Charles Schwab 2010 Annual Report Download - page 5

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the year, we launched a web-based new issue municipal
bond calendar, making it easier for clients to review,
research, and order new issue municipal bonds online.
We also expanded our xed income offerings with
ve new PIMCO®-managed Municipal Bond Ladder
Separately Managed Accounts. These strategies are
designed for xed income investors seeking low-cost,
tax-advantaged solutions and income generation —
many of whom are in retirement.
Last year, we continued to invest in technology, including
the rst Schwab mobile app for the Apple® iPhone®. Of
course, transacting business over the phone is nothing
new for Schwab. We launched our TeleBroker® phone
service in 1989 and pioneered wireless access with
PocketBroker in 2000. But our newest mobile application
integrates brokerage and banking capabilities, with many
more exciting features to come this year, including the
ability to transfer funds and deposit checks directly from
a mobile device.
Our technology investments also included a major
rebuild of our platform for active traders with the new
StreetSmart Edge™, and we are working closely with
independent investment advisors on the development of
a state-of-the-art technology platform for managing their
businesses, Schwab Intelligent Integration™. Lastly, on
Schwab.com, we registered more than 250 million client
log-ins, with plans for substantial enhancements to our
client websites this year.
3. We believe investors should be informed
and empowered.
Last year, we shared our knowledge and expertise with
clients and non-clients alike.
In Schwab Investor Services, we provided help and
guidance to millions of individual investors while supporting
their increased engagement with their investments. For
example, attendance was up at more than 10,000 nancial
workshops held at local branches, with additional topics
available “on demand” on Schwab.com. Our quarterly
On Investing magazine was distributed to approximately
2.5 million households, and by year-end we introduced a
version for the Apple® iPad®.
In Schwab Institutional Services, we launched Schwab
Advisor University™ for independent investment advisors
— an interactive online training program with a dozen
self-paced courses ranging from new employee orientation
to client account opening and back-ofce processing.
We supplemented online access with face-to-face events,
including our regional SOLUTIONS® workshops and the
industry-leading IMPACT® conference attended by nearly
2,000 independent advisors.
For participants in Schwab-managed retirement plans, we
continued to offer high-quality, low-cost programs that can
help employees put more of their money into their own
pockets when they retire. We also published a landmark
study, “The New Rules of Engagement for 401(k) Plans,”
to help companies identify features that drive positive
participant outcomes, including advice, the employer
match, automatic enrollment, and automatic savings
increases. Millions of 401(k) participants can benet
because their employer has retained Schwab to help
manage their retirement plan.
For Americans at every stage of life — even non-clients
— we strengthened our commitment to nancial literacy
with funding, expertise, and volunteer support. Through our
alliance with Boys & Girls Clubs of America, we revamped
our Money Matters: Make It Count nancial education
program and launched the Make Change Count pledge
campaign to inspire teens to improve theirnancial
futures. We also began working with Goodwill Industries
International in Indianapolis to improve the nancial well-
being of the underserved and working poor. The program
is modeled after similar efforts in San Francisco and
Austin, Texas, where we provide nancial coaching for low-
income families. We also continued to expand our Schwab
MoneyWise® website, which helps thousands of Americans
master money basics.
4. We believe the best view of our business
is through clients’ eyes.
As I mentioned earlier, we continued to follow a
straightforward business philosophy: When you
put client needs rst, business results follow.
Last year, our branch employees conducted more than
600,000 personal interactions, while our phone-based
representatives elded almost 14 million calls from
individual investors, independent investment advisors,
and 401(k) plan participants. Not only did our investment
professionals handle a large volume of calls, but calls were
answered, on average, in just 21 seconds. And we made
3