Press Releases

4/15/09 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that its net income was $218 million for the first quarter of 2009, down 29% from the first quarter of 2008. The company’s first quarter results include a $26 million pre-tax gain relating to the repurchase of certain outstanding company debt, $14 million in pre-tax net impairment losses on certain mortgage-backed securities, and $59 million in pre-tax more...
4/13/09 5:55 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--With a struggling economy and tuitions expected to reach $200,000 in the next two years, the majority of families are searching for ways to cover college expenses. Whether enrollment is in the fall or 18 years from now, Charles Schwab & Co., Inc. has the resources to help parents make ends meet without raiding their retirement accounts. “Students are receiving acceptance letters and parents are wondering more...
4/3/09 7:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, Inc., (CSIM), the asset management arm of The Charles Schwab Corporation, announced that two of its funds have won the 2009 Lipper Awards as best in their fund categories. The Schwab Target 2040 Fund (SWERX) won as “Best Mixed-Asset Target 2040 Fund over Three Years” out of 66 qualified funds and the Schwab California Tax-Free Bond Fund (SWCAX) was awarded “Best more...
4/2/09 8:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--With perplexing codes and confusing forms, it’s no wonder many Americans postpone the inexorable job of preparing their taxes until the last minute. Charles Schwab knows it's not what you make, but what you keep after taxes that count. In these tough times, it’s especially important to take advantage of every tax break to which you’re entitled. For those filing with less than two weeks to go until more...
3/31/09 6:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The majority (52 percent) of young adults between the ages of 23 and 28 consider “making better choices about managing money” the single most important issue for individual Americans to act on today, outweighing the need to strengthen family relationships (18 percent), protect the environment (11 percent) and improve personal nutrition and health (9 percent). Moreover, almost two-thirds of young adults (64 percent) more...
3/13/09 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of February 2009 include: Net new assets brought to the company by new and existing clients in February 2009 totaled $5.5 billion. Total client assets were $1.049 trillion as of month-end February, down 25% from February 2008 and down 5% from January 2009 more...
3/10/09 7:30 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, the asset management arm of the Charles Schwab Corporation, announced an important change to one of its mutual fund offerings by lowering the expense ratio of the Schwab Hedged Equity Fund (SWHIX, SWHEX). As part of the company’s continued focus to provide investors with competitive mutual fund choices, the Hedged Equity Fund’s cap on its net operating expense more...
3/6/09 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--With ongoing market uncertainty, investors are asking themselves what is happening, what it means and what they should do about it. In response to these questions, Charles Schwab & Co., Inc. is providing answers at this critical time through branch seminars, town hall discussions, webcasts, and online through the Market Insight section of its Web site: www.schwab.com/marketinsight. Most recently, nearly 10,000 more...
3/4/09 6:30 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Independent investment advisors are divided on the long-term prospects for the U.S. economy and its impact on client portfolios, according to the latest Charles Schwab study of independent Registered Investment Advisors (RIAs). Forty-four percent expect the current recession to end in 2009, while 41 percent believe the recession will extend into 2010. Charles Schwab is a leading provider of custodial, operational and more...
3/3/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Twenty-two high school students have learned that knowledge literally pays. Charles Schwab Foundation is awarding $1,000 scholarships to each of the 22 students who obtained scores of 100 percent on the fall 2008 National Financial Literacy Challenge. Between November 3 and December 12, 2008, more than 75,000 high school students across the U.S. took the voluntary online exam, an increase of 63 percent over the more...
3/2/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--In the current economic environment, independent investment advisory firms are looking for ways to be as efficient as possible while still maintaining the high levels of personalized customer service that have become a hallmark of the industry. To help independent advisors meet these goals, Charles Schwab has released a new Schwab Market Knowledge Tools® (MKT) white paper, Best-Managed Firms: The Business of Serving more...
2/25/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Eighteen-year-old Tory Myles of Washington, D.C., has been chosen for the prestigious honor of serving as National Ambassador for Boys & Girls Clubs of America’s Money Matters: Make it CountSM program. As 2009 ambassador, Myles will apply her enthusiastic personality and persuasive style to promote financial literacy among her peers at Boys & Girls Clubs throughout the nation. Through Money Matters more...
