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Revamping its trading platform, Schwab at long last is poised to catch up with its smaller peers

The giant RIA custodian explains it deliberate pace as a balancing of innovation with the veracity of the existing platform

Author Lisa Shidler September 7, 2012 at 4:29 AM
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Kevin Kraus: This is the bread and butter of our platform.

Mr. Jesse Livermore

Mr. Jesse Livermore

September 7, 2012 — 6:22 PM

Ms. Shidler,

Pardon me but the “oh-so-slow-but-steady” is now recognizably in reverse.

On May 10, 2010 Schwab announced “Project C” as a preemptive strike against TD Ameritrade’s API – the world was promised, but what has really been delivered?

Subsequently in June of 2010 your editor and chief wrote an article entitled “Schwab’s Project C now has two tiers and three new names” which already set the stage for “here we go again”.

Finally in June of 2012 another article appeared here entitled “Schwab shifts its strategy on its massive Intelligent Integration” once again confirming the general direction was reverse.

One cannot help but wonder at the lack of commitment by Schwab executives to deliver on what has been promised. The CRM offerings are lackluster and too cumbersome for most firms. The rest of the “Project” has just fallen over in an ignominious death.

On the other hand:

Fidelity is sticking to its guns 'Wealth Central is our solution’ – sure.

Pershing remains quiet since NetX360 was touted to be the next best thing as an Apple product – my apologies to Apple for having to say that. However Pershing clients will tell you just how horrible 360 really is.

Cometh the deliverer TD Ameritrade. TD has actually managed to live up to its commitments and delivered product and set the stage for some very interesting battles between custodians and vendors.

The stage has been set for commodity applications availability. It will be interesting to see who are the winners.


Craig Iskowitz

Craig Iskowitz

February 18, 2013 — 3:02 AM

TRX co-founder Sheryl Rowling was part of a panel discussion along with iRebal, Tamarac and TradeWarrior on the benefits of portfolio rebalancing software for advisors at the Technology Tools for Today (T3) conference last week in Miami. She talked about the best way to explain how software automation improves advisor productivity, as well as TRX pricing and integration options. Check out what she and the other three rebalancing software providers had to say here: http://wp.me/pPor1-rZ

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Mentioned in this article:

Top Executive: Benjamin Welch

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

E*TRADE Advisor Services
Asset Custodian
Top Executive: Joshua Pace

Consulting Firm
Top Executive: Bill Winterberg

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