What's New: Other Enhancements
Schwab Advisor Center® has digital tools and resources to help you onboard new relationships, support your clients, and scale your business. Below you can learn about the latest enhancements and resources, or explore recent updates by clicking on a topic.
New enhancements provide more transparency for digital onboarding and deposits
As we continue to welcome new advisors to Schwab Advisor Center, we are listening closely to feedback and working quickly to deploy key enhancements across the platform. Here is a roundup of some of the latest updates we've launched based on your suggestions.
- You'll now receive messages on the Status page for any not-in-good-order or processing issues with your check deposits, making it easy to locate these issues among your other status updates.
- Previously, you received alerts only for check, wire, or direct deposits of $25,000 or more; now deposits of all dollar amounts trigger these alerts. In addition, you now receive alerts for insufficient funds related to IRA check requests.
- It's easier to see the edits clients have made when reviewing a digital onboarding or account management envelope. You can also now choose Level 2 options (spreads) with limited margin when opening IRA accounts with digital onboarding.
- A new feature lets you process qualified charitable deductions (at a 0% withholding level) without changing the account-level tax withholding elections.
These enhancements are in addition to our recent improvements to the user experience when using Schwab Advisor Center, reviewed in What's New from November 2023. What can you look forward to next in Schwab's tech ecosystem? Take a look at our roadmap of Schwab Advisor Center.
January 2024 (0124-4DB4)
Sort clients by last name, firm-level cash information, and other expedited enhancements based on your feedback
As we continue to welcome new advisors to our platform, we are listening closely to feedback and quickly working to deploy key enhancements across Schwab Advisor Center. Here's a roundup of some of the latest updates we've launched based on your suggestions.
- Sort by primary account holder's last name. You can now sort by the last name of the primary account holder on the Balances and Profiles tabs to make it easier to quickly scan client accounts.
- Reduced white space on core pages. Updates to the Balances, Positions, and Profiles tabs reduce white space to allow more data to be displayed, improving readability and providing a more compact, operationally efficient view.
- Account selector updates. Changes to the Account Selector reflect the latest feedback from advisors, including improved compactness by displaying more accounts when the Short view is active, more recently accessed accounts available on the Recent list, and a new quick link to Group Manager to help maintain your groups.
- Enable access to firm-level cash in and out information. From the Dashboard tab, you can now download an export of recent deposits and withdrawals for the current and prior business day at either the firm or individual master account level. This enables you to look across your accounts for incoming deposits that need to be allocated or outgoing cash transactions to be aware of. Note that the module and corresponding export is available only for firms or master accounts with fewer than 1,000 subaccounts.
What can you look forward to next in the Schwab tech ecosystem? Take a look at our roadmap of upcoming enhancements to Schwab Advisor Center.
November 2023 (1123-3N4A)
A new look and feel for Schwab Advisor Center
As you have probably noticed, we updated the style of Schwab Advisor Center's global navigation. The new color scheme and tab styles bring the site into line with Schwab's other web properties and are designed to make using the site's tools a more pleasing experience. The enhancements are all cosmetic—we have not made changes to functionality or our policies. We hope you enjoy the new, more user-friendly experience.
In addition, we have added an entry to the Profiles page, indicating the country in which client accounts are registered. This information is under the heading Jurisdiction Country and is visible in both the account view and the account holder view. For foreign-domiciled clients, only the country of residence is listed. For U.S. clients, you will see the state name, as well.
This registration is important for determining an account's features, trading ability, and update requirements. Please share the new country registration designation with your service team to simplify the process of determining which product or service is best suited for each specific client.
May 2023 (0523-3R4H)
Schwab Data Delivery® update will automatically install new scheduler software
In the coming weeks, you will be prompted to install the latest version of Schwab Data Delivery. The new enhancement offers a number of benefits, including the ability to schedule tasks instead of manually starting them. In addition, the data viewers now display Schwab's enhanced core file formats, and we have also refreshed the look and feel of Schwab Data Delivery as a whole.
You will be prompted to install the upgrade in the coming weeks. The download will be automatic, but to install it and activate the new functionality, you must either have administrator privileges on your computer or ask your firm's security administrator or other IT professional to grant permission and install the upgrade.
May 2023 (0523-3R4H)
New Positions page and account selection tool available now—more enhancements coming soon
For more than a year, we have been hard at work modernizing and enhancing core Schwab Advisor Center features that you use every day. Now you can experience a number of these enhancements, with more coming in the next few weeks.
Recent improvements include:
- In late March, we launched a modernized Positions page on the Accounts tab. In addition to improvements to the page's look-and-feel, you can now view positions at a firm level—a feature that wasn't available in the legacy version—and you'll be able to toggle between start-of-day and intraday settings for firm, master account, client, and custom group views. You can also group positions by security type individually or collectively. In addition, the grid supports drag-and-drop column customization, and we’ve made it easier to access important footnotes and disclosures.
- A modernized Balances page is scheduled to be released in the coming weeks, featuring benefits similar to those of the Positions page discussed above.
- We also recently upgraded the account selection tool with a new version which was rewritten from the ground up to provide a better, richer search experience. You will be able to separate recently viewed and bookmarked accounts from the rest of your search results, view account groups by category, and see highlighted results to help you find the right account quickly. And to help you differentiate accounts with similar names or ownership, we've added a new focus section and provided at-a-glance balance information.
For a limited time, you will be able to toggle between the new and legacy views for each of these features. In the coming months, we will retire the legacy versions.
