Schwab Launches PortfolioCenter
Schwab Institutional, a custody, trading and operational support provider for independent advisors, has launched PortfolioCenter, a desktop portfolio management system. PortfolioCenter is built on Microsoft SQL server technology, and provides advisors with a tool for portfolio accounting, performance measurement and customized client reporting. It replaces Centerpiece, the company's current portfolio management system, and is based on an open architecture platform interfacing with more than 40 brokerage and mutual fund companies. The Sept. 21 launch follows Schwab Performance Technologies' rollout of Portfolio Relationship Manager, a contact management and workflow automation program, which replaced Junxure last June.