Schwab Advisor Services Hosts Second Technology Forum for Third-Party Technology Providers Serving Independent Advisors
Schwab Advisor Services recently hosted a two-day virtual Technology Forum for over 150 independent advisor technology professionals, focusing on the integration of Schwab and TD Ameritrade's custody platforms ahead of a planned conversion in 2023. Key updates included advancements in third-party technology integrations, with Schwab currently partnering with over 180 technology products. The forum highlighted the importance of these integrations for financial planning and compliance as API usage by advisors grew over 30% since 2020. Schwab emphasizes its commitment to supporting technology partners during the transition.
- Hosted a successful Technology Forum with over 150 attendees from more than 70 firms.
- Partnership with over 180 technology providers enhances service offerings to independent advisors.
- API usage increased by over 30% since 2020, indicating strong adoption of technology solutions.
- None.
Two-day event shared Schwab/TD Ameritrade Institutional custody integration roadmap and outlined support for technology integration partners ahead of 2023 conversion
Third-party providers on both the Schwab and TD Ameritrade Institutional technology platforms offer RIAs a broad array of business-critical solutions, including financial planning, CRM, portfolio management, research and analytics, cybersecurity and compliance, among others. For several years, Schwab has been consistently expanding the number and type of integrations that are available to advisors. It currently integrates with over 180 technology products that provide solutions for independent advisors, delivered via a broad range of integrations including direct data feeds, single sign-on, trading integration and API integration.
“The third-party technology ecosystem that serves independent advisors is vibrant and growing and it continues to be a top priority for our team at Schwab. As we work to integrate the two custody platforms, we are capitalizing on the exciting opportunity to reflect the strengths of both firms on this front,” said
API usage by advisors continues to see strong growth on Schwab’s platform, with a more than
“As we now look ahead towards conversion in 2023, we know it is critical for the third-party ecosystem to be ready and so we have invested in people and resources, and have mapped out actionable steps, to help technology providers prepare for the transition to the combined platform well ahead of advisors’ day one,” Srinivasan added.
The Schwab and TD Ameritrade teams supporting third-party technology providers have been working together since early this year and since then have been expanded to meet the growing needs of this key business priority. The team currently encompasses product managers, third-party relationship managers, integration specialists and contract managers.
“We are committed to working hand-in-hand with our third-party technology partners to make sure they continue providing what advisors need today but are also ready for the steps they need to take as we bring the platforms together,” said Srinivasan. “This is an exciting time as we work to establish a new standard for what advisor custody can look like and we know third-party integration partners are critical to how we serve advisors going forward.”
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Disclosures
Through its operating subsidiaries,
TD Ameritrade Institutional,
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Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support of Schwab.
Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. For informational purposes only.
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