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THE CHARLES SCHWAB FINANCIAL ADVISORS SERVICE INTRODUCES SCHWABLINK 2000

 SAN FRANCISCO, June 23 /PRNewswire/ -- Charles Schwab & Co., Inc.'s Financial Advisors Service(R) announced today the introduction of a new and radically more powerful generation of software geared to the expanding segment of fee-based Financial Advisors. SchwabLink(TM) 2000 is an innovative program that creates an almost "paperless" office for financial advisors by allowing direct online access to an expanded array of their client's data and by providing electronic trading directly through Schwab. The program is an upgrade to the earlier successful SchwabLink software introduced by Schwab in 1991.
 SchwabLink 2000 incorporates a powerful database program, the Account Information Management (AIM) system, that allows financial advisors nationwide to access a wide array of client data from Schwab's main computer in San Francisco. Advisors who desire further account analysis and customized reporting can purchase software from vendors that will interface with Schwab data. Additionally, SchwabLink 2000 provides Reconciliation capabilities that will automatically compare the balances and positions in such portfolio management systems with those downloaded from Schwab.
 SchwabLink 2000 also provides Electronic Fund Trading which empowers financial advisors who trade no-load mutual funds to place hundreds of mutual fund trades "online" for their clients in a matter of minutes. Electronic confirmations are displayed for easy access with built-in sorting capabilities for easy segregation between each client account per day.
 "This progressive technology is the brainchild of over 3,500 Advisors who are currently clients of Charles Schwab," stated John Coghlan, Executive Vice President of Schwab's Financial Advisors Service. "Advisors told us what they needed to make them more efficient in their daily contact clients. We've responded with the added flexibility of enhanced trading, more account information, and quick access to a variety of time-saving functions to meet their needs."
 "The top efficiency has to be the customization feature," stated Richard Sabby, President of the Monument, Colorado-based Investment Strategies. "Our whole methodology of doing business is critically anchored by our account and portfolio number system. Now we no longer have to spend critical time to make a logistical link to match our numbers with Schwab's." Cathy Boggs, Account Manager with the San Francisco-based Bay Isle Financial Corporation, credits the new electronic confirmation feature for improving office efficiency. "It's an immense help in record keeping for the 500 accounts we manage. In the past, I've had to hire additional staff just to maintain our files."
 All financial advisors that currently use SchwabLink, will receive a free upgrade to SchwabLink 2000 by Charles Schwab's Financial Advisors Service. Advisors can receive more information by calling 1-800-647-LINK.
 The Financial Advisors Service, a division of Charles Schwab & Co., Inc., provides a full package of administrative services and operational support to more than 3,500 independent financial advisors nationwide. Financial Advisor client assets in custody at Schwab increased 84 percent over the last year to more than $15 billion.
 Charles Schwab & Co., Inc. is one of the nation's leading providers of discount securities brokerage, no-fee IRAs, and no-load, no transaction fee mutual funds to over 2.2 million accounts with more than $73 billion in client assets.
 -0- 6/23/93
 /CONTACT: Robert Gaynor, product manager, Financial Advisors Service of Charles Schwab & Co., Inc. 415-403-5679; or Desmond Towey or Bernadette McLaughlin, both of Desmond Towey & Associates, 212-888-7600 all for Charles Schwab & Co., Inc./
 (SCH)


CO: Charles Schwab & Co., Inc. ST: California IN: CPR SU: PDT

LR -- NY063 -- 5124 06/23/93 15:56 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:567
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