Press Article

Schwab Speedy in Setting Up Advice
By 401kWire.com

(401kWire.com ) - As they approach the one-year anniversary of their partnership, Charles Schwab & Co., Inc. and financial advice provider GuidedChoice announce that they have advice up and running for participants in more than 100 retirement plans, with another 80 in the implementation process.

The advice service is offered to Schwab's defined contribution clients at no additional cost to participants. Schwab and GuidedChoice teamed up last fall and began large-scale implementation in January.

Schwab spokesperson Mike Peterson says, "We have approximately 450 or so DC plans for which advice would make sense. Our goal by the end of the year is to reach half of those plans. We'll continue to offer this to our clients and continue to promote it them."

"GuidedChoice has clearly demonstrated its ability to scale up rapidly and work with us to implement advice for a large number of plans in a short time," said Trish Cox, vice president, education and advice, Charles Schwab Corporate Services.

GuidedChoice has offices in San Jose and La Jolla, California. Its advisory software was developed under the oversight of Harry M. Markowitz, Ph.D., the Nobel laureate who developed Modern Portfolio Theory.

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