Managed Account Platform Section

Introduction to turnkey asset management providers (TAMPS) through Schwab

Introduction to turnkey asset management providers through Schwab

Schwab Advisor Services™ offers access to turnkey asset management providers (TAMPs) through Charles Schwab & Co., Inc. ("Schwab"). TAMPs allow you to outsource functions like manager research, portfolio construction, and performance reporting. TAMPS can help improve operational efficiency, provide more time to focus on client needs and increase your business's profitability.

TAMPs are available for non-managed and managed accounts through Schwab's Managed Account Marketplace®  Marketplace Tooltip platform. They are not available in the Managed Account Select® (Select) or Managed Account Access® (Access) programs.

Schwab has relationships with many of the leading TAMPs and offers our own Managed Account solutions to provide the choice, flexibility, and support you expect from Schwab. Download a list of TAMPs doing business with Schwab.
 
To use a TAMP, you must esign the Managed Accounts Addendum to the Investment Manager Service Agreement and establish the appropriate master account. Contact your sales representative for more information.

Outsourcing the following:

  • Overlay tax management
  • Performance reporting
  • Client billing 
  • Compliance assistance
  • Portfolio balancing
  • Proposal generation
  • Sales and marketing support
  • Trade order management

Contact the TAMP directly for specific offerings.

Research and Tools:

  • Third-party analysis and ongoing due diligence materials across various asset classes
  • Access to multiple preset model portfolios
  • Ability to develop customized models

Diverse investment management solutions, including:

  • Separately managed accounts Tooltip
  • Exchange-traded fund accounts Tooltip
  • Mutual fund accounts Tooltip
  • Unified managed accounts Tooltip
  • Advisor as Portfolio Manager Tooltip
Client managementResearch and portfolio constructionPortfolio implementation and monitoringReportingBusiness reporting
  • Client/risk profile questionnaire
  • Proposal generation
  • Investment policy statement generation
  • Manager research and due diligence
  • Asset allocation models
  • Third-party strategists
  • Research/proposal assistance
  • Portfolio solutions
  • Rebalancing
  • Portfolio accounting and reconciliation
  • Performance reporting
  • Support for end-client website
  • Billing
  • Practice-management resources

*Service offerings may vary across all categories.

Other services

TAMPs may also offer:

  • Web-based productivity tools for client profiling and proposal automation
  • Ongoing portfolio optimization
  • Sales support tools
  • Back-office administration
  • Performance monitoring
  • Client web portal
RolesResponsibilities
Advisor
  • Manage the client relationship
  • Provide client profiling
  • Choose separate account and investment management solutions—sometimes in conjunction with the provider
TAMP

Offers access to:

  • Money managers
  • Total portfolio solutions
  • Ongoing research
  • Portfolio accounting
  • Performance reporting
  • Reconciliation
Money manager
  • Choose securities
  • Manage assets
Schwab Advisor Services
  • Custody client assets
  • Transmit consolidated data feeds
  • Generate statements and tax forms
  • Execute trades
  • Offer bundled solutions
  • Electronically reports account activity, balances, and positions to your provider, who may use it to provide customized client reporting for you and your clients

How do I get started using a TAMP?
Contact the TAMP directly to learn about their services or begin the relationship. Then call your Schwab sales representative, who will work with Schwab's Enterprise Business Development to establish the appropriate TAMP master account. Before opening client accounts, you must sign the Managed Accounts Addendum to the Investment Manager Service Agreement, reach out to your Relationship Manager to get started. The provider will work with you to complete the paperwork required.

What TAMP should I use?
Schwab does not recommend or endorse any particular provider, nor does it make representation or warranty about any provider or its suitability for your clients. It also does not guarantee the accuracy of the information about the services provided by any particular provider. You can download a list of TAMPs doing business with Schwab.

What is a unified managed account (UMA)?
Some TAMPs offer UMAs, which are single accounts designed to hold a range of investment products such as separately managed accounts, mutual funds, and exchange-traded funds in a single account. See Tools and resources in this article for a list of providers offering UMAs. 

How to select investment strategies for managed accounts
How to set up a managed account master
Introduction to managed accounts 

Download a list of TAMPs doing business with Schwab.

TAMP services may vary depending on which TAMP provider you choose. Schwab does not recommend or endorse any particular TAMP. Schwab is not affiliated with any of the TAMPs available in Marketplace. Schwab makes no representation or warranty about any TAMP or its suitability for your clients. Schwab does not guarantee the accuracy of the information about the services provided by any particular TAMP.

Marketplace accounts with asset-based pricing pay a minimum monthly service fee based on the overall ABP rate. Asset-based fees do not include costs for trades executed away from Schwab, exchange and regulatory fees, transfer taxes, odd lot differentials, mutual fund short-term redemption fees, margin interest, electronic funds or wire transfer fees, and any other similar costs or charges. Transaction-based pricing on Marketplace accounts is like the transaction-based pricing on non-managed accounts. For trade commission pricing, contact your relationship manager. Trades with other broker-dealers may have separate fees or commissions. 

The Schwab Center for Financial Research (“SCFR”) is a division of Charles Schwab & Co., Inc. (“Schwab”) that evaluates money managers (MMs) in Schwab’s Managed Account Select (“Select”) program. The Select program is sponsored by Schwab. Schwab does not provide advice or recommendations regarding managed account strategies or MMs to investment advisors or their clients.

Third-party firms and their employees are not affiliated with or employed by Schwab. Their mention should not be construed as a recommendation, endorsement, or sponsorship by Schwab. The views expressed are those of the third-parties and are provided for informational purposes only. The experiences shared are no guarantee of future performance or success and may not be representative of you or your experience.

Please read the Schwab Managed Account Services™ Disclosure Package for important information and disclosures regarding the Managed Account Select® ("Select") and Managed Account Access® ("Access") programs. In addition, please read the participating money manager's ("MM's") disclosure brochure, including any supplements for important information and disclosures. Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio. Services may vary, depending on which MM you choose, and are subject to an MM's acceptance of the account.

The Select and Access programs are sponsored by Charles Schwab & Co., Inc. ("Schwab"). The MMs in Select are not affiliated with Schwab. The Schwab Center for Financial Research ("SCFR") is a division of Schwab. In Select, SCFR conducts an operational evaluation of MMs, monitors the MMs performance periodically, and provides research. In Access, SCFR conducts operational evaluations of unaffiliated MMs. Schwab does not provide advice or recommendations regarding managed accounts, MMs, or securities to investment advisors or their clients. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. 

The Managed Account Marketplace® ("Marketplace") platform is not a program sponsored by Schwab. Marketplace is an open architecture platform that gives investment advisors and their clients' access to separate account managers and turnkey asset management providers (TAMPs). Participating MMs and TAMPs need to establish a contract and have system compatibility with Schwab in order to be in Marketplace. The MMs, TAMPs, and their investment strategies available in Marketplace are not evaluated by Schwab.

 

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