Schwab Performance Technologies Announces Pricing Changes for Its Outsourced Portfolio Accounting Solution

Friday, January 15, 2010 8:00 am PST



Public Company Information:

"Highest in Investor Satisfaction with Self-Directed Services"

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Performance Technologies (SPT), a leading provider of technology solutions for independent investment advisors (RIAs), today announced changes to its pricing that will provide greater access to its services and ensure that pricing is not an obstacle to firms seeking to outsource data management and performance reporting. SPT is lowering the annual minimum fee for PortfolioServices, the company’s hosted performance reporting solution from $15,000 to $12,000 and is also lowering the annual per account fees by 20 percent. In addition, SPT is introducing an Emerging Practice option for SPT client firms with fewer than 100 accounts and less than $50 million in assets under management. Firms that qualify as an Emerging Practice will have their annual fee reduced to as low as $8,000 a year.

“We have received feedback from a number of advisors that they would like to outsource their performance reporting and data management as a way to focus more on their clients and to grow their firms more efficiently,” said Neesha Hathi, vice president of technology solutions for Schwab Advisor Services. “As part of our ongoing commitment to provide value to advisors and help remove barriers to growth, we decided to change the pricing structure for PortfolioServices to allow as many firms to take advantage of SPT’s outsourcing services as possible.”

PortfolioServices was introduced in 2008 to provide RIAs with an outsourced option for portfolio data management. Based on SPT’s portfolio data management software PortfolioCenter®, PortfolioServices streamlines data management tasks, allowing RIAs to save time on back office operations and devote more time to serving clients and growing their businesses. Advisors are able to view client holdings, generate client presentations, and create invoices with a minimum investment of time and money. Through PortfolioServices, SPT now provides back office outsourcing services to more than 133 independent investment advisory firms. Client assets handled through PortfolioServices total more than $28 billion as of December 31, 2009.

“PortfolioServices has also proven to be a popular solution for newly independent advisors, who represent close to 40 percent of SPT clients that have adopted PortfolioServices in the last two years,” said Hathi. “We expect that SPT’s new Emerging Practice model will be of particular interest to these firms, as it lowers the barrier to entry even further as they begin to build their new businesses.”

The new Emerging Practice offering is specifically designed for smaller firms looking for premium back office outsourcing technology, but do not yet require the full range of data management services. The annual minimum fee for advisors who custody with Schwab Advisor Services is $8,000. Once the advisor firms grow beyond 200 accounts, they will automatically transition to the standard service offering. This new offering is based on the highly successful Emerging Practice model that SPT has employed for PortfolioCenter since 2006. In addition to the pricing changes for PortfolioServices, SPT is also expanding Emerging Practice for PortfolioCenter to include firms with up to 100 client accounts.

Advisors interested in seeing the new detailed pricing schedule for PortfolioServices or PortfolioCenter should call Schwab Performance Technologies at 1-800-528-9595, option 2.

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 7.7 million client brokerage accounts, 1.5 million corporate retirement plan participants, 706,000 banking accounts, and $1.4 trillion in client assets as of Dec. 31, 2009. 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. Named "Highest in Investor Satisfaction with Self-Directed Services" by J.D. Power and Associates in 2009, 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 Schwab Advisor Services. Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at (0110-0350)


Charles Schwab
Lindsay Tiles, 415-667-0479

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