Schwab Cuts PortfolioCenter Prices for Smaller Firms, Adds Service Level

Emerging Practice offering meant for RIAs with fewer than 50 clients

Schwab Performance Technologies, the portfolio management software subsidiary of the Charles Schwab Company, announced a new version of its PortfolioCenter designed for RIA firms with 50 or fewer clients, called PortfolioCenter Emerging Practice, with a smaller pricetag than the full-blown software. As the firms grow, Schwab expects them to migrate to the full-featured version of PortfolioCenter. While PortfolioCenter's regular cost is $10,000 upfront and has an annual maintenance charge of $2,000, the Emerging Practice offering costs $3,000 annually. Special pricing is available, the company said, for advisors who custody client assets at Schwab Institutional.

The company also announced a new service option called PortfolioCenter Select Service that provides a "primary service contact and dedicated team" to those users who want more customized service from Schwab Performance Technologies. The annual cost for that option is $2,000, regardless of the number of users or AUM at the RIA firm.

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