Are you “Online” with Your Investments?

Investing
Here at WealthPoint, we pride ourselves on being accessible and providing clear, transparent information to our clients. One way we achieve this is through technology. There are a couple platforms that play a key role in our clients’ experience: our WealthPoint client portal and Schwab Alliance.

Both platforms are both very useful, and despite some overlap, they each serve different purposes for clients. Today I would like to outline those differences and discuss how you can use both to make the most of your experience.

 

WEALTHPOINT PORTAL

The WealthPoint client portal has been custom designed by the WealthPoint team to clearly and concisely provide the most commonly requested information by our clients. Here are the key features you can access through our portal:

A big-picture view of your “family portfolio” with all your accounts grouped together, so you can see things as a whole. This includes the ability to pull in accounts from other brokerages, 401(k)s and other workplace retirement plans, 529 accounts, and more.

– Clear, easy to see performance over various time periods, both short-term and long-term. This includes an ongoing chart to show how your accounts have changed over time.

Asset allocation chart that shows exactly how you’re invested now, compared to a target allocation that we’re aiming for, which allows you to track your personal investment plan.

– A document vault that allows you and your advisory team to securely exchange documents. We also post quietly performance reports and newsletters in the vault, along with meeting notes and other follow-up documents.

 

SCHWAB ALLIANCE

As most of you know, we use Charles Schwab to custody, meaning that is where we hold assets and accounts. “Schwab Alliance” is the name for Schwab’s online platform. While it is not fully customized like the WealthPoint portal, it’s still very important for clients to have access. Here are the main reasons why:

– It’s helpful for completing paperwork. If you have a login, you can securely sign most forms online or by using the Schwab mobile app. You can also easily update personal information like email addresses, phone numbers, and your home address.

– You can move money between accounts via Schwab. It’s easy to link your bank account and make transfers in and out of your Schwab accounts.

– Schwab posts your important tax documents each year, such as your 1099s. We can also send these to you or your CPA, and post to the client portal, but you can get them directly from Schwab as well.

 

As you can see, both platforms have very useful features. Our client portal is the best place to go when you want information about your accounts, or if we need to exchange documents securely. When you need to do something logistical or make account updates, that is when Schwab comes in very handy.

Ultimately, we’d like to have a system in which you would only need one login to access everything at once. This would simplify things and help eliminate password fatigue. Until that is possible, we strongly recommend you set up logins for both WealthPoint and Schwab. By doing so, you’ll have complete access to all of the tools outlined above, and you’ll have a much smoother experience!

 

Please note: Clients, if you do not currently have logins to one or both of these platforms, please contact us to help you get set up. We are also happy to answer questions for those of you who already have access.

 

Thanks for reading!

About the Author: Josh Bentz

Josh Bentz, CFP®, Wealth Advisor, helps clients organize and simplify their financial lives by providing comprehensive, personal financial planning. As a Wealth Advisor, Josh provides comprehensive financial planning for clients. He enjoys getting to know individuals and families so he can give specific, meaningful advice. He believes in being a fiduciary and doing what is in the best interest of clients.