Schwab Institutional of San Francisco, went online last week with M-Pact, a Web-based application for automating and streamlining its separate-accounts sales, advisory and proposal process.
Schwab is licensing the software from CheckFree Investment Services, of Jersey City, N.J., but is customizing it and offering it to independent investment advisors under its own private label, Money Manager Analysis and Proposal System.
The application helps advisors with their managed accounts business by making it easier to identify, screen and compare money managers and managed accounts products.
Within the program there is a proposal system that allows advisors to assess a client's risk tolerance and time horizon, and view model or customized manager portfolios that best suit their needs.
Advisors can generate printed investment policy statements illustrating a client's chosen asset allocation, historical performance of multiple manager mixes and detailed profiles on each manager.
CheckFree Executive Vice President and General Manager Alex Marasco said: "M-Pact's intuitive structure enables financial advisors to quickly and easily grow, support and brand their separate accounts business."
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