Schwab To Launch New Portfolio Management System For Advisors
San Francisco (Oct. 4, 2002) -- Schwab Institutional, a division of Charles Schwab & Co., Inc., will launch a new portfolio management system for its investment advisors.
PortfolioCenter, a product of Schwab Performance Technologies (formerly Performance Technologies Inc.), is an open-architecture portfolio management system built on Microsoft SQL Server database, with multi-user access and enhanced reporting features, according to the firm. PortfolioCenter will support over 40 interfaces with custodians other than Schwab.
While the new technology won't be available until early 2003, Schwab will demonstrate PortfolioCenter at its annual conference for registered investment advisors this month in Washington D.C. It will be available to all Schwab advisors and current Schwab Performance Technologies clients. Existing Centerpiece clients will receive the new software a month prior to their annual renewal date, Schwab said.
The company will also demo PortfolioCenter Outsource, a new Web-based portfolio management outsourcing service that lets advisors delegate certain back office operations to Schwab Performance Technologies. PortfolioCenter Outsource will support six interfaces with custodians other than Schwab when it rolls out next year.
The company will also launch two other renamed offerings built on Microsoft SQL Server technology early next year: PortfolioCenter Trade Manager (formerly "genTrade 1.0"), an automated trader order generation and management system, and PortfolioCenter Relationship Manager (formerly "Junxure(TM) 1.3"), a contact management and office workflow automation system.
--Electronic Accountant Newswire staff