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Schwab, Morningstar Partner to Integrate Custodial Data in Morningstar Office

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Schwab Intelligent Technologies announced on Tuesday that it was partnering with Morningstar to provide RIA custody data through its OpenView Gateway platform.

Schwab Intelligent Integration is a multi-year initiative that aims to increase integration among the different systems advisors use. OpenView Gateway is one of the products of that initiative, and already integrates data from Junxure, Microsoft, Salentica,, Tamarac, Advicent and MoneyGuidePro.

Morningstar’s participation will allow the platform to integrate Schwab’s real-time custodial data in Morningstar Office, which allows advisors to perform advanced research, performance reporting and secure client communications.

“Morningstar Office is a popular solution among the advisors we serve, and we currently have more than 1,000 shared clients who could benefit from our new working relationship,” Neesha Hathi, senior vice president of advisor technology solutions for Schwab Advisor Services, said in a statement. “Working with Morningstar underscores our continued commitment to a flexible, open-architecture technology platform for better business outcomes.”

“Our agreement allows Morningstar to deliver more value to independent RIAs,” Tricia Rothschild, head of global advisor solutions for Morningstar, added. “This integration helps make advisors’ practices more efficient by enabling custodial data to flow seamlessly into Morningstar Office.”

Schwab’s RIA clients already have access to research and data from Morningstar through Office and Advisor Workstation, but now they’ll be able to integrate custodial data from Schwab.

Also on Tuesday, Schwab announced updates on the status of other integrations to the OpenView Gateway platform.

The platform is now fully integrated with MoneyGuidePro’s financial planning software and the Naviplan tool by Advicent, which helps cut down on data entry by linking profiles and account information.

Schwab is in the second phase of integration with Salentica’s CRM Advisor Edition. When it’s completed, advisors will have access to Schwab Advisor Center’s move money and cost basis information. Advisors should be able to access it by late July.

Integration with Junxure and Tamarac are in pilot stages, according to Schwab. When completed, the integration with Tamarac’s Advisor Rebalancing system will allow advisors to file trades directly to Schwab instead of importing and exporting. The Advisor View and Advisor CRM systems are already integrated.


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