Schwab Advisor Services is adding Model Market Center, the model portfolio marketplace developed by TD Ameritrade, to Schwab Advisor Center, the firm announced Tuesday at the start of its three-day Impact conference in Philadelphia.
The center lets advisors access 526 model portfolios from 52 money managers. Schwab calls it the industry's first model portfolio marketplace.
"We're thrilled to announce the rollout of Model Market Center on the Schwab custody platform — a key pillar of our promise to bring together the best of Schwab Advisor Services and TD Ameritrade in the new Schwab Advisor Center," according to Jalina Kerr, managing director of client experience for Schwab Advisor Services.
Model Market Center is accessible to advisors through iRebal, Schwab's customizable rebalancing tool, available on Schwab Advisor Center. Schwab advisors who previously custodied with TDA already have access to Model Market Center and iRebal, while other Schwab advisors will receive access to both tools in the coming months, the firm said.
Orion Update
Orion Advisor Solutions said Tuesday that the firm is updating its Schwab Advisor Services custodial integration — giving advisors who use the Orion and Redtail portals access to real-time data and a new advisor trading experience, which includes improved trading workflows and automated Schwab money market fund investing.
"We're thrilled to introduce advisors to Advisor Trading, an easy-to-learn, easy-to-use trading experience," according to Brian McLaughlin, president of Orion Advisor Tech.
