The San Francisco brokerage firm Charles Schwab Corp. is using software from CheckFree Corp. to manage a set of eight mutual fund wrap portfolios.
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The Atlanta vendor said Wednesday that Schwab is using its CheckFree APL automated system for processing separately managed accounts.
In July, Schwab started offering the Schwab Managed Portfolios, including four taxable and four tax-exempt products with investment philosophies ranging from moderately conservative to aggressive.
CheckFree said that using its software lets Schwab's staff members manage and monitor trading strategies and add client accounts to its system at a low cost.
Schwab has been a CheckFree customer since 1992.
