Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
Schwab has account aggregator similar to Fidelity FullView /eMoney
Does Schwab have an Outside accounts Aggregator for their clients or brokerage account holders? similar to Fidelity's FullView or eMoney?...or Mint? or any other equivalent? Thanks In Advance Majick
BTW, I don't use account services features any more. This is because one is basically providing full login info to various site and trusting them on security, encryption, etc. There is enough hacking mess going on as it is.
At the risk of saying something stupid (again) I believe that Schwab does indeed have an account aggregator, which I've used for a couple of years.
My "Accounts-Summary" page lists all securities held within Schwab of course, and on that page you should find "Add a Non-Schwab Account". Clicking on that opens a window which says "Easily view and monitor your overall portfolio by linking your non-Schwab accounts and assets through our aggregation service."
Schwab follows our accounts at American Century and American Funds mutual fund companies. Previously it also followed all of our accounts and CDs at First Republic Bank, and also JP Morgan Chase.
After using that setup for a long time all of a sudden Chase stopped cooperating- that's one of the things that caused me to stop using Chase except to maintain a checking account with a minimal deposit, to receive monthly pension and SS deposits.
First Republic also has such an aggregation service, and oddly enough Chase still maintains that linkage. So I dropped First Republic from the Schwab setup, and monitor them directly, and Chase through them.
I also worry a bit about the security issues that Yogi mentions. Also, it's worth mentioning that apparently Schwab and First Republic do not operate their own "aggregation" services- from my experiences it seems that they both use an external third-party service for this, and that may account for the fact that Chase is available at one place but not the other.
@Old_Joe, you ARE right, it is right there in the Summary page that BTW is my starting page! But I went looking for something in the tabs, searched Schwab and also the web and those didn't direct me to the link on Summary page.
Thanks, YOU found the answer @majick was looking for.
I've briefly used the account aggregation feature at Fidelity or Vanguard years ago. It's nice to view "one pane of glass" but the increased security risk wasn't worth it for me. As yogi mentioned, account credentials must be provided to the data aggregator. This creates another avenue for a potential breach.
I am using Fidelity aggregation tool but I did not provide other account credentials. Those data were input manually so I can see the entire picture in one signal place. Very clumsy and not able to update data on real time. The other possible solution is to create your own spreadsheet and import data directly into it, but it has its own drawbacks.
Thanks to ybb and all the above contributors for the feedback.Got my answers. ...Aggregator helps me to get a clear/better quick picture across all accounts plus it can analyze further like adding up % asset in diff classes. FullView/eMoney can keep track of CreditCard & all Investments transactions, expenses...like medical/healthcare, Leisure,Travel, etc, when Linked & adds Up yearly expenses with details... Yes, security is always a major concern...I thought it's behind the Brokerage Fidelity's firewall or after you log In to Fidelity's account with its own user name/pswd...which I thought is better than say Non brokerage or bank?...Imo...Thanks.Majick
Btw, FullView was Yodlee-based & Fidelity's eMoney aggregator, they bought them out 5 yrs ago...has a retail version: https://emoneyadvisor.com/packages/ Thanks, Majick
Account aggregation isn't technically trivial, there's likely less than 10 tech cos that do it. I doubt any of the brokerages or banks have built their own aggregator, they are all using Yodlee, Mint or equivalents.
Does anybody else use Quicken to download transactions at various brokerages? I have done it for years and believe it is safer, as the passwords remain on your computer and not on Quickens.
Comments
But there is such a feature for Schwab Advisory Accounts, called Schwab Alliance program.
https://advisorservices.schwab.com/system/file/P-10672401
BTW, I don't use account services features any more. This is because one is basically providing full login info to various site and trusting them on security, encryption, etc. There is enough hacking mess going on as it is.
My "Accounts-Summary" page lists all securities held within Schwab of course, and on that page you should find "Add a Non-Schwab Account". Clicking on that opens a window which says "Easily view and monitor your overall portfolio by linking your non-Schwab accounts and assets through our aggregation service."
Schwab follows our accounts at American Century and American Funds mutual fund companies. Previously it also followed all of our accounts and CDs at First Republic Bank, and also JP Morgan Chase.
After using that setup for a long time all of a sudden Chase stopped cooperating- that's one of the things that caused me to stop using Chase except to maintain a checking account with a minimal deposit, to receive monthly pension and SS deposits.
First Republic also has such an aggregation service, and oddly enough Chase still maintains that linkage. So I dropped First Republic from the Schwab setup, and monitor them directly, and Chase through them.
I also worry a bit about the security issues that Yogi mentions. Also, it's worth mentioning that apparently Schwab and First Republic do not operate their own "aggregation" services- from my experiences it seems that they both use an external third-party service for this, and that may account for the fact that Chase is available at one place but not the other.
+1 to ybb & O_J
Thanks, YOU found the answer @majick was looking for.
It's nice to view "one pane of glass" but the increased security risk wasn't worth it for me.
As yogi mentioned, account credentials must be provided to the data aggregator.
This creates another avenue for a potential breach.
FullView/eMoney can keep track of CreditCard & all Investments transactions, expenses...like medical/healthcare, Leisure,Travel, etc, when Linked & adds Up yearly expenses with details...
Yes, security is always a major concern...I thought it's behind the Brokerage Fidelity's firewall or after you log In to Fidelity's account with its own user name/pswd...which I thought is better than say Non brokerage or bank?...Imo...Thanks.Majick
FullView was Yodlee-based & Fidelity's eMoney aggregator, they bought them out 5 yrs ago...has a retail version: https://emoneyadvisor.com/packages/
Thanks, Majick