Schwab adds element to plug-and-play technology with eye toward existing RIAs, not just fresh wirehouse recruits
NetDocuments will put electronic files right into the CRM window for RIAs using Schwab OpenView Integrated Office
Related Moves
Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
February 17, 2023 at 2:49 AM
Fidelity lands RIA whisperer from Schwab in a coup, apparently using quality-of-life perks as lure
Kelly Smith chose the Boston rival for greater flexibility, better pay and a chance to move upmarket to sell family office services to RIAs that mix with the ultra-high-net-worth elite.
February 10, 2023 at 3:39 AM
RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors
Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.
November 3, 2022 at 1:59 AM
Oisín's Doubletakes: Clara Shih returns to Salesforce after 11-year hiatus • Focus reloads for M&A with $500 million debt raise, taking its credit north of $1.5 billion • Goldman Sach's 2020 partners list looks less homogenous -- even 'accretive' of women
Former HearSay CEO returns to her mother corporation • Focus Financial Partners debt levels soar 50% on fresh debt issuance • Goldman adds diversity, but snubs Marcus partnerships
February 6, 2021 at 2:39 AM
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NetDocuments
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Bill Winterberg
One side comment about web-based document management systems like NetDocuments.
More advisors are using video in their marketing collateral, and that video needs to be archived because of regulatory requirements.
One issue with web-based solutions is the challenge of uploading and storing huge video files online. For systems that charge by the gigabyte, that gets burned up quickly by video files. Not to mention the hours it can take to upload all that video.
It’s not a negative specific to NetDocuments, but something to consider for any web-based program.
Leonard Johnson
I would like to comment on the section related to NetDocuments features. NetDocuments is designed as an enterprise-level document management and as a result has the most sophisticated full text searching and digital records management capablity in the market. It handles work-in-progress for creating, editing and sharing documents, e.g. MS Office apps and Outlook as it does with PDF. It has feature-rich Outlook integrations for capturing emails and archving them as they relate to the client correspondence. RIAs users regularly scan, OCR and manage their firm’s documents as well as client documents and its very easy to create a client portal or client sharing folder at any time. NetDocuments works with the any popular scanner for uploading directly from within the interface, such as in a folder. It has digitial signatures, approvals and automatic email notifications on change management—all built-in.
