Three Charles Schwab investment adviser subsidiaries have agreed to pay a total of $187 million to settle SEC allegations that a robo-adviser system, Schwab Intelligent Portfolios (SIP), facilitated cash allocations in investors’ portfolios that ultimately lowered their returns “by approximately the same amount as an advisory fee would have,” according to the regulator. “Without admitting… Read More >>
Black Diamond Upgrades Links to Schwab’s Custodial Platform
SS&C Advent’s Black Diamond Wealth Platform is offering more digital access to the Schwab Advisor Center custodial platform via IT integration links that help end-users eliminate paper-based processes, save time, improve accuracy, and move faster toward digitizing their workflows, officials say. Schwab and SS&C’s Advent have been serving mutual clients “for more than 30 years,”… Read More >>
Schwab to Keep Using Fiserv’s Unified Wealth Platform
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… Read More >>
