What's New: Digital Onboarding
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.
Our digital onboarding capabilities on Schwab Advisor Center® gives you the ability to open, set up and fund client accounts in a single, fully digital experience. Using information from Schwab or third-party platforms, the workflow minimizes errors and delays by guiding you and your client through the process of capturing data, while allowing flexibility and collaboration so clients can complete required documents efficiently and securely.
Use these resources to get an overview of digital onboarding and scroll down to learn about other enhancements that deliver a simpler, easier paper-free experience.
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Learn more about the three types of insurance every firm should consider and make the right choice to protect your firm and your clients.
September 2021 (0921-1PD2)
Onboarding just got easier
We've been working to expand our digital onboarding capabilities, and now you can take advantage of the most significant number of advancements yet that provide you with the fastest and most secure way to onboard new and existing clients.
The new workflow builds on our existing digital account open tool and delivers a streamlined account open, funding, and setup process for you and clients, supporting the most common account types and onboarding tasks.
This major expansion is a time-saver for your team, minimizing errors and delays by guiding you and your clients through the data capture process and delivering a much simpler, more interactive experience in minutes.
Key digital onboarding features:
- Expanded support for account types such as living trusts, inherited IRAs for individuals, and custodial accounts, in addition to the most common Schwab One® and IRA account types supported previously
- Account setup and funding integration, including ACAT asset transfer (TOA) and Schwab MoneyLink® setup, in a single digital envelope
- Flexible workflow that enables clients to add and edit required information, including uploading documents when needed
- Support for 16 of the most common advisor documents in addition to Schwab forms
- A guided process that auto-fills client information from Schwab and leading third-party platforms with Schwab integration
- Detailed status tracking and the ability to recall, edit, and resend envelopes
- Automatic enrollment in Schwab Alliance, putting your clients on a path to a paper-free future
This step-by-step guide walks you through the experience for both you and your clients. If you would like to see a live demo and ask questions, register for one of the weekly webcasts hosted by our experts.
August 2021 (0821-1YN7)
Newly expanded digital onboarding capabilities
Newly expanded digital onboarding capabilities
Join us August 3—5 for SOLUTIONS 2021
SOLUTIONS is the only event tailored for people who work directly with Schwab technology. The 2021 virtual event is happening August 3–5 and will be packed with technology insights.
Key topics include:
- Leadership insights. Get updates on our plans to extend our industry leadership by integrating Schwab and TD Ameritrade technology—including a Q&A with Schwab leaders.
- Onboarding and servicing clients. Learn how Schwab tools and technologies improve the entire onboarding experience—helping you provide better service and more value to your clients.
- Trending industry topics. Hear about cybersecurity, best practices to identify and reduce trading risks, and how to better meet the needs of women investors.
- Networking and virtual roundtables. Collaborate with other attendees to discover effective ways to integrate digital tools into your firm.
And for the very first time, we're excited to welcome TD Ameritrade Institutional advisors to register here to be part of SOLUTIONS.
We look forward to seeing everyone—virtually—in August!
July 2021 (0721-1KM9)
Legacy online account open tool is retiring
Schwab currently offers a variety of options to help you open accounts and onboard new clients digitally. To streamline and simplify the digital account opening process, we will begin consolidating these tools with the upcoming retirement of the legacy online account open feature in Schwab Advisor Center®.
Start using the enhanced digital account open workflow today
If you haven't already, you should begin using the faster, easier, and even more secure digital account open workflow accessible at the top of the Forms & Applications page in Schwab Advisor Center. This workflow offers the most streamlined experience by automatically enrolling your clients in Schwab Alliance and allowing you to include your firm's forms in the envelope you send to clients for electronic approval. The guided workflow helps minimize errors with auto-fillable fields and automated status updates keep you informed of envelopes in progress.
We'll be rolling out several enhancements later this year, including:
- Availability of more Schwab supplemental forms to include in client envelopes, such as Transfer of Account and MoneyLink
- Expanded ability to open and fund more account types
Give it a try today to simplify tax-time workflows. Get accounts opened and funded faster, and be ready for the enhancements coming your way later this year.
Use these resources to get started
February 2021 (0221-125W)
New navigation makes it easy to access digital account open workflow
New functionality on the Forms and Applications page makes it easier to access Schwab's new digital account open tool for these popular account types:
- Schwab One Personal, Joint Tenant, Joint Tenant in Common, and Community Property
- Schwab One Revocable Living Trust
- Contributory, Rollover, or Roth Contributory IRAs
- Schwab Charitable for Donor-Advised Fund Account
Selecting these account types from the drop-down menu will bring you to the first step within the account open process, where you can create a digital envelope and send to your client for secure eAuthorization. To get familiar with the workflow, use our step-by-step guide and look for the contextual support within the Schwab Advisor Center® experience.
You can still access the PDF version of each account form and other common forms such as MoneyLink and TOA from a link within the first step of the account open workflow. Activities where you'll need to use an alternative method, such as DocuSign or online account open, include:
- Multiple account open within one envelope
- Adding more than four advisor forms
Check out the feature roadmap for more information. This enhancement is part of our ongoing effort to make it easy to use our advanced tools to provide the best possible client experience.
January 2020 (0120-9MZP)
For advisor use only. For general educational purposes.
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