Enabling the Schwab Integration

Arnold Mitt

June 02, 2020 22:44

Before You Start

Practifi customers (advisor firm) must first contact their Schwab Account Representative of their intention to use their integration with Practifi. This will start the process off within Schwab to allow API access by Practifi to the customer's client data in Schwab. In particular, the advisor firm will need to have its Firm Administrator contact their Schwab representatives to enable Digital Account Opening on Schwab Advisor Center in order for its users to use the integration.

Customers should also advise Practifi if they have been set up with Schwab to always require the use of a One Time Password (OTP), in addition to UserID and Password, to access Schwab systems. This is an important item in the integration configuration. It also has significance in whether to configure the overnight synching of Alerts from Schwab (see below).

Integration Summary

The Schwab Adviser Enrollment and Digital Account Opening (DAO) enhancement to Practifi allows customers who use Schwab for Custodial services for their clients to initiate Schwab account opening processes for their client individuals directly from Practifi rather than from within Schwab.

Practifi customers can now

Transfer Contacts from Practifi Client records to Schwab, without rekeying
Initiate the Digital Account Opening (DAO) wizard from within Practifi
Monitor Alerts received from Schwab, particularly those relating to Account Opening

Advisors will still need to complete details for the account opening (missing details, or not quite right) within the DAO wizard, and await the receipt of e-signed paperwork from the end-client before the account is actually opened.

Data Mapping

The following table details the mapping of Practifi Contact and Client (Account) fields to those required by Schwab.

Practifi UI field	From	Direction (Daily)	Schwab Contact field	Rule
Email	Contact	🠞	Email Address	Not from any of the other email fields
First Name	Contact	🠞	First Name
Middle Names	Contact	🠞	Middle Name
Last Name	Contact	🠞	Last Name
Suffix	Contact	🠞	Suffix
Tax Number	Contact	🠞	SSN
Location Shipping	Account	🠞	Address Line 1	If supplied, passed in as an Address in Schwab
Location Shipping City	Account	🠞	City
Location Shipping PostalCode	Account	🠞	ZIP
Location Shipping State	Account	🠞	State
Location Shipping Country	Account	🠞	Country
	Account	🠞	International	If Country=”US” then T, else F
Postal Billing Street	Account	🠞	Address Line 1	If supplied, passed in as an Address in Schwab
Postal Billing City	Account	🠞	City
Postal Billing PostalCode	Account	🠞	ZIP
Postal Billing State	Account	🠞	State
Postal Billing Country	Account	🠞	Country
	Account	🠞	International	If Country=”US” then T, else F
Job Title	Contact	🠞	Job Title
Employer Name	Contact	🠞	Employer
Home Phone, Work Phone, Mobile Phone	Contact	🠞	Line	All Phone Number Types are transferred
			Area Code	Extracted from Line
			Country Code	Extracted from Line
			International	If CountryCode=”+1” then F, else T
DOB	Contact	🠞	DOB
Employer Name	Contact	🠞	Employer
	Contact	🠞	Is Director	If EmploymentStatus = DIRECTOR then T, else F
	Contact	🠞	Employed by Broker or Exchange	Not set as not recorded by Practifi
	Contact	🠞	Business Owner or Self Employed	If EmploymentStatus = BUSINESSOWNER or SELF-EMPLOYED then T, else F
Occupation	Contact	🠞	Occupation
Employment Status	Contact	🠞	Employed	Mapped in Data Feed Mapping
Country	Contact	🠞	Country of Residence	Presently only "US" and "AU" listed. Others can be added under Data Feed Mapping.
Country of Citizenship	Contact	🠞	Is US Citizen	If Country of Citizenship=”US” then T, else F
Country of Residence	Contact	🠞	Is US Resident	If Country of Residence=”US” then T, else F
Type	Referenced Documents	🠞	ID Type	“Passport” and “Drivers Licence” are supported. Others can be added under Data Mapping.
IDNumber	Referenced Documents	🠞	Document Number
Issue Date	Referenced Documents	🠞	Issue Date
Expiry Date	Referenced Documents	🠞	Expiry Date
Birth Place	Contact	🠞	Country of Birth
Issuer	Referenced Documents	🠞	Passport Issued Country
Type	Referenced Documents	🠞	Drivers Licence Issued State	Type= DRIVERSLICENCE and Issuer=State
Govt Issued ID	Referenced Documents	🠞	Govt ID Issued State	Type= GOVTISSUEDID and Issuer=State

Enabling the Integration

Enabling the Schwab integration with Practifi requires setting up the following configurations:

Configuration	Where
1. Upload and Import a Certificate	Salesforce Setting
2. Create Remote Site	Salesforce Settings
3. Enable Schwab Integration	Salesforce Settings
4. Set Up Scheduled Jobs	Salesforce Settings
5. Set Up Data Feed Mapping	Practifi Settings
6. Enable Practifi Triggers	Salesforce Settings
7. Add Picklist Item	Salesforce Settings
8. Enable Menu Items	Practifi Settings

