Products June 23, 2008

Wachovia Releases Educational Video for Participants

A Wachovia Retirement Services (WRS) offering allows participants in Wachovia-administered plans to learn about the ins and outs of retirement savings.
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The video, Retirement Success, was created to help inform 2.2 million plan participants whose 401(k) accounts are managed by WRS about the key behaviors that drive retirement savings success, a Wachovia news release said.

The video features a spokesperson who talks through the importance of contributing as much of your pre-tax earnings as you can and the necessity of ensuring that your contributions are appropriately balanced for the stage of your life and your tolerance for risk, according to the news release. An interactive tool allows viewers to create custom projections based on their salary and contribution levels.

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More information is available at www.wachoviaretirementsuccess.com.

Products June 23, 2008

Schwab Updates Back-Office System for RIAs

The newly renamed PortfolioServices by Schwab Performance Technologies (SPT) enables RIAs to outsource back-office functions, the company said.
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The updated system by SPT is based on PortfolioCenter, the company’s portfolio data management software, according to a press release. Advisers can run the software in-house with support from Schwab or outsource a component of their back office, Schwab said. PortfolioServices is also part of the newly unveiled business start-up program for advisers seeking to switch to the registered investment adviser (RIA) channel (see Schwab Platform To Aid Adviser Transition to Independence).

All PortfolioCenter and PortfolioServices clients will be supported by SPT professionals based in both Raleigh, North Carolina, and Overland Park, Kansas—the service center gained through the acquisition of Etelligent Consulting, Inc., in January.

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Later in 2008, PortfolioServices will add a new premium report for advisers to share with their clients, Schwab said. Other new benefits with PortfolioServices will include a quarterly newsletter and online training tools to help advisers integrate SPT services into their practices.

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