Schwab Compliance Technologies (2024)

As a vital behind-the-scenes arm of Charles Schwab’s offerings, Schwab Compliance Technologies provides technology solutions assisting the firm, corporate clients, and independent investment advisory firms manage regulatory compliance, governance, and risk oversight.

This article explores key details surrounding Schwab Compliance Technologies including:

  • Company Background & Overview
  • Available Compliance Software Solutions
  • Flagship Platforms & Capabilities
  • Integrations with Other Providers
  • Implementation Methodologies
  • Pricing Models
  • Competitive Landscape
  • Projected Industry Growth

Whether you are an existing Charles Schwab client looking to leverage Compliance Technologies’ solutions or an independent firm considering onboarding their platforms, read on for an inside look at this pivotal compliance services company.

Company Background and Leadership

Schwab Compliance Technologies (SCT) represents an affiliate technology company of the Charles Schwab Corporation founded specifically to provide advanced compliance solutions to enterprise clients like broker dealers, banks, insurance companies, asset managers and advisory firms.

With over 25 years helping regulated entities navigate increasing complex compliance burdens and regulatory obligations via leading-edge technology, SCT brings deep domain expertise.

Leadership is spearheaded by long-time industry veterans including:

  • Richard Flynn, President: 30+ years in senior operations, risk management, finance and strategy roles across major financial institutions.
  • Diane Mulcahy, Chief Operating Officer: Previously served in senior positions at Citigroup’s Smith Barney division and Bank of America’s U.S. Trust Wealth Management unit.
  • Amy Webber, Chief Information Security Officer: 20+ year senior technology executive formerly with organizations like E*Trade. Oversees vital data and application security initiatives.

Supported by well-known Randall Froman, Dan Skiles and other governance luminaries on SCT’s Corporate Governance Advisory Board, this group furnishes tremendous real-world lessons learned from decades implementing controls safeguards at world-class financial services firms to guide software design and best practice guidance.

Next let’s explore the technology solutions and platforms offered through Schwab Compliance Technologies.

Overview of Compliance Software & Service Offerings

Schwab Compliance Technologies provides several core solutions suited for various industry players:

Corporate Enterprise GRC Platform – A full governance, risk management and regulatory compliance software ecosystem with integrated modules addressing:

  • Operational Risk Management
  • Corporate Governance Automation
  • Regulatory Change Management
  • Regulatory Compliance Monitoring
  • Business Continuity Management
  • Audit Management
  • Policy & Document Management
  • Employee Compliance Training

Wealth Management Industry Solutions – Specifically tailored compliance software, automation and digital workflow solutions for independent Registered Investment Advisors including:

  • Automated Client Lifecycle Onboarding
  • Ongoing Client Account Reviews
  • Automated Form ADV Regulatory Filings
  • Automated Performance Fee Billing
  • Compliance Policy Management
  • Employee Compliance Training
  • Bespoke Advisory Compliance Guides

This allows RIAs and multifamily offices to implement efficient and required compliance supervision programs safeguarding client assets under management using robust and inexpensive software.

Outsourced Managed Compliance Services – For advanced advisory firms like RIAs or multifamily offices seeking an embedded extension of their own compliance group, SCT provides outsourced:

  • Chief Compliance Officers
  • Compliance Analyst Personnel
  • Quarterly Compliance Reviews
  • Annual Compliance Audits
  • Onsite & Virtual Employee Compliance Training

So enterprise financial services leaders, independent RIAs, and midsized advisory firms access vital compliance technology solutions from Schwab Compliance Technologies. Now let’s overview several flagship platforms and offerings.

Flagship Compliance Platforms & Tools

With a wide range of configurable SaaS compliance software solutions, Schwab Compliance Technologies provides both out-of-the-box applications and customizable enterprise implementations.


This robust wealth management compliance automation solution features:

  • Client lifecycle workflow compliance
  • Employee personal securities trading oversight
  • Advertising review procedures
  • Data protection solutions
  • Automated client billings
  • Custom compliance procedure automation aligned to SEC & state regulations

Covering the entire digital compliance ecosystem for advisory firms, ComplianceGuardian® cost-effectively automates key processes allowing advisors to scale efficiently.


A pivoting compliance video training software providing:

  • Custom video training program creation
  • Video delivery with tracking by employee
  • Automated email nurturing of required viewings
  • Confirmation of policy attestations post-viewing
  • Reporting showing exactly who completed various trainings

This allows cost-effectively demonstrating fiduciary obligations have been met documenting employee participation.

Risk Insight®

An operational risk management software solution delivering:

  • Custom risk framework implementation
  • Automated risk control testing procedures
  • Risk policy management procedures
  • Audit issue tracking
  • Risk metrics dashboards and reports

So leadership can take a data-driven approach to enhancing business resiliency and continuity.

With these flagship platforms providing vital building blocks, SCT solutions integrate with commonly used wealth management technology stacks via APIs as well.

