Schwab Helps Build Savings With IRA Support for Investors

Educational Tools, Resources and Personal Guidance Provide Investors with Clarity around Tax Changes and IRA Savings Advantages Heading Into Tax Season

Monday, January 24, 2011 8:00 am PST



Public Company Information:

"Schwab professionals are available to provide easy, valuable guidance on Roth IRA conversions that cuts through the confusion to get them back on track for the next phase of your life."

SAN FRANCISCO--(BUSINESS WIRE)--As an increasing number of Americans approach retirement and begin the New Year with a renewed emphasis on saving for the future, Charles Schwab is providing a smart and easy way to help minimize taxes while building retirement savings with IRA products that are easy to open and fund. In about 15 minutes, investors can open a traditional or Roth IRA account prior to the April 18 deadline at

With no fees to open and maintain, the Schwab IRA carries a low $1,000 minimum requirement. To support investors, Schwab offers online tools and resources that analyze whether a traditional or Roth IRA could be right for them and answer common questions. For investors who want personal guidance, a Schwab IRA Concierge can answer questions about IRA funding and investing, and assist with paperwork.

“IRA accounts represent a smart way to save for retirement because of the tax advantages, and we encourage investors to explore the resources available from Schwab to capitalize on these opportunities,” said Schwab Financial Consultant Casey Mervine. “Schwab professionals are available to provide easy, valuable guidance on Roth IRA conversions that cuts through the confusion to get them back on track for the next phase of your life.”

This tax season, Charles Schwab clients can also take advantage of special discounts on TurboTax1 products and enjoy time-saving benefits including the ability to pre-populate TurboTax tax forms. Clients receive 35 percent off TurboTax Online Federal Edition and 25 percent off TurboTax Desktop Download.

Schwab’s Smart, Easy IRA

A Schwab IRA makes it easy to open a retirement account online in about 15 minutes. Schwab IRAs offer a number of advantages to investors, including no account service fees, low minimum balance requirements, automatic deposits, and access to complimentary consultations to help people through the process of opening their account and matching their portfolio to their needs and risk profile. Schwab IRAs also provide access to a wide range of investment choices that make it easy to invest, including ETFs and mutual funds, as well as stocks, bonds, CDs and more. Schwab also offers a wide range of information and resources to help investors find the IRA type that’s right for them, available at or by calling 1-800-308-1479.

Schwab IRA investors also benefit from the firm’s low-cost online equity trade commissions designed to provide greater value for investors of all sizes, regardless of the frequency or size of their trades. Schwab retail investors pay just $8.95 commission for online equity trades.2

Rollover IRA

Schwab also makes available complementary 401(k) Rollover Consultants who can work with an individual and their former plan administrator to request a funds transfer, open a new Rollover IRA over the telephone, help complete all the required paperwork, and arrange an appointment with a Schwab Professional to help select investments once the account is opened and funded. For additional information, Schwab encourages investors to visit or call 866-855-9095.

Roth IRA

With income restrictions for converting to a Roth IRA lifted as of January 1, 2010, individuals who make more than $100,000 adjusted gross income can now convert assets from a traditional IRA or 401(k) into a Roth IRA.3 Investors can review a wealth of online tools and resources available at

Additional Information

Schwab encourages investors to visit for a full list of options and further resources, or call 1-800-308-1479 or visit a Schwab branch to take advantage of the remaining window for opening a retirement account prior to the April 18 tax deadline.

This information is for general information purposes only and is not intended as a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends you consult with a qualified tax advisor, CPA, financial planner or investment manager.

1 TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. TurboTax is not affiliated with Charles Schwab & Co., Inc. ("Schwab") and is solely responsible for the provided information and content.

2 Restrictions Apply: The $8.95 commission does not apply to foreign stock transactions, large block transactions requiring special handling, or restricted stock transactions. All broker-assisted and automated phone trades are subject to service charges. A minimum deposit of $1,000 is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for full fee and commission schedules. Employee equity compensation transactions are subject to separate commission schedules.

3 Changes to Roth IRA conversion income limit rules may not apply in all states. Certain states may impose penalties on conversions above the current income limits. Consult with a tax advisor for more information.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.0 million client brokerage accounts, 1.5 million corporate retirement plan participants, 690,000 banking accounts, and $1.57 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,, 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 Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at and (0111-0704)

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Charles Schwab
Alison Wertheim, 415-667-0475
Pablo Rodriguez, 415-486-3267

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