Schwab Performance Technologies(R) Introduces Complete Performance Reporting Solution for Independent Investment Advisors

PortfolioServices Allows Advisors to Increase Efficiency by Outsourcing Key Back Office Tasks

Monday, June 23, 2008 8:00 am PDT



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RALEIGH, N.C.--(BUSINESS WIRE)--Schwab Performance Technologies (SPT), a leading provider of technology solutions for independent investment advisors, today announced a new name and enhanced offering for registered investment advisors (RIAs) who want to outsource back office functions such as portfolio data management and performance reporting. PortfolioServices is a full-service, hosted performance reporting solution based on PortfolioCenter®, SPTs portfolio data management software, and employing the outsourcing service experience of Etelligent Consulting, Inc, acquired by SPT in January.

Through PortfolioCenter and now PortfolioServices, advisors will have greater flexibility in how they work with Schwab, whether they want to run their software in-house with support from us or to outsource this component of their back office as a way to gain efficiency in their practice, said Dan Skiles, vice president of technology for Schwab Institutional.

PortfolioServices, while appropriate for firms of any size, is also part of Schwab Institutionals recently announced Schwab Business Start-up Solutions program for advisors seeking to become independent investment advisors.

Whether advisors are just starting out or evaluating opportunities to scale their business, managing technology can be a significant challenge; they have to research alternatives, purchase software and hardware, ensure that all systems are integrated, and then train their staff to run those systems, said Skiles. We are already getting interest in our new PortfolioServices offer among advisors who are experiencing rapid growth or are in the midst of making the transition from employees to business owners.

All PortfolioCenter and PortfolioServices clients will now be supported by SPT professionals based in both Raleigh, NC and Overland Park, KS the service center gained through the acquisition of Etelligent. Since the acquisition closed five months ago, SPT has also made significant investments in system infrastructure to expand capacity and improve security and site performance to better serve PortfolioServices clients.

Guided by a philosophy of true open architecture, SPT provides interfaces with more than 40 different broker-dealers. As with PortfolioCenter, SPT will make PortfolioServices available to all independent investment advisors whether or not they custody assets with Schwab Institutional.

Later in 2008, PortfolioServices will add a new premium report for advisors to share with their clients. The new report will include more flexibility for advisors to customize to meet individual client needs. Other new benefits for advisors using PortfolioServices will include a quarterly newsletter and new online training tools to help advisors successfully integrate SPT services into their practices.

About Schwab Performance Technologies

Founded in 1985, Schwab Performance Technologies (SPT) 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. SPT develops powerful portfolio management solutions to help advisors manage their practice and service their clients. PortfolioCenter® and PortfolioServices are products of SPT. An open architecture firm, SPT provides services to all independent advisors regardless of custodial relationships. SPT also supports third party outsourcing providers who use PortfolioCenter as the basis for their offering. More information is available at

About Charles Schwab

The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.2 million client brokerage accounts, 1.3 million corporate retirement plan participants, 344,000 banking accounts, and $1.5 trillion in client assets as of May 31, 2008. 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,, 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 (member FDIC) provides banking and mortgage services and products. More information is available at (0608-0888)


Charles Schwab
Lindsay Tiles, 415-667-3997

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