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PortfolioCenter® Products – Frequently Asked Questions

Why did Schwab Performance Technologies® decide to sell the PortfolioCenter products?

Our top priority is meeting advisor needs with the best solutions, including both proprietary capabilities and integrations with third parties. A few months ago, we shared our strategy of focusing our newest portfolio management offer, Schwab Advisor Portfolio Connect™, on essential features for Schwab accounts. For advisors requiring a robust, multi-custodial system, we wanted to ensure PortfolioCenter would be served by a trusted leader in the space. As a longstanding user of the PortfolioCenter infrastructure, Envestnet | Tamarac is an ideal strategic fit to acquire and support the platform.

What products are being acquired?

Envestnet | Tamarac has agreed to acquire PortfolioCenter, PortfolioCenter Hosted™, and PortfolioServices™ from Schwab Performance Technologies®. The acquisition is expected to close during the first half of 2019. As part of the sale, we will be assigning client contracts relating to these products to Envestnet | Tamarac. We will continue to offer and support other related products, including Schwab Advisor Portfolio Connect, and integration with leading third-party portfolio management solutions.

Why did you choose Envestnet | Tamarac?

We believe Envestnet | Tamarac is uniquely positioned to carry these solutions forward because of their deep understanding of PortfolioCenter. Their experience, combined with their long-standing history of delivering solutions designed to meet the needs of RIAs, make them an ideal fit to acquire and support the platform.

What is the anticipated timeframe for the acquisition?

This announcement is to inform you that we’ve entered into an agreement to sell our PortfolioCenter suite of offers to Envestnet | Tamarac. The acquisition is expected to close during the first half of 2019. Envestnet | Tamarac will share more details after closing, when the deal is finalized.

Will there be any immediate change to current experience or support?

Nothing will change prior to the sale closing. Our service team will continue to support you until the deal closes, and we will work closely with Envestnet | Tamarac to make the transition as smooth as possible. We will let you know if there is anything you need to do prior to the closing.

Does this affect my custody relationship with Schwab in any way?

No, this sale will not impact your custody relationship or support. We value the opportunity to continue serving your firm and your clients through your broader relationship with Schwab.

Will Schwab continue to support integration with other portfolio management vendors?

Schwab will continue to invest in integration with a broad range of leading third-party vendors, including portfolio management providers. Today we offer integration with Envestnet | Tamarac, Orion, Addepar, Morningstar,
SS&C | Advent, and Advyzon.

What if I have additional questions?

The acquisition is expected to close during the first half of 2019. Envestnet | Tamarac looks forward to sharing more details with you after the deal is finalized, including by a co-hosted webcast to help answer your questions.

If you have questions about Schwab’s broader custody and technology strategy and offers, please contact your relationship manager.