Schwab Advisor Network Marks Third Anniversary With Record Performance
April 20 2005 - 11:30AM
PR Newswire (US)
Schwab Advisor Network Marks Third Anniversary With Record
Performance Referral Program Brings 20,000 Clients and $14.6
Billion in Closed Business to Advisors SAN FRANCISCO, April 20
/PRNewswire-FirstCall/ -- Schwab Institutional, a leading provider
of custodial, operational and trading support for independent
fee-based investment advisors, is celebrating the third anniversary
of its successful referral program, the Schwab Advisor Network(TM).
Since its launch in April 2002, more than 50,000 investors have
been referred to independent investment advisors who participate in
the Schwab Advisor Network. In the three years, member advisor
firms have converted more than 20,000 of these quality leads into
clients who have entrusted $14.6 billion in assets to their
advisors. "During the past three years, Charles Schwab's in-branch
Financial Consultants and advisors in the program have worked
together successfully to help a significant number of affluent
investors find the advice solution for their specific financial
situation," said Edie Heilman, senior vice president of Schwab
Institutional. "I'm extremely proud of the difference we've made
for advisors, and the important contributions those advisors have
made in the lives of their clients." Heilman noted that total
assets converted by advisors in Schwab's current program and
through its predecessor Schwab AdvisorSource(R) referral program
now exceed $25 billion. As of March 31, 2005, approximately 330
advisors were members of the Schwab Advisor Network. New-to-program
assets added in the first quarter of 2005 exceeded $1.7 billion, up
more than five percent from the same quarter in 2004. About Schwab
Institutional Schwab Institutional, a division of Charles Schwab
& Co. Inc., is a leading provider of custodial, operational and
trading support for independent fee-based investment advisors.
Client assets custodied with Schwab Institutional total $352
billion as of March 31, 2005. These assets, managed by the
approximately 5,000 independent advisor firms Schwab Institutional
serves, represent approximately one-third of total customer assets
custodied with Charles Schwab & Co., Inc. as of March 31, 2005.
About Charles Schwab The Charles Schwab Corporation (NYSE / Nasdaq:
SCH), through its operating subsidiaries, provides securities
brokerage and financial services to individual investors and the
independent investment advisors who work with them. With over 7
million individual investor accounts and more than $1 trillion in
client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles
Schwab & Co., Inc. (member SIPC) provides a complete range of
investment services and products, including an extensive selection
of mutual funds; financial planning and investment advice;
retirement plans; (more) Page 2 of 2 referrals to independent
fee-based investment advisors; and custodial, operational and
trading support for independent fee-based investment advisors
through its Schwab Institutional division. Its subsidiary Charles
Schwab Bank (member FDIC) provides banking and mortgage services
and products. The corporation's other operating subsidiaries
include U.S. Trust Corporation (member FDIC) and CyberTrader(R),
Inc. (member SIPC) .These companies' web sites can be reached at
http://www.schwab.com/ , http://www.schwabbank.com/ ,
http://www.ustrust.com/ , and http://www.cybertrader.com/ .
(0405-00888) DATASOURCE: Charles Schwab CONTACT: Lindsay Tiles of
Charles Schwab, +1-415-667-3997 or Web site: http://www.schwab.com/
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