Schwab Performance Technologies® Launches New Capabilities for Advisors Large and Small


New pricing helps smaller advisory firms purchase portfolio management software

SAN FRANCISCO, May 8 - Schwab Performance Technologies® (SPT) today announced two offers designed to provide the choice and flexibility that advisors need from a portfolio management software provider. The programs include a lower-cost pricing model for smaller advisors, PortfolioCenter® Emerging Practice, and a new service option, PortfolioCenter Select Service, for advisors who are looking for a more personalized service experience.

PortfolioCenter Emerging Practice is designed for firms with 50 or fewer client accounts. Instead of the standard pricing with a one-time purchase price and annual maintenance fees, firms pay a consistent price every year. For example, the regular cost for PortfolioCenter is $10,000 upfront, with subsequent annual maintenance costs of $2,000. PortfolioCenter Emerging Practice costs just $3,000 each year, with no additional purchase price. Relationship pricing is available for advisors who custody assets with Schwab Institutional. As the firms using PortfolioCenter Emerging Practice grow, they can transition to the regular PortfolioCenter pricing schedule.

"Many smaller advisors have a difficult time making a significant upfront investment in technology," said Dan Skiles, vice president of Schwab Institutional Technology. "However, a portfolio management system is likely one of the most important purchases they'll ever make, and our scale allows us to offer a great product at a price that makes sense for their firms' economics."

New service option provides advisors with dedicated team

With PortfolioCenter Select Service, Schwab Performance Technologies assigns a primary service contact and dedicated team to advisors who want more customized service. Select Service subscribers also receive exclusive additional services designed to enhance their proficiency with PortfolioCenter, including a personal tour of new features and recommendations on how firms can take advantage of each new release. Select Service is available for $2,000 per year, regardless of the number of seats or the assets under management.

"While we pride ourselves on providing great service to all our clients, some advisors really value working with the same individuals every time they call," said Skiles. "The Select Service representatives are very knowledgeable about their assigned clients' business and can quickly assist with basic questions relating to software applications and maintenance, or address more complex issues like integrating PortfolioCenter data with other applications or determining which performance reports are right for a specific client."

Participants in the pre-release recognize the value of an ongoing relationship with a Select Service representative. Kathy Williams, senior vice president of Waddell & Associates explains: "I have 15 years of investment advisory experience and have used Centerpiece or PortfolioCenter for 13 of them. So when I do have a support need, I like working with a senior representative who knows both my skill level and how our firm uses the program. We can troubleshoot issues quickly and find solutions that are tailored to our needs."

About Schwab Performance Technologies

Founded in 1985, Schwab Performance Technologies is a subsidiary of The Charles Schwab Corporation and a leading provider of portfolio management and accounting solutions to more than 3,000 independent financial advisors and investment managers. Schwab Performance Technologies develops powerful portfolio management solutions to help advisors manage their practice and service their clients. PortfolioCenter® and PortfolioCenter Relationship Manager® are products of SPT. More information is available at www.schwabpt.com.

About Schwab Institutional

Schwab Institutional is a leading provider of custodial, operational and trading support for independent fee-based investment advisors. This year marks Schwab Institutional's 20th anniversary serving the independent investment advisor industry. Since 1987, Schwab Institutional has supported independent investment advisors by offering support and services to help grow their businesses and help their clients reach their financial goals. As of March 31, 2007, client assets custodied with Schwab Institutional stood at $524.5 billion. These assets, managed by the approximately 5,000 independent advisor firms Schwab Institutional currently serves, represent approximately one-third of total client assets custodied with The Charles Schwab Corporation. Brokerage products offered by Schwab Institutional are not FDIC insured, are not guaranteed deposits, and are subject to investment risk, including the possible loss of principle invested. Schwab Institutional is a division of Charles Schwab & Co., Inc.

About Charles Schwab

The Charles Schwab Corporation (NASDAQ:SCHW) is a leading provider of financial services, with more than 300 offices and 6.8 million client brokerage accounts, 1.1 million corporate retirement plan participants, 151,000 banking accounts, and $1.3 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, 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. More information is available at www.schwab.com. (0507-0699)

Kathy Williams and Waddell & Associates are not affiliated with or employed by Charles Schwab & Co., Inc.

FCMN Contact: alma.aseron@schwab.com

Source: Charles Schwab

CONTACT:

Lindsay Tiles of Charles Schwab,

+1-415-667-3997,

Lindsay.Tiles@schwab.com

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