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Schwab adds element to plug-and-play technology with eye toward existing RIAs, not just fresh wirehouse recruits

NetDocuments will put electronic files right into the CRM window for RIAs using Schwab OpenView Integrated Office

Author Brooke Southall October 26, 2012 at 3:59 AM
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Brian Shenson: It's getting more looks (from legacy RIAs) as we add value.

RIA Custodians



Bill Winterberg

Bill Winterberg

October 26, 2012 — 11:54 AM

One side comment about web-based document management systems like NetDocuments.

More advisors are using video in their marketing collateral, and that video needs to be archived because of regulatory requirements.

One issue with web-based solutions is the challenge of uploading and storing huge video files online. For systems that charge by the gigabyte, that gets burned up quickly by video files. Not to mention the hours it can take to upload all that video.

It’s not a negative specific to NetDocuments, but something to consider for any web-based program.

Leonard Johnson

Leonard Johnson

October 29, 2012 — 3:44 PM

I would like to comment on the section related to NetDocuments features. NetDocuments is designed as an enterprise-level document management and as a result has the most sophisticated full text searching and digital records management capablity in the market. It handles work-in-progress for creating, editing and sharing documents, e.g. MS Office apps and Outlook as it does with PDF. It has feature-rich Outlook integrations for capturing emails and archving them as they relate to the client correspondence. RIAs users regularly scan, OCR and manage their firm’s documents as well as client documents and its very easy to create a client portal or client sharing folder at any time. NetDocuments works with the any popular scanner for uploading directly from within the interface, such as in a folder. It has digitial signatures, approvals and automatic email notifications on change management—all built-in.

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