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Schwab unveils a plan to create a grand ecosystem of top technology vendors to RIAs

Executives of the San Francisco RIA custodian believe they can take integration further than Fidelity's WealthCentral

Author Brooke Southall May 11, 2010 at 6:08 AM
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Neesha Hathi: No one in the industry is doing anything like this.

Women of Wealth Management



Bill Winterberg

Bill Winterberg

May 11, 2010 — 5:06 PM

Subscribing to a technology platform offered by a custodian is a double-edged sword. One one hand, advisors benefit from integrated software that minimizes redundant data entry.

But on the other, advisors may become captive to the custodian, leading to potential issues with the way advisors manage their business.

Remember when it took Schwab over a year to address support of alternative investments on its platform? See <a href="http://www.riabiz.com/a/851003">After a wait, Schwab has a program for alternative assets</a> at RIABiz.

Though I suppose there isn’t any reason why advisors couldn’t purchase the “Project C approved” software programs independently to remove the dependence on Schwab. It just may be more expensive to buy them outside of the Project C program.

Bill @ <a href="http://fppad.com">FPPad.com</a>

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