This integration will feed in accounts from Schwab Advisor Center daily. It will also provide you with the never-before-offered ability to manually refresh account holdings at-will! This means that if the client is in the office with you, you can refresh the fed-in account and bring it's holdings from the values we received at marked close to it's current price and quantity!
Firstly, you'll want to review the instructions here to enable the integration in your database.
Please take note, the enrollment into the persisted data delivery feed MUST be completed by a Schwab Advisor Center Firm Security Administrator (FSA) user, or a user who has been granted Custody Data Persistence Function Access in SAC, as outlined by Schwab here.
If the Firm Security Administrator user that you choose to enroll with has a changing token added to their Schwab Advisor Center password, the user must log into Redtail and re-enter their Schwab Advisor Center user's password in Manage Integrations every day before 9am PT in order for the feed to successfully get the new account data. We recommend creating a new Schwab Advisor Center user, using the instructions on configuration, to opt-in to the data feed with to avoid having to remember to enter in that password daily.
Once the persisted data has fed into your database and is linked up to Contact Records, you can refresh the holdings in an individual account on demand.
Finally, here's a more general account management overview, if you're not already familiar with working with Contact Records and their accounts within Redtail CRM.
*** Important notes about accounts feeding in from existing integrations: ***
If you have existing account feeds and you see unlinked accounts populated from your Schwab integration, it will be much easier for you NOT to run autolink before reading the following:
For the Schwab PortfolioCenter integration:
IF you have a Schwab PortfolioCenter integration set up with us, and want to continue to use that integration to receive your non-Schwab-custodian accounts, you can create a SET of accounts in Schwab PortfolioCenter that EXCLUDES accounts from Schwab custodian to upload manually to Redtail CRM. Failing to complete this step may result in duplicate accounts, one from the Schwab OpenView Gateway integration and the other from PortfolioCenter. The below link provides instructions on how to create a set for upload into Redtail CRM from Schwab PortfolioCenter.
For more information about how to create sets in PortfolioCenter, you can contact their Support team at (877) 673-7970 to help walk you through the process.
For accounts feeding in from another aggregator:
IF you have another aggregator or custodian that is not Schwab, but is feeding in Schwab accounts, you will want to have those accounts suppressed by that aggregator (eg. Albridge). Once those fed-in values are suppressed, our support technicians can work with you to link existing accounts in your CRM to the new data feed from Schwab OpenView Gateway. Failing to complete this step may result in duplicate accounts: one from the Schwab OpenView Gateway integration and the other from the existing aggregator.
You can read more about manually linking accounts here. Or, contact our support team at (800) 2060-5030 for further assistance with manual linking.