2/23/09 7:00 am PST
NEW YORK--(BUSINESS WIRE)--At The International Traders Expo in New York today, Charles Schwab released new survey data revealing that active traders remain highly engaged in the market but are looking for ways to better manage risk during this period of record volatility. The latest Charles Schwab Active Trader Sentiment survey polled more than 700 individual investors who trade frequently. Findings include: Nearly one in more...
2/20/09 8:00 am PST
LUBBOCK, Texas--(BUSINESS WIRE)--Texas Tech University1 College of Human Sciences has opened the new Charles Schwab Personal Financial Planning Technology Complex, which contains the largest collection of professional software in any collegiate financial planning program in the United States, on the Lubbock, Texas, campus. The facility houses a technology classroom, technology work lab, and resource workspace that will be used by more than 300 more...
2/17/09 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Bank today announced the Schwab Bank High Yield Investor Savings ™ account™, with a variable annual percentage yield (APY) of 2.00%.(1) The account is designed to provide a competitive rate on cash, no matter the account balance, all with no monthly service charge, no ATM fees(2), and no minimum balances. The Schwab Bank High Yield Savings account will be available Feb. 26, 2009, with account more...
2/17/09 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Bank today announced the Schwab Bank High Yield Investor Savings ™ account, with a variable annual percentage yield (APY) of 2.00%.(1) The account is designed to provide a competitive rate on cash, no matter the account balance, all with no monthly service charge, no ATM fees(2), and no minimum balances. The Schwab Bank High Yield Savings account will be available Feb. 26, 2009, with account balances more...
2/13/09 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of January 2009 include: Net new assets brought to the company by new and existing clients in January 2009 totaled $12.1 billion. Total client assets were $1.104 trillion as of month-end January, down 21% from January 2008 and down 3% from December 2008 more...
2/10/09 8:00 am PST
RALEIGH, N.C.--(BUSINESS WIRE)--Schwab Performance Technologies (SPT), a leading provider of technology solutions for independent investment advisors, today announced strides the company has made in its first year of offering PortfolioServices, a full-service, hosted performance reporting solution that enables advisors to outsource key back office tasks. PortfolioServices is based on PortfolioCenter®, SPT’s portfolio data management software more...
2/9/09 8:27 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab today released information about 401(k) participation and savings rates broken down across different industries and certain plan participant demographics. The newly released data is part of Schwab’s continuing program to make industry insights and benchmarking data compiled from its retirement plan platform available to both plan sponsor and third party administrator (TPA) clients. Schwab is sharing more...
2/5/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Independent investment advisors overwhelmingly say that managing existing client relationships is their top business priority in the current economic environment, according to a recent survey by Charles Schwab, a provider of custodial, operational and trading support for more than 5,500 independent investment advisory firms. When asked to prioritize key areas of business management, 71 percent of advisors surveyed ranked more...
1/28/09 8:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--With tax season upon us, Charles Schwab has fast, easy and convenient ways for consumers to open an IRA before the April 15 tax deadline. Investors can open a traditional or Roth IRA account with Schwab online in about 15 minutes. “People are looking for some easy solutions to help them get on a better financial track, and the 15-minute IRA is exactly that,” said Rene Kim, senior vice president, more...
1/27/09 12:55 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable February 27, 2009 to stockholders of record February 13, 2009. About Charles Schwab The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.4 million client brokerage accounts, 1. more...
1/27/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--It used to be that the most common sound coming from a Boys & Girls Club was the swoosh of a basketball net, but today the sounds of teens talking about net assets may be just as common. This turn of events is largely due to the success of Money Matters: Make it CountSM, a financial education program for teens developed by Boys & Girls Clubs of America and funded by Charles Schwab Foundation. Most more...
1/26/09 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab & Co., Inc. announced the launch of Real Life Retirement™ Services, a new offering providing practical help for people making the transition to retirement. Many people transitioning to retirement are asking themselves: Can I afford to retire? How are my expenses likely to change? When should I take Social Security? What’s the best way to generate monthly income? Schwab’s Real Life Retirement more...
