Schwab unit to acquire Etelligent

Schwab Performance Technologies said last Thursday that it has entered into an agreement to acquire Etelligent Consulting Inc., a registered investment advisory technology consulting firm.
DEC 17, 2007
By  Bloomberg
Schwab Performance Technologies said last Thursday that it has entered into an agreement to acquire Etelligent Consulting Inc., a registered investment advisory technology consulting firm. SPT, a Raleigh, N.C.-based subsidiary of The Charles Schwab Corp. of San Francisco, provides portfolio management and accounting system interfaces to more than 40 broker-dealers. In addition, some 3,000 independent registered investment advisory firms use its PortfolioCenter product. "SPT and Etelligent share a common goal of helping advisers increase the efficiencies of their back offices through the combination of technology and experienced professionals. We expect that this acquisition will enable us to help advisers achieve even greater scale across their businesses, as well as offer them greater flexibility in how they work with us," said Dan Skiles, vice president of technology for Schwab Institutional. "We are very pleased to be joining forces with Schwab Performance Technologies, a highly respected company that has been a great partner for us," said Jim Starcev, managing principal of Overland Park, Kan.-based Etelligent. Financial terms of the deal weren't disclosed, but the acquisition is expected to close in the first quarter. Davis Janowski can be reached at [email protected].

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.