By Joel Bruckenstein & Charles Fernandes

For those of you unfamiliar with AdvisorEngine, it is a comprehensive wealth management platform providing a suite of technology-based services that empowers advisory firms to grow, deliver, and scale. The AdvisorEngine platform is designed to streamline daily tasks and improve operational efficiency. AdvisorEngine offers a modular suite of tools including CRM, performance reporting, fee billing, rebalancing, digital onboarding, a client portal, and business intelligence. 

The AdvisorEngine platform equips advisors with the digital tools that automate workflows and enhance the advisor-client relationship. 

The collaboration between AdvisorEngine and Schwab is focused on enhancing the value for advisors through a variety of features and capabilities. The AdvisorEngine portal has both an advisor side and a client side with platform features including proposal generation, client profiling, digital account opening, portfolio reporting, trading and rebalancing tools, fee billing, a white-label client portal, as well as the AdvisorEngine CRM (formerly Junxure CRM). 

Here are some of the key advantages of the integration:

1. Custodian Connectivity: A key strength of AdvisorEngine’s wealth management platform is that it ensures a superior advisory experience for clients, guided by a streamlined digital onboarding and account opening process, with automated data feeds for accurate reporting.
2. Digital Onboarding Enhancements: These enhancements have created a comprehensive account opening and servicing solution through Schwab Advisor Services. Advisors and clients can each complete tasks, and smart automation reduces processing errors and speeds up administrative actions. Schwab’s enhanced digital client onboarding includes a wide range of account types, including Trusts, IRA, Rollover IRA, Roth IRA, individual and joint accounts.
3. Integration with iRebal: This is the industry’s first integration with the iRebal, the portfolio rebalancing platform offered by Schwab Advisor Services. Integration with iRebal provides features such as tax-aware, household-level rebalancing, dynamic tax-loss harvesting, and extensive cash management. The new syncing system uses existing Schwab Advisor Center, runs in the background with changes are visible in iRebal in minutes. Best of all, models are checked to be “In Good Order” BEFORE synchronizing to iRebal – and any issues with syncing generates service alerts.
4. Optimized Account Administration: Through the Schwab integration, AdvisorEngine is able to provide efficiency and scale. An outdated manual client onboarding process is replaced with a seamless, digital experience. Clients are presented with a single digital envelope that includes Schwab forms and advisory firm forms for digital signature via DocuSign. Custodian requirements are built into workflows, limiting NIGOs. Client onboarding is built on a repeatable foundation. Built-in tracking for operations and compliance oversight and the ability to choose between advisor-led or client-led processes for account opening and maintenance provide maximum flexibility.
5. Integration with Schwab Advisor Center: The integration takes full advantage of Schwab application programming interfaces (APIs) and single sign-on (SSO) functionality, delivering smart automation that saves time for advisory firms and helps elevate the client experience.

The chart below illustrates the extent of the Schwab/AdvisorEngine integration: 

The depth of the Schwab/AdvisorEngine integration represents a big leap forward for AdvisorEngine clients that custody at Schwab. It will provide for a better client experience, a faster, less error-prone account opening process as well as accurate digital reporting.