Charles Schwab today said it has broadened its offerings to financial advisors by adding more products and services to its managed account platform.

As part of its platform offered through Schwab Institutional, the company recently expanded its relationship with Envestnet Asset Management to include its full lineup of unified managed accounts (UMAs), multi-manager accounts, mutual fund and exchange traded fund (ETF) wrap products, and separately managed accounts (SMAs).

It also added two new providers to the platform-FundQuest's UMAs, multi-strategy products (MSPs), mutual fund and ETF wrap products, and SMAs; and Morningstar Investment Services' actively managed mutual fund, stock, and exchange-traded fund portfolios.

As part of their offerings for advisors, Envestnet, FundQuest and Morningstar Investment Services provide various back-office services to advisors such as client management (client profiling and proposal generation), investment management (portfolio construction, manager research and rebalancing), performance monitoring (reconciliation, and reporting) and operations (billing and compliance tools.)

Schwab now has 18 turnkey asset management providers (TAMPs) for advisors who custody assets with Schwab Institutional.

Additionally, Schwab says it expanded its own Managed Account Select and Managed Account Access programs to provide access to more than 230 investment strategies from more than 75 money managers. Both programs have minimums of $100,000.

Schwab also recently introduced Diversified Portfolios in Managed Account Select, which combines multiple strategies in one account. Parametric Portfolio Associates and Nuveen Investment Advisors, Inc. oversee the portfolio according to target asset allocations based on models designed by the Schwab Center for Financial Research. Diversified Portfolios and Managed Account Select are also available to Schwab's retail brokerage clients.