Finally, in the next few weeks, look for a revamped look-and-feel of the global navigation bar at the top of the site. This long-anticipated refresh of our top-level user interface brings Schwab Advisor Center in line with our other web properties but without functional changes.
April 2023 (0423-3V78)
New dashboard view puts Schwab Advisor Center data at your fingertips
We are in the process of adding a new dashboard feature to serve as your "front page" for Schwab Advisor Center. Just like the front page of a newspaper, the new dashboard lets you see at-a-glance the most important information you need to start your day. You may already see the new feature as the first tab at the top of Schwab Advisor Center. If not, we will be rolling out this feature to your firm in the coming weeks.
The dashboard features a series of modules, each of which provides easy-to-read data regarding an important aspect of your clients' accounts:
- All bulletins posted in the past 14 days
- Events and webcasts happening over the next two weeks
- Your firm's alerts by category, along with links to details
- The number of high-level status updates and requests for your firm, along with links to details
- Firm- and master-level assets under management
- For firm security administrators, firm-level components-of-change calculations and a balance-over-time chart
Best of all, you can customize and arrange these modules to suit your needs.
More content modules are coming soon:
- Firm-level asset flow calculations, lists of clients generating the largest inflows and outflows, and the net asset flow over time
- Current market index information for U.S., European, and Asian markets
- At-a-glance lists of the top 10 highest-value accounts and security holdings
We encourage you to visit the dashboard today—and to make it part of your everyday Schwab Advisor Center routine.
February 2023 (0223-34F3)
The Service Guide—same information, new modern look and feel
We know that you rely on the Service Guide for in-depth information about the Schwab policies and functionality you interact with every day. We have refreshed this tool to look and work more like our other digital experiences—yet all the same resources are still available. We hope this enhancement makes it even easier for you to find the information you need.
Functionally, very little has changed. Service requests, bookmarks, and Help—all work the same way as before; you'll just notice a few tweaks:
- The new homepage has easier access to popular topics and key resources, with the search bar prominently featured at the top of the page
- Navigation has been consolidated at the top of the page and features more concise labels
- Some topics have been rearranged to give you an at-a-glance understanding of more important subtopics
We hope you enjoy the modernized experience when using the Service Guide.
February 2023 (0223-34F3)
The top five Schwab Advisor Center enhancements of 2022
We are continuously looking for ways to bring you better digital tools to help you run a more efficient business, provide a better client experience, and minimize fraud. Here's a quick overview of the top tech enhancements we made to the Schwab platform in 2022.
- Digital client onboarding. Expanded our digital client onboarding workflow with the ability to open, set up, and fund multiple accounts for a household in one streamlined workflow.
- New digital account management workflows. Added four completely digital workflows that allow your clients to quickly and securely approve common account maintenance tasks such as transferring assets or adding a beneficiary.
- Move money. Launched import transactions, giving you the ability to submit multiple onetime cash journal transactions quickly and securely by uploading a comma-separated values (CSV) spreadsheet file.
- Schwab Advisor Center mobile app. Added new check deposit functionality in the Schwab Advisor Center mobile app to photograph and deposit checks of up to $3 million into your clients' retirement and brokerage accounts.
- Status and Alerts overview page. Launched the Status and Alerts overview page, providing you with a consolidated view of all recent status updates and alerts and enabling you to take action on those notifications from a single page. We also added the ability to make the overview page your default homepage when you log in to Schwab Advisor Center.
January 2023 (0123-2523)
The new Action menu on the Profiles page makes it easy to perform key tasks
Now you can use new functionality to easily navigate to important pages and create easy-to-remember nicknames for your master and sub-accounts.
When you select a master or sub-account on the Profiles page, you can now click Action on the right side of the screen to access a menu allowing you to trade, move money, manage the account, and do portfolio analysis—all without navigating through other pages of the site.
One of the links on the Action menu allows you to create custom nicknames for your master and sub-accounts, making them easier to remember and look up. Your firm's security administrator controls which users have access to add or modify a nickname for each account.
We hope that these and future such quality-of-life improvements will make using Schwab Advisor Center to conduct business on behalf of your clients and firm even better.
November 2022 (1122-20T1)
Better readability, editing, and viewing of key data
The cost basis page features a new look-and-feel designed to make it easier than ever to find the information you need for your clients' accounts.
The improved page features include:
- Better readability, interactivity, and use of widescreen resolutions in the gain/loss tables
- New user interface that offers easy access when editing information or viewing and subscribing to reports at the account level
None of the functionality you depend on has changed, meaning these enhancements should not affect your daily workflows—other than possibly expediting them!
If you would prefer to transition more slowly, you can still use the classic version of the page temporarily: Click the View legacy Cost Basis link to toggle between the new version and the older view.
We will continue to enhance this and other pages on Schwab Advisor Center as we work to modernize your experience.
November 2022 (1122-20T1)
Tag accounts, masters, and groups for easy access across the site
Get the best of both worlds. As part of the ongoing TD Ameritrade integration, a major set of new enhancements is being added to Schwab Advisor Center that incorporates top capabilities from TD Ameritrade's Veo One® platform. Long-term enhancements include a new dashboard with customizable modules and a modern design that simplifies the user experience. The first enhancement—new bookmark functionality—is now available.
The new bookmark icon appears next to each account, master account, and group you view on Schwab Advisor Center. When you click it, that account or group is added to your bookmarks—all of which can be accessed by clicking the Bookmarks link at the top of the page, on the left rail, or on various page grids. This new functionality makes it easier than ever to find the items you interact with frequently, no matter where you are on the site.
June 2022 (0622-2NSK)