1/20/09 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that it has scheduled an Interim Business Update for institutional investors on Thursday, January 29, 2009. This Update, which will be held via webcast, is designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from 8:00 a.m. - 9:00 a.m. PT, 11:00 a.m. - 12:00 p.m. ET. Participants will more...
1/16/09 8:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Despite difficult market and economic conditions, Charles Schwab’s business-to-business Institutional Services division evidenced great strength and impressive growth in 2008. Schwab broke two records in bringing in more than 200,000 401(k) plan participants and winning an unparalleled $13 billion in assets from investment advisors who chose to leave established financial firms and set up shop as independent more...
1/16/09 5:50 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that its income from continuing operations was $308 million for the fourth quarter of 2008, up 1% from the fourth quarter of 2007. For the twelve months ended December 31, 2008, the company’s income from continuing operations was a record $1.2 billion, up 10% from the year-earlier period. The company’s fourth quarter results include $25 million in more...
1/14/09 12:01 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the nation’s largest and fastest growing national donor-advised funds, announced today its Schwab Charitable Philanthropy Speaker Series to be hosted in partnership with UC Berkeley’s Haas School of Business Center for Nonprofit and Public Leadership. “This conference series will make a meaningful contribution to the growing body of knowledge about the social sector, more...
1/14/09 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab & Co. Inc. today launched the latest evolution of its Talk to Chuck advertising campaign which addresses head-on the frustration many Americans feel about the state of financial services. The ads encourage consumers to “Do something about it,” and are a direct response to widespread public sentiment that people are without options and without an ally when it comes to fixing their financial more...
1/6/09 7:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab continues to improve its trading platforms for its active traders with upgrades to its StreetSmart Pro trading software and web-based trading platform, StreetSmart.com. The firm’s clients will now have real-time performance reporting for closed positions, new short-selling tools and more advanced options order types. “Active traders are asking for better, more effective ways to manage more...
12/23/08 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Across the independent advisor industry, firms are facing difficult times as they work to calm anxious clients, motivate tired employees and sustain businesses that are facing challenging economics. Charles Schwab, a leading provider of custodial, operational and trading support for more than 5,500 independent investment advisors, will publish three new reports in the first quarter of 2009 that will support advisors by more...
12/17/08 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--With stock prices as unpredictable as winter weather, many Americans are choosing to wait until the last minute to make charitable decisions, hoping for a recovery in the stock market. Fortunately, there are several ways to make contributions on the cusp of the New Year and still beat tax deadlines. “The holidays are a time to give back to community and causes, but it can also be busy and stressful, more...
12/15/08 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of November 2008 include: Net new assets brought to the company by new and existing clients in November 2008 totaled $5.9 billion. Total client assets were $1.112 trillion as of month-end November, down 23% from November 2007 and down 4% from October 2008 more...
12/9/08 9:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab has found that participant engagement in Schwab-serviced 401(k) plans increased dramatically both online and over the phone in the months of September and October 2008. And while the number of people reducing their contribution rates into plans has increased, the majority of participants in Schwab-serviced plans are not significantly shifting asset allocations or reducing contribution rates. Schwab recently more...
12/8/08 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Bank today announced the Schwab Bank Invest FirstTM Visa Signature® credit card, with unlimited 2% cash back on purchases automatically deposited into a Schwab One brokerage account each month. Unlike some competing cards, there is no limit to the cash back cardholders can earn, no tiers, no minimum monthly purchase amount to receive cash rewards, no restrictions on place of purchase, and no annual more...
12/3/08 11:35 am PST
AUSTIN--(BUSINESS WIRE)--With rising grocery bills and energy costs, making ends meet has become even harder for many. In these tough economic times, struggling families are looking for solutions, while others are looking for ways to help. With generous support from Charles Schwab Foundation, local nonprofit Foundation Communities is expanding financial services to help Central Texas working families weather the daunting economic climate. more...
12/2/08 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the country’s largest and fastest growing national donor-advised funds with 12,000 donors and nearly $2 billion in assets, announced today that is has been ranked California’s largest fundraising charity—and the ninth largest in the country—by the Chronicle of Philanthropy in its annual “Philanthropy 400” listing of charities that raise the most from private sources. more...
