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Practice Management > Building Your Business

Schwab Offers ‘Workflow’ Help for Advisors

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In order to help advisors “gain greater efficiency in their business practices,” Charles Schwab announced on June 21 that a library of 28 universal workflows is now available.

Housed in the Schwab OpenView Workflow Library (through Schwab Intelligent Technologies) the new workflows cover critical aspects of managing a successful investment advisory practice; these include lead generation, client “onboarding,” service requests and business operations. The universal workflows are free to download for advisors who custody assets with Schwab Advisor Services. Interestingly, the company claims the workflows are applicable to advisors regardless of which customer relationship management system they use in their office, and even if they are not using a CRM at all.

“Workflows are essentially actionable roadmaps that guide advisors and their staff along a consistent and efficient route for common office tasks,” Neesha Hathi, senior vice president of technology solutions for Schwab Advisor Services, said in a statement. “We know that technology by itself isn’t enough to help advisors achieve maximum efficiency and scale, it needs to be married with consistent business practices and processes—that’s the important role that workflows play.”

The Workflow Library, available at, also has an updated user interface, which offers a more intuitive process for helping the advisor to select workflows, according to the company. Once selected, an advisor can download workflow instructions customized for their specific CRM. In addition to the 28 universal workflows, the Workflow Library already includes five workflows customized for advisors who use Junxure CRM and five workflows for advisors who use Salesforce CRM. The Workflow Library was first launched in October 2011 and as of May 31, more than 250 advisor firms have downloaded nearly 500 workflows.


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