Schwab to Replace Its Advisor Robo Offering

“The response has been very positive. Advisors like iRebal because of the flexibility and scale it provides. We will now be able to offer that same flexibility and portfolio customization in iRebal to IIP portfolios, which is something advisors have long supported,” the spokesperson said.

Institutional Intelligent Portfolios was designed to monitor client portfolios on a daily basis and automatically rebalance as needed in keeping with the client’s risk profile, Schwab’s website notes.

“Now that we can offer innovative tools gained through our Ameritrade integration, we can help you meet your clients’ portfolio management needs through the iRebal platform. iRebal offers the flexibility and customization advisors have been asking us for with fewer limitations on models, no cash minimums and expanded available account types,” Schwab said.

There is no platform fee, so iRebal is available to firms at no additional cost.

RIABiz previously reported on the change.