SYS-CON MEDIA Authors: Elizabeth White, Pat Romanski, Carmen Gonzalez, Liz McMillan, Kevin Jackson

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Schwab Announces Roll Out of Schwab OpenView Mobile Enabling RIAs to Quickly Deliver a Branded Mobile Presence for Their Firms

After a successful pilot, Schwab Performance Technologies® (SPT) announced today the roll out of Schwab OpenView Mobile, a customizable app that RIAs can use to create a turnkey, branded mobile presence for their firms, enabling 24/7 connection with clients. SPT will work with participating firms to create the firm-branded app and each firm will then submit their app to Google Play and iTunes App Stores.

Neesha Hathi, senior vice president, Advisor Technology Solutions for Schwab Advisor Services (Photo ...

Neesha Hathi, senior vice president, Advisor Technology Solutions for Schwab Advisor Services (Photo: Business Wire)

“Looking to the future, it is clear that the RIA office must evolve to keep up with emerging client needs and competitive forces,” said Neesha Hathi, senior vice president, Advisor Technology Solutions, Schwab Advisor Services. “Mobile technology is a must-have for advisor firms looking to grow and build relationships - both with today’s clients and with the next generation - because it allows the advisor to deliver the ‘know me’, anywhere, anytime service clients expect.”

Schwab OpenView Mobile was first announced at IMPACT 2013, where Hathi identified mobile, cloud-computing, big data and integration as four key trends that will drive the success of an advisor’s business in the future. “Technology is playing an increasingly important role in helping advisors scale their business, enhance the experience of their clients and differentiate their brand,” said Hathi.

According to Schwab’s 2013 RIA Benchmarking Study, 73% of advisors currently invest or plan to invest in mobile technologies, and the most recent Schwab Independent Advisor Outlook Study found that seven in ten advisors are focusing on differentiating their firm to stand out from the pack.

Schwab OpenView Mobile - How it Works

SPT will work with advisors to customize their app to reflect their own brand, including adding their firm logo, contact details and choosing icons and colors. Once the app has been customized, the advisor will post it on Google Play and iTunes App Stores where their clients can find it by searching for the firm’s name. An RIA can customize the experience they want to create for their clients by including advisor news, promotional content, contact information and a website link, as well as real-time data on their Schwab accounts.

“The creation of a branded app for our firm provides us with a tremendous opportunity to connect with clients through their mobile devices, a channel where we know clients are spending an increasing amount of time and expect to be able to find information quickly and easily,” said Mark Balasa, Co-CEO and CIO at wealth management firm Balasa, Dinverno and Foltz, LLC. “With the touch of a button, the app enables us to make another connection with our clients strengthening our service with them, without over-extending our client-facing people to do so.”

“The app is another way Schwab and SPT help advisors remain competitive by using technology to support the client experience,” added Hathi. “This new app is available to advisors at a fraction of the cost it would take for them to build one on their own.”

About Schwab

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, LinkedIn and our Schwab Talk blog.

Disclosures

Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

Schwab Performance Technologies (SPT) provides technology and related products. Charles Schwab & Co., Inc. (Schwab) and SPT are affiliated as separate subsidiaries of The Charles Schwab Corporation, but their respective products and services are independent of each other.

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