A unit of National Financial Partners Corp. has introduced a wealth management system that advisors can use to manage both commission business and fee-based business.

The IndeSuite system, designed for financial professionals who are dually registered with a broker-dealer and a registered investment advisor, lets users sign on through an integrated AdvisorComplete dashboard, according to NFP, New York (NYSE:NFP).

The system can process new business, service accounts, manage client data, and track compensation.

NFP’s NFP Securities Inc. subsidiary is running the system.

In related news, NFP has expanded its relationship with Charles Schwab & Co. Inc., San Francisco. Schwab will be the first custodian on the NFP IndeSuite platform. Schwab handles custodial, operational and trading support for about 6,000 independent RIA firms.

NFP says it hopes to sign more third-party custodians.