Schwab Institutional to Celebrate 20th Anniversary, Pay Tribute to
Advisors' Success in 2007
SAN FRANCISCO, Jan. 11 /PRNewswire-FirstCall/ -- Schwab Institutional,
a leading provider of custodial, operational and trading support for more
than 5,000 independent investment advisors, ended 2006 on a high note --
client assets reached $502 billion, up 23 percent from the prior year, and
halfway to the division's goal of custodying $1 trillion by 2010.
2007 marks an important milestone for Schwab Institutional -- its 20th
anniversary serving the independent investment advisor industry. Since
1987, Schwab Institutional has supported advisors by offering support and
services to help grow their businesses and help their clients reach their
financial goals. Today, Schwab Institutional is a major contributor to The
Charles Schwab Corporation (Nasdaq: SCHW), accounting for more than half of
the parent company's net new assets in 2006.
Throughout 2007, Schwab Institutional will celebrate its 20th
anniversary with special programs, events and publications commemorating
advisors' efforts and progress during the past two decades that have laid
the foundation for the industry's continued growth and success. The
celebration will culminate in Las Vegas at IMPACT(R) 2007, the annual
conference hosted by Schwab Institutional for independent investment
advisors. As part of the celebration, Schwab Institutional will publish a
full-length book documenting the history and growth of the advisor industry
as well as a yearbook in partnership with Investment Advisor magazine that
will profile today's successful advisors and their firms.
"Without a doubt, 2006 was a great year for independent investment
advisors, and we are exceptionally proud to celebrate the incredible growth
of this industry," said Deborah Doyle McWhinney. "These entrepreneurial and
talented professionals have forged a significant new path in the financial
services industry. Throughout 2007, we will salute the exceptional value
and client-centric services that independent advisors provide to individual
investors."
McWhinney pointed to a number of highlights during the final quarter of
2006:
*The introduction of GrowthPoint(TM), a new practice management program
that takes a uniquely tailored, strategic approach to helping advisors
build their businesses. GrowthPoint's new Marketing and Business
Development offering features a landmark benchmarking study that helps
advisors gain perspective and set targets by learning how their firm's
current growth compares to that of their peers, and a new web site built
exclusively for Schwab Institutional clients that houses a robust set of
tools and resources, including an online Marketing Diagnostic.
*The announcement of the winners of the first IMPACT Awards(TM) -. a new
industry-wide awards program to honor advisors and firms that have
advanced the industry through their visionary leadership, operational
excellence and technology innovation.
*The release of a new version of the PortfolioCenter(R) portfolio
management system that enables advisors to automate key management
activities, improve data integrity and accuracy, and customize technology
to meet their own unique business needs.
About Charles Schwab
The Charles Schwab Corporation is a leading provider of financial
services, with more than 300 offices and 6.7 million client brokerage
accounts, 541,000 corporate retirement plan participants, 146,000 banking
accounts, and $1.2 trillion in client assets. Through its operating
subsidiaries, the company provides a full range of securities brokerage,
banking, money management and financial advisory services to individual
investors and independent investment advisors. Its broker-dealer
subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org ),
and affiliates offer a complete range of investment services and products
including an extensive selection of mutual funds; financial planning and
investment advice; retirement plan and equity compensation plan services;
referrals to independent fee-based investment advisors; and custodial,
operational and trading support for independent, fee-based investment
advisors through its Schwab Institutional division. The Charles Schwab
Bank, N.A. (member FDIC) provides banking and mortgage services and
products. CyberTrader(R), Inc. (member SIPC, http://www.sipc.org ) is an
electronic trading technology and brokerage firm providing services to
highly active, online traders. More information is available at
http://www.schwab.com . (0107-0033)
SOURCE Charles Schwab
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Related links:
http://www.schwab.com
CONTACT:
Alison Wertheim of Charles Schwab,
+1-415-636-5812, or alison.wertheim@schwab.com
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