Envestnet Inc. and Charles Schwab Corp. have agreed to enable Schwab clients to connect and share their financial data with more than 1,200 financial service providers using the Envestnet Yodlee platform.
Access will be based on client consent and tokenization, allowing them to use an application without having to enter and store usernames or passwords with any third party, Envestnet said in a release.
Teams from both firms are now working on the integration, according to the release.
Wealth management is a key focus for a new service tier.
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Elsewhere on the East Coast, a Boca Raton-headquartered shop has acquired a fellow Florida-based RIA in "a natural evolution for both organizations."
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From direct lending to asset-based finance to commercial real estate debt.
