PortfolioCenter Hosted offers a private web application. With PortfolioCenter Hosted, you are still running PortfolioCenter’s desktop version but you run it on your own private cloud. While most web applications are able to handle lots of concurrent users, PortfoilioCenter Hosted is not multitenant.
However, PortfolioCenter is a quick way to give your team mobile access, and the transition is usually easy. But remember you are outsourcing the management of the technology infrastructure, not the data management.
With PortfolioCenter Hosted, you still need someone to accurately handle and process the data. As Andy Gluck writes:
Any mistakes in calculations of performance are your mistakes, but you are not relying on a third party to handle your clients’ data. It is not as efficient as outsourcing data management, but you may not mind the additional cost because you have other problems to fix first or just feel most comfortable with this technology. — From: Schwab Performance Technologies Launches “PortfolioCenter Hosted;” Do You Know What It Really Is?
Further reading:
- Schwab moves to keep 3,500 desktop-bound RIAs from walking onto somebody else’s cloud
- What is Cloud Computer and What Does This Stupid Buzzword Mean?