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Schwab Digital Account Opening (DAO) Integration
This integration between Tamarac CRM and Schwab allows you to push existing Tamarac CRM contact information to Schwab to begin the account opening process. The data manager at your firm can enable this integration of you can contact your service team for additional guidance. Once enabled, you will see Open Digital Account on the Custodian page.
Before you start with Digital Account Opening, you must have:
Although most settings values are managed by Tamarac, the admin user can find the custodian enablement settings on the Configurations Settings page.
After enabling the Schwab SSO, the admin user can access the Configurations Settings page, by selecting Configurations, and then Configurations Settings from the Tamarac Settings area.
Under the Custodians tab, you will see the Schwab integration and any other available configurations. Select Schwab from this list.
On the Schwab Custodian Configuration page under Digital Account Opening, turn the Status toggle on.
The remaining details on this page are defined by Tamarac Support. If you need to edit these details, contact your support team.
To initiate Digital Account Opening from an account, follow these steps:
From your dashboard, select Custodians and Schwab
In the Custodian panel, select Open Digital Account.
Select the contacts whose data you want to send to Schwab. You can select primary, secondary, or both.
Review the Note and Disclaimer, then select Continue.
If you are not currently authenticated, you’ll be redirected to Schwab where you sign in using your credentials and select Continue.
Enter the security code and select Continue.
If you are not currently authenticated, the user agreement will appear. After acknowledging the agreement, select Continue. You can now close the authorization tab and you will be redirected to the Schwab portal to continue to account opening process.
Once you are signed into the Schwab portal, there will be a digital envelope mapped with the data for the contacts you selected.
To make sure that all tabs open automatically while using the DAO process, disable any active pop-up blocker.
If there are any errors or values that need to be changed, select Edit in the applicable tab and make the changes.
After the changes are complete, your client will receive an email with any digital documents that require a signature.
After your client signs any required documents, the new account will appear in the portal.