Built-In Integrations with Industry Providers

To interoperate within existing wealth management technology ecosystems, Schwab Compliance Technologies furnishes native integrations with providers like:

  • Portfolio Management: Black Diamond®, Tamarac®, Orion® and other portfolio accounting platforms to pass data
  • Client Relationship Management: Salesforce, Redtail and other CRMs to transfer client details
  • Custodial: TD Ameritrade, Fidelity IWS, Pershing and other custodian databases to consolidate information
  • Financial Planning

    : eMoney, MoneyGuidePro, RightCapital and other financial planning software tools to centralize data

Plus out-of-the-box templates to generate files compatible with common CSV, JSON, PDF and flat file formats used when custom integrations are required.

This allows RIAs to build compliance procedures leveraging existing staff workflows, underlying data and preferred technology providers using configurable Schwab Compliance offerings.

Now let’s explore how advisory firms undergo implementation leveraging SCT’s compliance solutions.

Onboarding Methodologies & Launch Strategies

The Schwab Compliance team follows a phased approach deploying compliance technology:

Discovery Phase – Documents detailed current compliance procedures, required policy enhancements, employee responsibilities matrix, vendor management and data schema integrations needed.

Configuration Phase – Implements ComplianceGuardian®, Risk Insight®, training templates or other applicable platforms based on desired state while integrating identified vendor data feeds.

Testing Phase – Simulates employee workflows using configured compliance software, provides user acceptance testing, monitors platform performance under load to validate reliability.

Training Phase – Creates customized employee training programs and videos then delivers accordingly, ensures participant comprehension, collects policy acknowledgment and attestations.

Go-Live Phase – Flips switch to production utilization across applicable staff users, provides hyper care support immediately post-launch, stabilizes any remaining issues, optimizes configurations.

This disciplined and phased rollout methodology ensures maximum software adoption, platform stability and achievement of target compliance objectives.

Now that we’ve covered implementation approaches, what pricing models apply for Schwab Compliance solutions?

Software Pricing Models

As a technology company solely focused on compliance-oriented platforms, Schwab Compliance Technologies offers simple and fair value-driven pricing including:

Per User Pricing – Software license costs per named employee user per month accessing platforms like ComplianceGuardian® or Risk Insight®. Makes spend scalable aligned to growing advisory firm staff counts.

Fixed Fee Tiers – Set monthly fees based on predefined Assets Under Management tiers allowing firms to forecast software budgets as AUM grows over time.

Custom Enterprise Pricing – Large Registered Investment Advisors negotiating bespoke agreements with volume discounts, minimum commitments and custom integrations specific to their enterprise needs.

Transparent per user or AUM-based pricing allows RIAs and advisory firms to reliably forecast software licensing costs and achieve economies of scale expanding compliance capabilities aligned to growth.

But how does SCT compare to alternatives in the marketplace?

Competitor Landscape & Industry Positioning

Key competitors furnishing compliance technology solutions to RIAs and wealth management firms include:

  • Compliance Science
  • Ascendant Compliance
  • EPoS
  • ComplySci

But Schwab Compliance Technologies maintains differentiation providing:

  • Natively integrated extensions of Charles Schwab custody platforms
  • Deep real-world domain expertise rooted in wealth management
  • Enterprise-grade scalability and reliability
  • High configurability for complex use cases
  • Underlying data integrations across portals

So SCT solutions meet the growing needs of independent advisory firms as regulations intensify, while avoiding overkill or deficiencies of one-size-fits all fintech compliance tools.

As compliance burdens increase across banking, securities and asset management sectors, advisory technology spend continues growing rapidly.

Projected Explosive Industry Growth Trajectory

According to leading market research firm Cerulli Associates, regulatory technology solution spending will likely skyrocket across financial services, with growth estimates including:

  • Wealth Management Industry – Spend on RIA-focused compliance software, tools and managed services expected to reach $6 billion per year by 2025, averaging over $79k per firm.
  • Banking Industry – Total addressable market for risk and compliance software to approach $16 billion annually by 2025 as regulations multiply.
  • Securities Firms – Governance, risk and compliance technology expenditure estimated to exceed $2.5 billion yearly by 2025 as infractions intensify.

So ongoing development across Schwab Compliance Technologies’ solution portfolio seeks capturing material segments of this booming market supporting RIAs, national banks, broker-dealers and institutional buy side leaders.

While increased regulatory scrutiny creates immense challenges for the financial services sector, Schwab Compliance Technologies helps firms turn compliance into a value creating function – enhancing operational resilience while achieving growth objectives.

Conclusion: Innovation Drives Competitive Edge

Across banking, wealth management and asset management sectors, the organizations achieving sustainable success demonstrate commitment to regulatory technology innovation unlocking efficiency, risk mitigation and scaled growth.

Schwab Compliance Technologies provides specialized tools allowing RIAs, banks, insurance providers and other leaders to re-envision compliance – transforming necessary obligations into an opportunity delivering competitive advantage.

By interoperating seamlessly amid existing servicing platforms through pioneering solutions like ComplianceGuardian® and Risk Insight® underpinned by industry veterans, Schwab Compliance enables firms to flourish amid intensifying oversight.

Whether outsourcing compliance workflows or licensing supporting software tools, regulatory technology paves the path to managing exponential complexity, safely expanding client rosters and wisely stewarding exponential assets under management over the decade ahead.

Hopefully this detailed overview provides useful context on Charles Schwab’s pivotal governance solutions arm. Please share your feedback or questions in comments section below!

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