Schwab Advisor Services Announces Key Enhancements to iRebal

The portfolio rebalancing and management solution has a new dashboard view, grid interface and improved navigation.

Schwab Advisor Services has announced a range of functional enhancements and a redesigned user interface for iRebal, TD Ameritrade Institutional’s tax-aware, customizable portfolio rebalancing and management solution. Schwab first announced last year that iRebal would be retained as part of the combined Schwab Advisor Services and TD Ameritrade Institutional adviser custody platform.

“At a time when independent advisory firms are growing rapidly, and as we are working carefully to bring together our two leading custody platforms, we saw an important opportunity to innovate and deliver a new version of iRebal that is more modern, user-friendly and scalable,” says Jon Patullo, digital adviser solutions managing director. “Our goal is to create more efficiencies and make sure that advisers have the information they need at their fingertips, and we are confident the enhancements we have made are intuitive and easy-to-use and can add immediate benefits to adviser’s day-to-day operations.”

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The firm says iRebal reduces the legwork in complex investment management and rebalancing processes and offers advisers more effective portfolio management designed for tax-efficient rebalancing, dynamic cash management and tax-loss harvesting, among other capabilities.

Current enhancements include a dashboard view, which was the No. 1 thing advisers had said they wanted. iRebal now has a new widget-based homepage dashboard view that gives advisers faster access to information and the ability to toggle deeper if required. The dashboard summarizes portfolio information and proactively surfaces items for attention, allowing advisers to see their most valuable data at sign-on and letting them take immediate actions as needed.

It also has a new grid interface aimed at giving advisers greater flexibility with data with enhanced filtering capabilities and the ability to easily copy and paste data directly to other programs. The interface has been designed to maximize large and widescreen monitors so that it reduces the need to scroll.

The introduction of improved navigation, editing, reporting and new side sheets means advisers can now make edits within pages without losing their place. They will now have access to new reporting features, including new cash and allocation reports that allow for quick review of accounts. These reports show the status of portfolios, and advisers can quickly trigger a workflow with a reduced number of clicks.

Included in the homepage dashboard is a new Model Market Center widget, which alerts advisers to changes in any portfolio models and allows them to drill down and act to rebalance client accounts as needed.

The updates to the iRebal platform are available immediately to advisers who currently custody with TD Ameritrade Institutional, both existing users who have already begun to transition to the new interface and those who are interested in starting to leverage iRebal in their firms.

Schwab is currently planning to extend access to iRebal to interested Schwab Advisor Services clients in early 2023.

“Choosing iRebal for rebalancing and trading needs can help advisers increase the efficiency of their investment operations and bring more consistency to their client service,” says Justin DiFilippo, digital adviser solutions director. “With this evolution of the platform, we’re enabling advisers to do this on a bigger and better scale, at no additional charge. We’re excited for advisers on both platforms to ultimately be able to experience the benefits of this powerful technology.”

Generations Divided About Short-Term Financial Confidence

After facing challenges resulting from the pandemic, younger participants show the most interest in receiving help from a financial professional.


The latest New York Life “Wealth Watch” survey highlights Millennials’ need for help with short-term finances. In general, Millennials are most concerned about post-pandemic budgets, according to the study, which surveyed 2,200 adults online in June.

Millennials feel little confidence in their ability to navigate their post-pandemic budgets. When asked how resuming costs paused during the pandemic would affect them, the majority of respondents (61% of all adults) said it would not impact their budgets. However, fewer than half of Millennials (47%) agreed with that statement.

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In addition, a MagnifyMoney survey found that more American adults than in the past were living with their parents even before the coronavirus pandemic upended jobs and finances, sending an influx of adults back to their parents’ homes. The survey found 22% of adults receive financial support from their parents, whether it’s paying phone bills or helping with rent costs. That percentage jumps to almost 30% for Millennials—who the study says have long been called the “broke generation.”

Fifty-five percent of parents with adult children say they provide financial support to their kids at least occasionally. This is least common (46%) among Baby Boomers—the majority of whom also report not receiving financial help from their parents in adulthood.

Marcy Keckler, vice president of financial advice strategy at Ameriprise, previously told PLANADVISER that “a financial professional can play an important role in helping investors assess the long-term impact of their shifting priorities. Advice from a qualified adviser can help them navigate life’s twists and turns and stay on track to achieve their biggest financial goals for the future.”

Generational Divide When It Comes to Long-Term Financial Outlook

Meanwhile, the New York Life survey found Millennials express high levels of confidence in their long-term financial futures and retirement preparation. Gen Xers, conversely, are more confident about their short-term budgets but more uncertain about their financial futures.

“We saw the starkest differences in financial confidence among Millennials and Gen Xers, both groups that have faced unique financial challenges before and because of the pandemic,” says Aaron Ball, senior vice president, head of insurance solutions, service and marketing, New York Life.

Of all generations, Millennials are entering post-pandemic life with the most optimistic outlook. In fact, Millennials reported higher levels of confidence than both their Gen X and Generation Z counterparts that their retirement savings will last the rest of their lives (45% vs. 35% and 33%, respectively). And 68% reported confidence that they will be able to retire at their desired age, versus 62% of Gen Xers. When asked how best to describe their financial strategy, 24% of Millennials said they “absolutely” know what they are doing, compared with 18% of Gen Xers who said the same.

Even with their high level of confidence in their financial futures, Millennials were the most interested in receiving help from a financial professional (61%), followed by Gen Zers (50%). Despite reporting lower levels of long-term financial confidence, only 38% of Gen Xers indicated that they would like help from a financial professional.

Of the 12% of adults surveyed who were currently working with a financial professional, however, only 5% were Millennials. Baby Boomers were more likely than other demographics to already be working with a financial professional (21% vs. 12%).

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