Pave Finance, a wealth management software firm, announced Tuesday that it has integrated with Charles Schwab, a move that allows RIAs to link Schwab client accounts directly to its technology for automated portfolio construction, management and trading.
The integration with Schwab will help independents compete with major Wall Street players and capture a larger share of a growing market, Pave said. The firm, citing data from The Kitces Report, also said that by automating processes, advisors can save up to 18 hours a week while providing personalized, risk-managed portfolios.
“We’re thrilled to be extending our leading automated wealth management solutions to a new pool of users through this integration with Charles Schwab,” Pave CEO Christopher Ainsworth said.
“With our frictionless and time-saving technology outperforming the returns of popular indices over the last decade, we believe Pave should be a tool in the arsenal of every RIA. Through this integration, we’re picking up momentum and bringing Pave one step closer to achieving this goal,” he said.
Pave’s technology is available to more than 15,000 RIA firms managing more than $4.2 trillion in assets on the Schwab platform. Since the integration, 16 firms with a combined $16 billion in assets in more than 60,000 client accounts have already adopted the Pave platform, the company said.
Pave will showcase its automated portfolio management platform at Schwab’s Impact 2025 conference next week in Denver.
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