$7.7 Billion in Net New Assets Fuel Record Year for Schwab Corporate Services

$7.7 Billion in Net New Assets Fuel Record Year for Schwab
Corporate Services 


SAN FRANCISCO, Jan. 31  /PRNewswire-FirstCall/ -- Schwab Corporate Services, a
leading provider of workplace financial benefit plan services, posted record
performance in 2004, bringing in $7.7 billion in net new assets. The inflow
included new assets from Schwab's bundled retirement plan, third-party
administrator, designated brokerage and stock plan service businesses.

"Schwab Corporate Services grew at a record pace last year by delivering great
service, innovation and value to plan sponsors and third-party administrators
alike," said Charles R. Schwab, chairman and CEO of The Charles Schwab
Corporation. "The business continues to fulfill a key part of our strategy to
help individual investors make the most of employer-sponsored savings and
investment plans. These plans are the cornerstone of retirement savings for
many of our clients."

Schwab Corporate Services and the other institutional businesses at Schwab play
a vital role as the firm continues to deepen relationships with individual
investors by serving them through the workplace. This month in its earnings
release, the firm announced record non-trading revenues for the fourth quarter,
including revenues contributed by Schwab Corporate Services.

2004 Business Highlights

"Record growth in net new assets demonstrates our continued ability to meet
marketplace demands for excellent service and innovative products in all of our
business channels," said Jim McCool, president, Schwab Corporate Services.

Retirement Plan Services added $2.6 billion in net new assets in 2004 and
announced 81 new bundled retirement plans. Schwab credits growth in the bundled
sector in part to its successful launch of managed account and advice services
at no additional cost.*

Plan Administrator Services (PAS) added $3.8 billion in net new assets, and
attracted 28 new third-party administrators (TPAs) to its network. PAS provides
trust and custody, trading and recordkeeping solutions to TPAs. PAS introduced
several new trust and custody products last year, and the unit's Schwab
Retirement Technologies group successfully rolled out its new online
Application Service Provider (ASP) model, which clients are already utilizing
to serve more than 250,000 plan participants.

Designated Brokerage added 56 new corporate clients in 2004 and brought in $1
billion in net new assets. Designated Brokerage offers employee-monitoring
solutions to SEC- and NASD-regulated firms. A rebound in the financial services
industry and Schwab's service reputation and competitive pricing contributed to
the strong growth.

Stock Plan Services brought in $259 million in net new assets, and added over
40,000 participants and $9.3 billion in plan value in 2004. Stock Plan Services
provides equity compensation services to public corporations. The unit's
expertise in administering restricted stock plans played an important role in
its success. Such plans are becoming increasingly popular as clients seek ways
to augment their traditional stock option plans.

About Schwab Corporate Services

Schwab Corporate Services (SCS) provides services to retirement plans,
retirement plan sponsors and participants through Schwab Retirement Plan
Services, Inc. (SRPS), The Charles Schwab Trust Company (CSTC), Schwab
Retirement Technologies(R), and Charles Schwab & Co., Inc. SCS also provides
equity compensation plan services and other financial and retirement services
to corporations and executives. SRPS provides recordkeeping and related
services with respect to retirement plans. CSTC, a California state-chartered
trust company, provides trust and custody services with respect to benefit
plans. Schwab Retirement Technologies is engaged in developing and licensing
proprietary retirement plan recordkeeping systems to independent Third Party
Administrators. Charles Schwab & Co., Inc. (Member SIPC) is a registered
broker/dealer, offering the Schwab Personal Choice Retirement Account(R)
(PCRA), as well as other brokerage and custody services to its customers. These
entities are affiliates of each other and are wholly owned subsidiaries of The
Charles Schwab Corporation. Total client assets in employer-sponsored
retirement plans at Schwab equaled $131 billion at the end of December 2004.
The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through Charles Schwab &
Co., Inc. (member SIPC), U.S. Trust Corporation (member FDIC), CyberTrader(R),
Inc. (member SIPC) and its other operating subsidiaries, is one of the nation's
largest financial services firms. (0105-3601)

* "At no extra cost" means that there is no cost for service outside the fees
paid to SRPS and Charles Schwab & Co., Inc. (CS&Co.) for recordkeeping and
related services, including trustee and custodial fees paid to The Charles
Schwab Trust Company. The advice, including the managed account service, is
provided by a third party, GuidedChoice, Inc., an innovator in the development
and delivery of investment advice. The GuidedChoice(TM) service and the
investment advice are formulated and provided by GuidedChoice Asset Management,
Inc. (GuidedChoice). GuidedChoice is not affiliated with, nor is it an employee
or agent of, CS&Co. or SRPS. The GuidedChoice service is available to
participants enrolled in plans that use the recordkeeping and related services
of SRPS. Availability subject to regulatory requirements. Plan sponsors must
elect to make the GuidedChoice service available. Availability may be limited
due to plan type and plan provisions. Participant access to the GuidedChoice
service is facilitated through SRPS's affiliate, CS&Co. Neither CS&Co. nor SRPS
supervises, makes recommendations with respect to, or takes responsibility for
monitoring the advice provided to participants by GuidedChoice. These entities
are affiliates of each other and are wholly owned subsidiaries of The Charles
Schwab Corporation. 

DATASOURCE: Charles Schwab



CONTACT:  Mike Peterson, [phone], or , or

Lindsay Tiles, [phone], or , both of Charles

Schwab



Web site:  http://www.schwab.com/

Copyright