Balances / Positions / Transactions

Purchased money market fund balances now visible at the account level

Purchased money market fund totals are now visible on the balances page of each account for which the owner holds a purchased money market fund position. This offers a more comprehensive, consolidated view of cash and cash investments in a single location.

This enhancement reflects the increased importance of these funds in many client portfolios, and is designed to make it easier to manage routine account tasks.

May 2019 (0519-9S1M)

Use the age filter to find a list of clients who still need to take their RMD

As tax season approaches, remember that you can use the Required Minimum Distribution (RMD) tab on Schwab Advisor Center® to give you important insights into your clients’ retirement accounts.

One helpful feature for this tax season is the ability to sort based on age, so that for clients aged 70 ½ or older, you can help them plan their RMD accordingly.

In addition to the age filter, the RMD tab shows you:

  • Which of your clients’ accounts have minimum distributions for the current year
  • The total amount of the required distribution for that account
  • The amount that has already been distributed year to date.

As with other tabs on Schwab Advisor Center, you can customize to ensure that you are viewing only the data you need.

March 2019 (0319-9X49)

Scan and deposit checks up to $1 million in client accounts

Using our Advisor Check Deposit tools, you now can scan and securely deposit checks up to $1 million directly into your clients’ brokerage accounts. Previously, the limit was $250,000.

This is part of our ongoing efforts to make it easier to meet your clients’ needs. To learn more about using the Advisor Check Deposit system, download our interactive guide.

January 2019 (0119-8V33)

A more modern design and a number of enhancements

We have recently updated the look and feel of the Schwab Advisor Center Mobile app, and made a number of changes to make it easier for you to keep up-to-date with your clients’ accounts when you’re on the go.

In addition to the more modern look of the app, you’ll also find the following enhancements in the latest version:

  • You will remain signed in when you switch to another app, so we have removed the Multitasking setting.
  • Display includes more detail about bank sweep accounts.
  • Account search display and navigation have been improved, along with a more modern look of the app.

You’ll find the latest version of the app on the iTunes and Google Play stores.

December 2018 (1218-8FPD)

New RMD tab lets you review clients' required minimum distributions

The new RMD (Required Minimum Distribution) tab offers important insights into your clients' retirement accounts. When you select this tab, you'll get at-a-glance understanding of:

  • Which clients' accounts have minimum distributions for the current year
  • The total amount of the required distribution for that account
  • The amount that has already been distributed year-to-date.

As with other tabs on Schwab Advisor Center®, you can customize this screen to ensure that you are viewing only the data you need.

July 2018 (0718-8SUV)

Learn where you and your clients can find important Bank Sweep balance information

Schwab recently introduced an enhanced version of the Bank Sweep feature that will provide up to $500,000 of extended FDIC insurance coverage to clients with cash balances held in domestic accounts, leveraging both Charles Schwab Bank® and Schwab Signature Bank.

Once any cash balance reaches a threshold near the maximum coverage level for one bank, excess cash will be swept to the next bank automatically. You and your clients will not have to manage balances, and the dollar amounts held at each bank will appear clearly on statements.

We've created an illustrated overview highlighting the places where you and your clients can find Bank Sweep information, as well as a clickable guide to the longer-term plan for Schwab to add additional banks, each of which will offer separate FDIC insurance. As a result, the amount of insurance available on clients' uninvested cash will increase incrementally.

February 2018 (0218-8T9W)

Clients can now view third-party disbursement notifications within Schwab Alliance

In our ongoing effort to offer secure, paperless document options to your clients, electronic third-party disbursement letters are now viewable on Schwab Alliance.

Previously, clients received all confirmations for third-party checks, journals, and wires in paper form. Now, clients enrolled in paperless statements and account documents will automatically be enrolled to receive their third-party disbursement letters electronically. Clients will receive an email directing them to view these documents within the new Letters section of the Statements & Reports tab.

Going paperless provides more convenient and secure document delivery compared with paper-based versions. We encourage you to talk to your clients about signing up for paperless document delivery—you can even initiate the process for them from Schwab Advisor Center®. Learn more by visiting our Service Guide .

February 2018 (1217-7ZXJ)

eApprovals—the fastest, easiest, most secure way to move money

The Move Money eApproval tool can now be used for journals, along with checks and wires. With this addition, you can leverage the safety and security of these tools to send all your clients’ most important Move Money tool requests for their approval in minutes via the web or their mobile device.

To get a high-level overview of the process for both you and your clients, watch this brief video. Once you're ready to get started, use our screen-by-screen clickable guide to take you through each step.

We look forward to providing additional webcasts, tips, and other materials to help you get the most out of these tools over the coming year.

February 2018 (0218-8T9W)

Scan and deposit client checks electronically

The new Advisor Check Deposit feature lets you scan and deposit checks into your clients’ brokerage accounts using popular desktop scanners.

Watch this video, review the Quick Start Guide, and consult the Service Guide for more information on compatible scanners, proper storage and disposal of scanned checks, and more.

July 2017 (0717-7YVT)