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
J L Livermore
Brooke,
“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.
JLL
Brooke Southall
JLL,
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.
Brooke
J L Livermore
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.
JLL
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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