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SCHWAB FINANCIAL ADVISORS SERVICE REACHES $10 BILLION, 100,000 CUSTOMERS

SCHWAB FINANCIAL ADVISORS SERVICE REACHES $10 BILLION, 100,000 CUSTOMERS
 SAN FRANCISCO, June 8 /PRNewswire/ -- The Charles Schwab & Co., Inc. (NYSE: SCH) announced today that investment advisor-managed assets held in custody at the firm have reached $10 billion. Started in 1987, Schwab's Financial Advisors Service (FAS) has doubled in size each year. In the past 12 months alone, advisor-managed assets have grown over 70 percent from $4.9 billion, and accounts have grown 50 percent, from 67,000 to 100,000. The FAS unit now serves over 2800 independent registered investment advisors.
 The Financial Advisors Service provides advisors and their clients specialized brokerage services, including an institutional trading desk in equities, fixed income, options and no-load mutual funds; account and market information through an electronic interface with Schwab; and a complete back-office support package. In addition, Schwab provides access to independent third-party research, and additional services such as a compliance newsletter alerting advisors to regulatory developments. The recently unveiled Charles Schwab Trust Company is focused on meeting advisor needs in the custody and employee-benefit trust areas. FAS also sponsors an annual National Financial Advisor Conference in San Francisco, attended by 350 advisors in 1991, which has featured speakers such as SEC Chairman Richard Breeden and Economist Milton Friedman, in addition to many workshops. The Charles Schwab Guide to Selecting a Financial Advisor serves as a resource to investors who seek the assistance of an independent advisor in the management of their portfolios.
 Commenting on the growth of the Financial Advisors Service, John Philip Coghlan, senior vice president and general manager, stated, "There is real benefit for investors who have decided to use an independent, fee-compensated investment manager when they house those assets at a discount broker like Schwab. They get advice without a conflict of interest, they save on commissions, and their advisor gets the institutional level of service that he or she deserves."
 Charles Schwab & Co., Inc. is one of America's largest discount brokers with 163 offices in 43 states. Schwab has 1.7 million active accounts with $49 billion in clients assets.
 -0- 6/8/92
 /CONTACT: John Philip Coghlan of Charles Schwab & Co., 415-403-5555, or Desmond Towey or Bernadette McLaughlin of J. Desmond Towey & Associates, 212-888-7600, for Charles Schwab & Co./
 (SCH) CO: Charles Schwab & Co. Inc. ST: California IN: FIN SU:


SM-TQ -- NY028 -- 7852 06/08/92 11:04 EDT
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Date:Jun 8, 1992
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