Schwab Advisor Services is rolling out its new, enhanced trading platform to its over 7,000 advisory firms. To date, approximately 3,000 firms have been granted access to the new platform. The remaining firms will be upgraded in phases between now and the beginning of November.

The new platform is more scalable than the previous one, features flexible and intuitive workflows, and is better integrated into Schwab Advisor Center, Schwab’s custody and trading platform for advisors.

The new platform features major enhancements for order entry, the importing of trade files, the allocation of block trades and trade-order status management, said John Connor, managing director of Product Management, Trading Platforms, at Charles Schwab Advisor Services.  

“The new trading platform is a direct result of extensive input from our advisors,” Connor said. Previously, many advisors had to navigate back and forth between sections of the site to capture the information they needed to create trades. Now, all relevant contextual information is presented on one screen. The workflow for importing trades has been simplified, as has the process for allocating block trades. Extensive filtering capabilities improve the monitoring of open trades.

Connor said more improvements to the platform are planned.