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Bernie Clark promises Schwab is getting there on its PortfolioCenter rewrite but competitors say the clock is ticking

Rivals cite lingering challenges for the ubiquitous software but its custody platform tie-in is a difference-maker, Joel Bruckenstein says

Author Brooke Southall July 25, 2014 at 11:36 PM
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Bernie Clark: We're going to rewrite the whole portfolio management tool.

J L Livermore

J L Livermore

July 31, 2014 — 9:46 PM


“Bernie Clark promises Schwab… PortfolioCenter…”. Now when have I heard that before. Unfortunate Addepar took another $50MM Schwab might have made a play for it.


Brooke Southall

Brooke Southall

July 31, 2014 — 11:34 PM


You may have heard that with regard to Schwab Intelligent Integration. Schwab isn’t necessarily all Type-A-ish
about deadlines and measuring sticks when it comes to software. The way I have heard Schwab execs put it before is that they aren’t going to rush to create technology that RIAs aren’t asking them for. That brings up sticky questions about how much Schwab should be leading advisors or taking cues from them, a delicate equilibrium hard to assess externally.


J L Livermore

J L Livermore

August 6, 2014 — 5:02 AM

Mr. Southall,

Rushing to create something that RIAs aren’t looking for is one thing, promising to deliver and… is another. Assessing the balance externally isn’t hard. Behemoths like Schwab and its brethren have lost their ability to innovate. Their product development teams are covered in so many layers of management goo they can’t breath so the talent pool becomes comfortably numb. In my opinion custodians should not be developing software for anything more than the minimalist needs to support their platforms. Leave the innovating to the hungry little piranhas out there who get it and can get it done.


PS. Can’t you make the article banner at the top of the home page scroll so we can go pre/post a weeks worth of articles with ease?

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