Financial Advisor Marketing & Technology

Marketing & Technology For Independent Financial Advisors


Archive for September, 2008

Online Reporting For PortfolioCenter™ In Beta Test

If you’re one of the 3,400 advisory firms using Schwab PortfolioCenter™, we have some good news about sharing performance reports with your clients online. Online Reporting for PortfolioCenter, a new system now being beta tested by Advisor Products Inc. (API), is less costly, better designed, and easier to use than previous solutions for providing PortfolioCenter reports to clients online.

Online Reporting for PortfolioCenter costs about half as much as other such offerings, is built using a .NET framework with 256-bit encryption, and allows you to upload reports daily in just minutes. Online Reporting is simple:

  1. Use PortfolioCenter’s data extract tool to create an XML file that contains the performance data for all of your clients or a group of them, or batch print a PDF file with your clients’ reports.
  2. Upload the XML or PDF file to Advisor Products’ AdvisorVault, which automatically places each report in each client’s personal vault folder.

XML files are published as dynamic HTML documents with links. You may want to upload each client’s report as an XML file daily, and produce a quarterly or monthly PDF that will be stored in the client’s vault folder and archived for future reference. After mapping each client’s report to his vault folder –a one-time set-up process—your reports are always deposited automatically in each client’s personal vault folder.

Our initial goal was to produce reports identical to those displayed on Schwab Advisor WebCenter. We’ve met this goal and are now focusing on creating better reports and adding functionality to create a next-generation performance reporting solution. (Screen shots of some reports are shown at the bottom of this page.)

Online Reporting for PortfolioCenter is integrated with the Advisor Products’ Personal Client Portal platform, which enables you to provide each of your clients a personal website with wealth management articles that are automatically personalized, a To-Do Manager to assign and track client action items, interfaces with financial planning applications, and technology supporting collaboration with estate planners, CPAs and other allied professionals. Online Reporting is also available to firms that do not want Personal Client Portals but need a secure online reporting solution on their public marketing website.

Please post your comments or questions. I am particularly interested in hearing your ideas about how we can improve PortfolioCenter reports and program additional features into the system. Also, if you are a PortfolioCenter user, please contact me if you would like to participate in the October beta test.

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