AdvisorEngine's CRM deepens ties with Schwab

AdvisorEngine’s client relationship management (CRM) software has added an integration with Charles Schwab.

AdvisorEngine said that it has integrated Juxure with Schwab’s digital account opening process. As a result, the firm said that RIAs who custody their assets with Schwab and use Junxure as their CRM provider of choice will be able to open new client accounts paperlessly.

AdvisorEngine purchased Junxure in January of 2018. The firm is best-known for offering advisors performance reporting, billing and recordkeeping, and model portfolio construction tools.

‘It’s such a key relationship with a firm like Schwab,’ said Craig Ramsey (pictured above), AdvisorEngine’s chief operating officer. ‘It goes back many, many years and will continue in the future as our business evolves, continuing to use data in new ways as we work with them.’

Since acquiring Junxure in 2018, AdvisorEngine has moved briskly to integrate the software with various companies that occupy different positions in an advisor’s workflow. In May of 2019, it revealed a deeper integration with performance reporting software company Orion Advisor Technology, as well as email marketing campaign tool Constant Contact and client texting service MyRepChat.

Schwab, of course, is on the verge of seismic change as it prepares to swallow up rival discount brokerage and RIA custodian TD Ameritrade in a $26 billion merger. Ramsey declined to specifically comment on how the merger of the two custodial platforms would affect the Junxure integration, but indicated that AdvisorEngine’s relationships with both companies are unchanged.

‘We have very strong relationships with both firms and we don’t see an impact to the relationship on either side,’ he said.

AdvisorEngine is backed by ETF sponsor WisdomTree, which invested an additional $30 million into the company in 2018. A portion of that investment was used to fund the Junxure acquisition.

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