resources Schwab provides when it comes to the various integrations supported by PortfolioCenter and other Schwab Intelligent Technologies’ resources.
Schwab OpenView MarketSquare is the latest resource Shenson highlighted to educate advisers on their technology purchase options.
“[OpenView MarketSquare is] not meant to replace other resources advisers rely on to learn about technology”, said Shenson, “but we think we have a unique opportunity to create voice to the adviser’s perspective on the technology they use to help inform other advisers before making that purchase decision for a particular technology.”
Schwab OpenView MarketSquare™ provides technology ratings and reviews, exclusively by and for advisors who custody with Schwab Advisor Services™
Visit Schwab OpenView MarketSquare online at http://www.schwabintelligenttechnologies.com/MarketSquare
OpenView Gateway versus Integrated Office
Finally, there still is confusion over the differences in the two primary back office offerings from Schwab Advisor Services, OpenView Gateway and the Integrated Office.
I asked Shenson to identify the type of advisory firm to which each solution is best suited.
“Many advisers have already made substantial investments in their technology infrastructure, and for them we wanted to work with best-of-breed providers and build integrations to those platforms. That is what we designed with OpenView Gateway,” said Shenson.
The alternate solution, Integrated Office, is a complete “office in a box” offering.
“Many advisers are looking for incredible simplicity in their operating model,” said Shenson.
“They’re looking to us as a provider to offer an integrated solution where all the pieces are designed to fit very well together. For them we offer the Integrated Office.”
Trackbacks/Pingbacks
[…] While this 7-minute FP Pad video feels like an “infomercial,” it contains some useful information from Brian Shenson, Vice President of Advisor Technology Solutions for Schwab Advisor Services on Schwab’s PortfolioCenter Hosted, Openview Gateway, and Integrated Office. Read the article here. […]