Portfolio Connect Section

How to review and submit management fees in Schwab Advisor Portfolio Connect®

How to review and submit management fees in Schwab Advisor Portfolio Connect®

Schwab Advisor Portfolio Connect comes with the ability to calculate management fees that can be reviewed and submitted to Schwab Advisor Center®. You can review projected and locked invoices before transmitting fees.

User access

Users with the Schwab Advisor Center® firm security administrator (FSA) Tooltip  designation have access to all accounts and data within Portfolio Connect.

Non-FSA users have:

  • The same account data access on Portfolio Connect that they do on Schwab Advisor Center
  • No access to firm level data

See How to work with Schwab Advisor Center® user security groups for details.

BrowserGoogle Chrome provides the best browser experience and is strongly encouraged.

Note: Some Schwab Advisor Portfolio Connect elements are not supported on Internet Explorer or Microsoft Edge.
LoginPortfolio Connect is only accessible through Schwab Advisor Center by going to More > Portfolio Connect > Continue to Portfolio Connect.
  1. Within Schwab Advisor Portfolio Connect, go to Billing > Billing Overview, to access the Billing Summary grid.
     
  2. At the top-left, select the billing period from the Date Selector drop-down. You may choose between monthly or quarterly dates depending on your firms billing setup.  
     
  3. To filter the Billing Overview, go to the drop-down at top right and select either Filter by Account Groups or Filter by Accounts. Select additional filters by clicking on the column headers.
    • To clear the filter, go to the drop-down and select Clear All Filters.
      Note: Filtered and sorted results are maintained when you navigate away and return. If filters are not cleared, they will stay intact after logging out.
       
  4. In the row of the invoice to review, you can see the Fee AmountCash Available, and the Unpaid Amount.
     
  5. To see the Fee Amount Details, click View Fee Amount Details. A new window will display the billable amount, base fee, adjustments, and fee allocation for account groups.
  1. Within Schwab Advisor Portfolio Connect, go to Billing > Billing Overview, to access the Billing Summary grid.
     
  2. At the top-left, select the billing period from the Date Selector drop-down.
    • To select all invoices:
      • Click Lock All Fees at the top of the Billing Summary grid, or 
      • Click All on the top left of Billing Summary grid > Actions > select Lock Billing Data for this Period.
    • To select individual invoices, check the box(es) to the left of the invoice(s) > Actions > select Lock Billing Data for this Period.
      Note: Locking Fees will finalize the calculation. The amount will not update if any underlying setting changes or if the billable value changes after locking.
       
  3. A window will open so you can review all invoices to lock under Billing Data to Lock. You can also review invoices ineligible to be locked under Excluded Billing Data.
     
  4. You can remove an invoice from the list to lock by clicking the in-row X on the right.
    • Click Lock Billing Data to lock invoices. This will change the status from Projected to Locked
  1. Within Schwab Advisor Portfolio Connect, go to Billing > Billing Overview, to access the Billing Summary grid.
     
  2. At the top-left, select the billing period to transmit from the date selector drop-down.
    • To select all projected and locked invoices
      • Click Transmit All Fees at the top of the Billing Summary grid, or
      • Click All at the top left of the Billing Summary grid > Actions > select Transmit Fees to Schwab.
    • To select individual invoices, check the box(es) to the left of the invoice(s) > Actions > select Transmit Fees to Schwab
      Note: Only fees in the Locked status may be transmitted.
       
  3. A window will open so you can review all invoices to transfer under Fee to Transmit. You can also review invoices ineligible to be transmitted under Excluded Fees.
     
  4. You can remove an invoice from the list to transmit by clicking the in-row X on the right.
     
  5. Choose your Billing Master account from the drop-down.
     
  6. To confirm submission in Portfolio Connect, click Transmit Fees. The status will change from Locked to Transmitted.
     
  7. To go to the Schwab Advisor Center blotter, click Go to Schwab Advisor Center.
     
  8. Click Send fees to Schwab at the bottom-right.

Once you have transmitted fees to Schwab Advisor Center, you will need to:

  • Review amounts in the management fee blotter in Schwab Advisor Center and submit fees. This critical step must be completed for your fees to be submitted.
  • Watch for management fee transactions in the daily files.
  • Review management fees status.

For additional Portfolio Connect resources, go to the Help menu at the top of each page in Portfolio Connect. Call the number listed under Contact Us to speak with platform support.

To generate invoices, see How to work with invoices in Schwab Advisor Portfolio Connect®.

If I locked the invoice and need to make a change to the fee schedule information, affecting the fee amount, can I get an updated invoice?
Yes. To generate a new projected invoice with the updated fee schedule information, select the locked invoice and click Regenerate Invoice. For detailed steps, call the service team.

What happens if get a manual payment for management fees?
To add a manual payment for an invoice, select Manage Payments and then click Add Payments. For additional detailed steps, call the service team.

How to get started in Schwab Advisor Portfolio Connect®
How to work with fee schedules in Schwab Advisor Portfolio Connect®
Introduction to Schwab Advisor Portfolio Connect®
Introduction to Schwab Advisor Portfolio Connect® Billing