Schwab Advisor Center™ Overview

Submitted by mark.mcdermott on May 17, 2018

Speaker 1:
Welcome to the Schwab Advisor Center Overview™ training videos. The goal of these videos is to give new firms and prospects a general overview of the schwabadvisorcenter.com capabilities. In today’s session, we will focus on general navigation of the site, and also spend some time drilling into the “Accounts” tab to give specific information that’s available in that particular tab of the site.


Speaker 1:
So, general navigation. The website is driven by main tabs across the top: “Accounts,” “Trading,” “Move Money,” etc. Underneath the main tabs live subtabs which allow you to drill into specific information about that particular feature and functionality of the website. On the navigation side, everything is controlled on the “Associated & Recent Items.” Everything falls underneath your advisory firm. Again, information is categorized by master account, and also by individual subaccount. So, in this example here, we’ve got an example of a master account. If I click on the master account (This is the firm level information.), you’ll see the individual subaccounts that make up this master or live underneath that. Also, “Recently Displayed” allow you to quickly get to the last 25 master or subaccounts that you’ve had access to. So, an example. If a client calls you back on the phone, you quickly link on their account; you get to their information.


Speaker 1:
So, from the navigation side, let’s drill into the “Accounts” tab and get more information about the capabilities. Underneath “Accounts” is where advisors gain information at their firm level, and also individual account level. It’s also where you gain information from Schwab in the form of “Alerts,” and also “Status” where you have insight into workflows that are happening on the Schwab side on your behalf. So, if we take a look at the “Alerts” tab, and this is where electronic notifications are created by the Schwab platform to let you know that things are changing about accounts or that you need to take action. So, two perfect examples would include account address change, insufficient accounts, or, in the case of a corporate action, you would get a notification that something has happened to that particular account.


Speaker 1:
The great thing about “Alerts,” depending on your role in the firm, you can actually customize the alerts to determine which ones you want to seed depending on your role in the firm. Very easy to do. If you click on the “Customize” link here, you’ll quickly see a list of all the alerts available through the system, and then you just select the alerts that you want to see, and then you can actually view these alerts on the website or you can actually have the system send you an email to let you know the alert has occurred. Once you’ve selected your preferences (and, again, these are specific to your login), you click “Save Changes,” and that information will now be available to you just for those alerts you’ve selected.

Speaker 1:
Next thing I’ll take a look at is the “Status” tab. Again, as you’re working with Schwab, having access to information that is occurring on your behalf is critical. So, the “Status” tab allows you to have quick access to some major tasks that happen on your behalf. A couple of examples include new accounts opening. So, as new accounts are opening, paperwork has to be filled out; paperwork has to be processed. So, having access to see where that information is in the workflow is vital. Here’s where you’d find that information. Another example would be transfer of accounts. As you open up a new firm with Schwab, chances are a number of accounts will be transferring from other custodians. Where are your accounts… Where are your clients in that process? This is where you’d have access to that information. Last but not least, “TradeAways.” If you’re making trades on behalf of your clients at other firms, this is where you’d come and review that information, approve or reject.


Speaker 1:
So, now, let’s take a look at the “Balances” capability of the website. Now, as I mentioned before, on the “Accounts” tab, you have access to information at the firm level or the individual account level. So, if I want to see the information at the firm level, I would choose a master account. We’ll choose this option and you’ll see the system will give you access to all the accounts that live in that master, so you can quickly see total account value, cash in the account, and long positions. If I want to see that information for an individual account, I would just choose one of the individual accounts on the left-hand side here, and that would come up specific to this particular client in the account. So, again, I’ve got cash balances, total value of the account, margin capabilities, etc.


Speaker 1:
Next, if we take a look at the “Positions” tab, this will show the actual individual holdings that are held by this particular client. We’ll see this client has three mutual funds and an individual stock. But also, if I wanted to see at a firm level what information was in all of my accounts, again, I would just click on the master account and now the view would actually give me access to everything in my firm. And I can quickly drill into a particular quantity to see which clients hold that particular individual investment.


Speaker 1:
Next, under “Transactions,” this will allow me to quickly have access to transactions that have occurred in an individual client’s account. I can filter it by date ranges that are predefined here in this dropdown list. I can customize date ranges. I can choose the activity types that I want to see or I can actually sort by a particular symbol. Great thing about the screen is it can easily be export it out to a spreadsheet to allow me to have access to work with the data.


Speaker 1:
Next, under “Cost Basis,” and this is where I have quick access to a tax information about individual accounts. The great thing as you transfer accounts over to Schwab, trade lot cost basis information comes over in a ACAP transfer process. So, you will have access to that information at Schwab as you set up new accounts. If I want to see actual lots that make up the total cost, I just click on the “View Lots” and see the individual lots that are underneath that particular position. I can also see realized gain loss information. Again, we track the current view is by current year, or I can also quickly choose previous years to see any positions that were sold and what tax implications those might’ve had.


Speaker 1:
Next, we also have the “Documents” tab, which allows me to have quick access to statements, brokerage statements that any client may be seeing. If a client calls and has a question about a statement, I can quickly come in and pull up the statement by clicking on the link, and here we have our particular statement. Also, I have access to firm-level statements. So, if I go back and, again, choose my master account, I have the ability to download a PDF that has a batch of all my client’s statements in one file that I can easily print out or save off.


Speaker 1:
And the last thing we’ll highlight is our “Profiles” tab. Profiles really give us access to account registration information. When I’m on my master account, I get a list of all my clients and the different fields of information. Again, I can customize which columns I want to see here. I can easily export that information. If I go back and select an individual account, it gives me the general information about that individual portfolio, from account information, account preferences, cash margin preferences, document delivery, etc.


Speaker 1:
Now, this has been a general overview of [schwabadvisorcenter.com] when it comes to the navigation side of the site, and also the “Accounts” tab. For more information about other features and functionality of [schwabadvisorcenter.com], please visit some of the other videos we’ve made available. Thank you.
 

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