When you click "Process Approved" from the Trading Dashboard, Trading generates an executable file for you to upload into Advisor Center. Before executing your first set of trades, re-familiarize yourself with block trading by reading our article What is Block Trading?
Uploading Trades to Advisor Center
To submit trades in Schwab Advisor Center, you'll need to know your Master Account Number. If you do not know your master account number, contact Schwab for help. You'll be prompted to enter your MAN into Trading when generating your first trade file.
Good to know: Two files are downloaded from the Trading Trading Dashboard when two or more clients are buying or selling the same ETF/stock. The first file, "Schwab_Order" contains block and single orders for ETFs, Stocks, and Mutual Funds. The second file with format "MMDDYYYY.EQA" contains allocation instructions for any blocks contained in the trades file.
Follow these instructions to upload and send the trades generated by Trading:
- Log in to Schwab Advisor Center and go to Trading>Import Trade Files>Import File(s)
- Upload the file titled "Schwab_Order"
- Review the imported orders
- Click “Submit Orders” to send your trades
If there are any warnings related to these orders, Schwab will display them when you click Submit. You can either ignore these warnings and chose to process your trades, or contact Schwab for further clarity on any impacts these warnings may have on your client accounts.
If you only had mutual fund trades, or if you are only trading in a single account: You're all done!
If you have a SCHBLOCK file to send as well, continue with the steps below. You must submit your allocation orders after your block orders are sent, and before the market closes.
Submit Allocation Instructions
Allocation instructions must be sent after the block orders, and before the market closes. Mutual Funds do not get blocked. The following steps only apply when trading ETFs and Stocks across multiple accounts.
To upload and submit allocations:
- Go to Trading>Allocations>Import Multiple Trade Allocations
- Upload the file "MMDDYYYY.EQA"
- Review the uploaded allocations
- Click 'Submit' to send allocations
Hooray- you're all done! You've just finished trading with Trading.
Settlement & Sync with Riskalyze
Now that your trades have been submitted, simply wait for them to settle. Schwab may display the new positions in Advisor Center as soon as the following day, and Riskalyze will sync in the updated positions the following morning. You do not have to take any action to see updated positions in your Riskalyze account. Riskalyze automatically updates account positions as soon as they are received from Schwab.