Charles Schwab & Co. plans to add money managers to its recently launched Managed Account Access platform. Managed Account Access is Schwab's bid to reach out to wirehouse brokers and teams who want to go independent but also want access to the same managers and operational efficiencies they have at the big firms. Schwab launched Managed Account Access last year.

John Morris, head of asset management products and services, said the platform offers the same managers in the same operational manner and in a single contract system. "It's a soft landing," he said. Now the firm has 23 managers with over 65 investments, and Schwab plans to add to that number shortly. He declined to name managers. "Our focus is to aggressively add to that." Morris said Schwab bases its lineup on what advisors are looking for and with which managers the bulk of separately managed account assets are currently invested.