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Fiserv, Inc., a Wisconsin-based provider of financial services technology, reports that Charles Schwab & Co., Inc. has signed a three-year extension for Fiserv’s unified wealth platform.
San Francisco-based Schwab, an investment advisor since the early 1970’s, has been a Fiserv client for more than 14 years, Fiserv notes, utilizing the unified wealth platform “for portfolio management, accounting, trading and model-portfolio capabilities for its managed accounts platform across its separately managed account (SMA) and mutual fund advisory (MFA) programs.”
Fiserv, with more than four million managed accounts employing its unified wealth platform, according to its statement, “currently supports over 190,000 accounts for Schwab, representing $42 billion in assets under management, with year-over-year growth of 5% in its managed account business as of June 30, 2015.”
“As we continue to grow our managed accounts business, we require a stable technology partner who can scale with us and add value in support of our business processes and customer servicing,” says David Lindenbaum, Schwab vice president of managed accounts, in the statement.
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- Charles Schwab,
- Fiserv,
- SMA
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