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
Bill Winterberg
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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