NDEX Systems Enhances Advisor Tools with Schwab Integration for Streamlined Workflows

Introduction

NDEX Systems recently announced its latest integration with Schwab Advisor Center®, marking a significant step forward in enhancing advisor efficiency across North America. This new integration introduces an advanced Single Sign-On (SSO) feature and streamlines the client onboarding experience through Schwab's digital onboarding workflow. By leveraging Schwab's industry-leading custody infrastructure alongside NDEX's innovative data and workflow automation capabilities, this collaboration aims to provide wealth managers, Registered Investment Advisors (RIAs), and family offices with a more cohesive and secure method for account management.

Key Features of the Integration

The integration between NDEX and Schwab offers a range of advantages that aim to simplify and enhance the daily tasks of financial advisors. Here’s a breakdown of the pivotal features:

1. Integrated Single Sign-On (SSO)

The new SSO functionality allows advisors to transition effortlessly between NDEX and Schwab platforms. This unified authentication means that advisors are no longer burdened with multiple logins, which not only speeds up access but also greatly enhances data security. The objective is to reduce time wastage in repetitive login processes, thus allowing advisors to focus more on their clients and less on administrative tasks.

2. Simplified Client Onboarding

The client onboarding process is a critical aspect of financial advising, and this integration takes it to the next level by streamlining the process:

- Advisors can initiate account openings with Schwab directly through the NDEX platform.
- The integration allows for pre-filled client and account details using NDEX’s normalized data, minimizing the risk of manual entry errors.
- Duplicate data entries and unnecessary coordination between teams are drastically reduced, simplifying the entire onboarding workflow.
- The time taken to complete and fund accounts is significantly shortened, which enhances overall client satisfaction.

This holistic advancement in onboarding aligns with NDEX’s core mission of equipping advisors with accurate, compliant, and actionable data across various custodians and asset types, enhancing the advisor-client relationship.

Benefits to Advisors

Laurent Bensemana, the Founder and CEO of NDEX Systems, emphasized the importance of speed, accuracy, and simplified workflows for advisors. According to Bensemana, this integration embodies those essential needs by eliminating friction and redundant administrative tasks, thus ensuring that advisors can work from one reliable source of truth.

Alison Dooher, Managing Director of Wealth Services at Schwab Advisor Services, shared that Schwab is dedicated to enabling technologies that allow advisors to operate more efficiently and scale their businesses. By collaborating with NDEX, they are making substantial strides in creating a more advisor-centric approach to onboarding and account access.

Continued Commitment to Innovation

This enhanced SSO and onboarding integration further solidifies the integration efforts between Schwab and NDEX, underscoring their shared commitment to innovation and operational efficiency. Advisors using NDEX can now seamlessly combine Schwab's custodial services, including multi-custodian normalization, with NDEX's robust data engine.

This allows for accurate reconciliation and integration into Customer Relationship Management (CRM) systems, financial planning tools, and reporting platforms. The integration is now available to NDEX users who have existing Schwab custody relationships and can be activated by reaching out to their NDEX account manager.

About NDEX Systems

For over 25 years, NDEX Systems has been redefining the landscape of financial data management within the wealth management sector. As an independent multi-custodian technology provider, NDEX offers scalable solutions designed to aggregate, normalize, and reconcile complex financial data, empowering firms to perform with accuracy and confidence. Today, NDEX Systems serves over 13,000 wealth managers and firms across North America, supporting the management of more than $300 billion in assets. For additional information on NDEX Systems and their innovative offerings, please visit www.ndexsystems.com.