11/26/08 2:41 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The U.S. Department of the Treasury has announced that due to an overwhelming response, it is extending the test-taking window for the fall National Financial Literacy Challenge until December 12, 2008. The Challenge is a 35-question online test of personal finance knowledge and understanding for high school students across the United States. Teachers can sign up their students at the U.S. Treasury’s website: http://flc. more...
11/18/08 9:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab is now making industry insights and benchmarking data compiled from clients on its retirement plan platform available to third party administrator (TPA) clients. The information, which has been available to participating Schwab plan sponsor clients since 2004, gives Schwab’s TPA clients the ability to evaluate how the individual retirement plans they serve compare to retirement plans of the same size more...
11/17/08 9:03 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Effective today, Charles Schwab has established a new business unit, Institutional Services, to serve the needs of independent investment advisors, corporate benefit plan sponsors and third party retirement plan recordkeepers. The unit combines former Schwab Institutional and Schwab Corporate and Retirement Services operations. Walt Bettinger, President and CEO commented, “There are clear synergies between more...
11/14/08 11:56 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today its decision not to apply for participation in the U.S. Treasury Department’s Capital Purchase Program. The application period for participation closes today, Friday, November 14. Chairman Charles R. Schwab commented, “The TARP program promises to play a vital role in restoring stability to the credit markets and providing support for the nation’s more...
11/14/08 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of October 2008 include: Net new assets brought to the company by new and existing clients in October 2008 totaled $6.6 billion. Total client assets were $1.160 trillion as of month-end October, down 22% from October 2007 and down 11% from September 2008 more...
11/12/08 7:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab today announced a new eight-step plan to help people prioritize their savings objectives. Schwab’s eight “Savings Fundamentals” are designed to help individuals prioritize and manage their short and long-term personal and financial goals. “One of the few benefits to the current market environment is that people are focusing more on saving money,” said Catherine more...
11/10/08 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Investment advisors are leaving established financial firms and becoming independent registered investment advisors (RIAs) because they want to work for themselves, deliver more personalized service to clients, and achieve long-term financial success, reports a Schwab Institutional survey of newly independent registered investment advisors. Three-quarters of those surveyed cite a preference to work for themselves and 62 more...
11/7/08 12:13 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab & Co., Inc. has released six tips from Schwab Center for Financial Research Senior Vice President Mark W. Riepe, CFA, for investors to keep in mind as they manage their 401(k) in today’s volatile market. The full commentary and accompanying charts that help clarify some of these points are located at: http://www.schwab.com/public/schwab/research_strategies/market_ insight more...
11/6/08 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab & Co. Inc., is using its Web site: www.schwab.com to provide perspective from its founder and Chairman, Charles R. Schwab, on recent market events. The site features a series of video questions and answers, an open letter to investors, and new 30 and 60 second advertisements recently produced for television spots. The video questions and answers featuring Mr. Schwab provide perspective on a more...
11/5/08 1:15 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that it has scheduled a Business Update for institutional investors on Wednesday, November 19, 2008. This Update is designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from approximately 8:30 a.m. - 1:00 p.m. PT, 11:30 a.m. - 4:00 p.m. ET. Participants will include members of more...
11/3/08 9:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab has released a new report revealing an important connection between how a company offers its 401(k) plan matching contribution and employee saving levels. From 2004 to 2007, employees at companies with retirement plans serviced by Schwab were most likely to choose the plan’s “match ceiling” as their deferral level in order to maximize the employer contributions they can receive. The match more...
10/28/08 1:35 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--With turmoil on Wall Street causing many to wonder how they can continue to support their favorite charities, Schwab Charitable released today a series of tips to help donors stretch their charitable budgets — even in tough economic times. Past economic downturns have cut deeply into nonprofit bottom lines precisely when demands for services have increased. During two economic declines, 1973 and 2001, more...
10/23/08 1:24 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.06 per common share. The dividend is payable November 28, 2008 to stockholders of record November 14, 2008. About Charles Schwab The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.3 million client brokerage accounts, 1. more...

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