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Schwab PortfolioCenter may be poised to shed its utilitarian image

Long a favorite for the small RIA, its spiffier reports and early admission in Schwab's grand technology plan give it a bigger future

Author Heather Underwood and Brooke Southall September 17, 2010 at 3:15 AM
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Mike Williams: We’ve been completely rewriting our reporting capability to get it up to this day and age.

Bill Winterberg

Bill Winterberg

September 17, 2010 — 10:38 PM

This is a needed update for Schwab Performance Technologies® PortfolioCenter®, as they were behind the curve compared to performance reporting engines such as <a href="http://www.assette.com/ProductEasyReportsTO.asp" rel="nofollow">Assette EasyReports.</a>

Granted, Assette is not an accounting system, but their report design interface is built using Microsoft PowerPoint template files. If you can make PowerPoint slides, you can make custom performance reports; there’s almost no learning curve.

But where Schwab can add value is the delivery of reports after production. Once reports are generated by PortfolioCenter, then what?

It would be nice if a feature similar to <a href="http://www.trumpetinc.com/svc_assemblage_details.jsp" rel="nofollow">Trumpet’s Assemblage</a> was added, where batch processed reports were collated with cover letters and invoices and automatically uploaded to the advisor’s secure document vault for client delivery.

If Schwab were to add that kind of report delivery function, now you’re talking about a truly scalable reporting solution for the most innovative of advisory firms.

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

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