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Charles Schwab takes advisory services mobile with iPhone app

July 2, 2012

Financial institution Charles Schwab has rolled out a mobile application for its advisory services that lets users track their accounts via their devices.

Via the app, Charles Schwab advisors can view account balances of clients using real-time. The app is available for free download from Apple’s App Store.

“With the new Schwab Advisor Center app for the iPhone, our goal is to bring a quality app to the mobile space based on the business we serve and real client needs that exist,” said Jennifer Davis, spokeswoman for Charles Schwab, San Francisco.

“Our advisor clients can quickly and conveniently view their clients’ accounts on the go with our new mobile app, which means they can stay on top of their business without being tied to their offices,” she said.

Mobile balance
Independent registered investment advisors can download the Charles Schwab app to check clients’ balances, transactions and positions.

The app also uses real-time data to pull in up-to-date information to let advisors quickly access information via their devices.

To help speed up finding information, advisors can enter account number or names.

The app includes a feature to let users rate the app, which Charles Schwab claims will be looked critically at for future updates.

The Charles Schwab Advisor Center iPhone app

Constantly looking at user feedback is always smart when initially rolling out an app, especially for a financial institution that is aiming to get users to interact with an app on a regular basis.

The app launch is part of a broader strategy from Charles Schwab to make its advisory services more easily accessible.

Previously, the app has been in pilot mode.

An iPad version of the app is planned to be rolled out by the end of the year.

Mobile player
In addition to its advisory services, Charles Schwab has been doing a lot on the consumer side of the business.

For example, last year the company revamped its “Talk to Chuck” campaign with mobile ad units (see story).

Additionally, Charles Schwab rolled out an iPad app that let clients transfer funds, execute trades and transfer funds (see story).

Mobile financial services are gaining traction, and by segmenting a particular area with Charles Schwab’s newest initiative, it is proof that more businesses are thinking about ways to tailor the mobile experience for financial users.

“Our job is to provide technology that enables independent investment advisors to continue to be a hero to their clients,” Ms. Davis said.

“Giving them access to their clients’ information when and where they need it is essential,” she said.

Final Take
Lauren Johnson is editorial assistant on Mobile Commerce Daily, New York

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