You are now able to sync your custodial data from Schwab Advisor Center to your Nitrogen account! Follow the steps below to activate your integration.
Setting up the Integration
➡️ Submitting the Data Access Agreement
- The first step towards integrating your client accounts is to request permission to have your data sent to Nitrogen. This can be accomplished by logging into Schwab Advisor Center and completing a new ‘Request for Data Access Agreement,’ which can be found under the Forms and Applications page.
- You will need to fill out all of the required fields with your firm’s information under the Advisor Details section.
- Under Service Provider Details please include the following:
- Service Provider Firm Name: Nitrogen
- Name of Authorized Signer: Scott Alesci
- Email Address of Authorized Signer: firstname.lastname@example.org
- Under “Comments”, include the names and emails of all Nitrogen users who will need access to the feed. (This will allow Nitrogen to properly map the connections.) NOTE: For Firms implementing Compliance, instead of including the names/emails of all users, please write in the Comments: "This is for Nitrogen Executive View Implementation."
- Once Schwab receives your submission, they will send a completed copy of the Data Access Agreement to your email via DocuSign in 1-3 business days. (Additional email addresses can also be included in these notifications as requested)
- Upon receipt of the signed Data Access Agreement, Schwab will complete the data set-up for the specified master account(s) and send an email confirmation to both you and Nitrogen.
Note: This process typically takes around 7 business days.
Choosing What to Sync
After your integration has been established, you can choose what information gets synced from the integrations page in Nitrogen. To access the integrations page, go to MENU -> Settings -> Integrations -> Charles Schwab.
You can enable or disable:
- Pull Holdings: Enables the syncing of client account holdings from Schwab into Nitrogen on a regular basis. Every time you log in to Nitrogen, you should see the client's up-to-date holdings in that client's active portfolio.
Creating a Nitrogen Client Profile From a Schwab Client Account
From the Nitrogen dashboard, click the "Add New Client" button located to the right of your name and firm name. You'll now see a Charles Schwab box and an Enter Manually box. Make sure the Charles Schwab box is checked. Where it says "Enter Client Name" begin typing the name of a client, and Nitrogen will populate matching client names for you to choose from. Click on the client that you would like to sync and a profile will be created in Nitrogen.
Linking an Existing Nitrogen Client to a Schwab Client Account
If your Nitrogen and Schwab accounts are integrated, and you already have a client profile in Nitrogen, open the client profile and click on the Client Actions button in the top right and then "Integrations".
From here, you can control which Schwab client accounts are linked to this Nitrogen client profile. If you link multiple Schwab client accounts, Nitrogen will sync and combine all of the holdings into one active portfolio.
Why do I get a message that "this contact is already linked?"
There are a few reasons you might see this message: (a) the contact might be linked to another client profile in your account, or (b) the contact might be linked to a Nitrogen client profile in another advisor's account. If you use Nitrogen Data Sharing, you can share linked clients with other advisors within your Team. Otherwise, only one advisor will be able to have that contact linked to a Nitrogen client profile.
What if I have two Nitrogen client profiles and two Schwab Accounts, and I want them all together?
Choose which Nitrogen client profile you'd like to keep (preferably the profile with a client verified Risk Number). Delete the other one. Then, open the remaining client profile, click "Actions" in the top right and then "Integrations". Search the client as you would in the above section on "Linking an Existing Nitrogen Client". The holdings for both contacts will then resync into the active portfolio in Nitrogen.
How do I link a Nitrogen client with a Charles Schwab Trust Account?
Schwab shares account data with Nitrogen in two formats: using the client name, or using the client account number. To link Nitrogen clients to Schwab Trust Accounts follow the instructions above, and search for the last four digits of the account number instead of the client name. If you are creating a new record in Nitrogen based on the Schwab Trust Account, make sure to edit the Nitrogen client name field for easy location of that record in the future.