1. Upload Authentication Certificate to Keystore

Download the Certificates from Bitbucket

The Keystore certificate file for production access to Schwab has already been prepared, and is held in Bitbucket. One JKS file contains the two certificates need to be downloaded to local disk for uploading into Keystore. The certificates are:

Production Enrollment Certificate
Production SSL Certificate

Download the single JKS file from Bitbucket with the following URL:

https://bitbucket.org/practifi-eng/practifi-certificates/src/master/self-signed/root/ca/intermediate/schwab/certs/prod.jks

The user will need Bitbucket permission to download. If the permission is not set call one of the Bitbucket admins to create a new user and assign the permission. Save it to local disk.

Import from a Keystore

Go to Salesforce Setup under the user’s avatar/picture icon in the top right

In Salesforce Setup, go to the Quick Find/Search bar, search for and click on Certificate and Key Management

Click on Import from Keystore

In Salesforce Setup, go to the Quick Find/Search bar, search for and click on Certificate and Key Management

Click on Import from Keystore

Select the prod.jks file from where it was downloaded earlier. Click Save.

The certificates uploaded in the JKS file will have the following names:

sii_practifi_enrollment_prod
sii_practifi_ssl_prod

Viewing the list of certificates will show the following:

2. Create Remote Site

In Salesforce Setup, go to the Quick Find/Search bar, search for and click on Remote Site

Click on New Remote Site

Only one remote site needs to be configured, as this supplies the URL Root for the API and SSL calls.

Supply the following:

Remote Site Name: suggest schwab_prod
Remote Site URL: https://restgateway.schwab.com/

3. Enable Schwab Integration

In Practifi, click your avatar in the top-right corner to view the Settings menu and select Salesforce Setup.

In Salesforce Setup, go to the Quick Find/Search bar, search for and click on Custom Settings.

Click Manage next to Schwab Integration Settings.

If this is a new install the the Schwab Integration Settings list will be empty. At this point create a new Organization Level group of settings by clicking on the first New button on the panel. Else continue to the next screen (the system will already have had Organizational Level settings for Schwab).

Complete the details per the panel below.

Supply the following:

Enabled: Ticked
Enrollment Endpoint: https://hitweb.schwab.com/SII/Enrollment/TnCEnrollment.aspx
Enrollment Certificate: sii_practifi_enrollment_prod
API Endpoint: https://restgateway.schwab.com/inbound/api
SSO Endpoint: https://si2.schwabinstitutional.com/SI2/SecAdmin/LogonSSO.aspx
SSL Certificate: sii_practifi_ssl_prod
Client Channel: NE
Verbose Logging: Ticked
Provider Channel: I4 (as in capital letter "i" for "ink" 4)
API Version: 1.0
Is Production: Ticked
Alert Last Days: 90
Account Mask Pattern: doNotMask
Max User: 5
Include Archived Alerts: Ticked
Alert Types: <blank>
Auto Map Account: Ticked
Map Account Batch Size: <blank>
Superuser: <blank>
Throw Exception: <blank>
Ready for Review Alert Subject: Digital Envelope Ready for Review
Ready for Review Alert Type: DAO
New Account Open Subject: New Digital Account: OPENED
New Account Open Alert Type: NEW-ACCT
Send Notifications: Ticked

Enable OTP: Ticked, if client uses One Time Password (OTP) for logons to Schwab. Example of password generator:

Important Note:

If your Advisor firm requires the use of One Time Passwords the overnight synch of Alerts from Schwab should not be configured. See further on this at the next step.

4. Set Up Scheduled Jobs

If your Advisor firm requires the use of One Time Passwords the overnight synch of Alerts from Schwab should not be configured. This is because when the overnight job tries to start (at, say, 3am) there is no-one physically able to enter the OTP code. The user will need to go to the Schwab Alerts panel, and click the Schwab Synch Alerts button to start the process off, supplying the OTP if required. This can be done at any time during the day.

To set up the scheduled job, in Salesforce, go to the user’s dropdown and select Developer Console.

Under Debug, open an Open Execute Anonymous Window

Paste in following code into the window, and Execute.

cloupra.SchwabIntegrationInvocable schwab = new cloupra.SchwabIntegrationInvocable('syncalertforall');
String hourly = '0 0 * * * ?';
String jobID = System.schedule('Schwab Sync Alert', hourly, schwab);

5. Set Up Data Feed Mapping

Under Settings, open Data Feeds tab

Open the Schwab OpenView Gateway collection

Ensure the following list of field mappings are listed to ensure field mappings operate correctly between Practifi’s terms and Schwab. See the csv attachment (at end of document), and use the Data Loader to upload.