Schwab Institutional plans to add trust accounting capabilities to its fee-based custody and trading platform.
   The company announced Innovest Systems LLC-which specializes in trust accounting and wealth management software solutions-will integrate its InnoTrust software into Schwab's platform.
   The feature is designed to allow advisors to expand their wealth management services to include trust accounting, according to Schwab.
   The services should be available to Schwab's advisor clients by the third quarter of 2007, according to Schwab.
   "As more investors age and become interested in trusts, advisors are recognizing that trusts are the gateway to managing the total wealth of their high-net-worth clients," says Cathy Clauson, vice president of product marketing for Schwab Institutional.
   InnoTrust is described by Schwab as a "state-of-the-art offering" that enables independent trust companies, trust and custody departments of banks, wealth management firms, third-party retirement plan administrators and others to manage their financial and accounting information.