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Schwab Cuts PortfolioCenter Prices for Smaller Firms, Adds Service Level

By James J. Green

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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.