Schwab Integrates Model Market Center to Custody Platform

Schwab Advisor Services is integrating TD Ameritrade’s Model Market Center, a marketplace for model portfolios, into Schwab Advisor Center.

The tool enables advisors to tap into 526 asset allocation models from 52 money managers, many on a no-fee basis, marking Schwab’s efforts to build the “industry’s leading” custody platform for registered independent advisors (RIAs).

“Advisors need streamlined, cost-effective ways to personalize their offerings for clients, and Model Market Center allows them to do just that at scale. They can select from a wide range of model portfolios based on each client’s unique financial goals and risk tolerance and combine them with other holdings to create the ideal custom portfolio – without the burden of building an entire strategy from scratch,” said Jalina Kerr, managing director of client experience for Schwab Advisor Services.

Advisors can access Model Market Center through iRebal, Schwab’s rebalancing tool, which is also available on Schwab Advisor Center. TD Ameritrade-formerly-custodied Schwab advisors already have access to both tools.

Schwab stated that the inclusion of the model portfolio platform was part of its ongoing initiative to “modernize” and add more features from TD Ameritrade’s Veo One custody platform.

Last month, TD integrated its advisory and brokerage business into the Schwab Advisor Center, transferring approximately 3.6 million custodial accounts from approximately 7,000 advisors.