If 2015 Was the Year of the Robos, What’s Next in Advisor Technology?
Charles Schwab (SCHW) rolled out its Intelligent Portfolios retail digital-advice platform in early March. It launched its Institutional Intelligent Portfolios platform for RIAs in late June, offering 450 ETFs across 28 asset classes. White-labeled with the advisor’s name, IIP has a $5,000 minimum investment for clients, with no fees to advisors who custody a minimum of $100 million on Schwab’s platform. In its third-quarter financial results announced in October, Schwab said total client assets in Schwab Intelligent Portfolios rose by $1.1 billion from Q2 to $4.1 billion as of Sept. 30.