Charles Schwab & Co., Inc. Deploys CheckFree APL(SM) to Deliver Mutual Fund Advisory Product
18 Outubro 2006 - 11:05AM
PR Newswire (US)
ATLANTA, Ga. and NEW YORK, Oct. 18 /PRNewswire-FirstCall/ --
Managed Account Solutions Booth #7 -- CheckFree Corporation
(NASDAQ:CKFR) today announced that Charles Schwab & Co., Inc.,
one of the top investment firms in the U.S., has released eight
mutual fund wrap portfolios via CheckFree APL(SM). A CheckFree
customer since 1992, Schwab has expanded its deployment of
CheckFree APL as a result of the robust architecture and proven
flexibility and scalability of the platform. CheckFree APL will
power portfolio management and monitoring services for Schwab
Managed Portfolios. According to Cerulli Associates, mutual fund
advisory assets have grown 153 percent from 2002 to 2006. Assets
under management in mutual fund advisory products grew from $130 to
$319.5 billion in that time period. By launching Schwab Managed
Portfolios on CheckFree APL, Schwab can leverage the extensive
CheckFree APL functionality to design, monitor and adjust
diversified portfolios of mutual funds in response to market
changes and deliver the service to customers at a net cost of 50
bps, one third the program fee of similar offerings. The
integration of CheckFree APL enables Schwab money managers to
create sophisticated trading strategies in an automated and
scalable manner, providing clients with a comprehensive investment
lifecycle to support individual expansion to the next generation of
investment services. Launched in July, 2006, Schwab Managed
Portfolios (http://www.schwab.com/smp) includes four taxable and
four non-taxable wrap products with ready-made investment
strategies ranging from moderately conservative to aggressive.
Ongoing advisory services are also provided to deliver consistent
guidance and tailored services to clients. CheckFree APL provides
the scalability and flexibility to enable Schwab financial
consultants to rapidly add accounts to the enterprise-wide
platform. "The success of Schwab Managed Portfolios highlights a
natural progression in the use of the CheckFree platform to support
the future of investment services, from separately managed accounts
to unified managed households and beyond," said Michael Gianoni,
executive vice president and general manager at CheckFree
Investment Services. "CheckFree APL has enabled Schwab to introduce
an enterprise-wide service that delivers additional choices to
clients without the need for additional support personnel."
CheckFree APL delivers an innovative, advanced Separately Managed
Accounts platform that provides remote processing services to
sponsor firms, money managers and financial advisors for the
automation of investment management, trading, portfolio performance
and investor reporting. CheckFree's platform enables approximately
100 of the top Wall Street sponsor firms and 150 separate account
managers to interface with each other, and operate in a
straight-through processing environment. Institutional money
managers also use CheckFree APL to enter and maintain account data,
manage trades and measure portfolio performance. About Charles
Schwab The Charles Schwab Corporation (NASDAQ:SCHW) is a leading
provider of financial services, with more than 330 offices and 6.8
million client brokerage accounts, 529,000 corporate retirement
plan participants, 180,000 banking accounts, and $1.3 trillion in
client assets. Through its operating subsidiaries, the company
provides a full range of securities brokerage, banking, money
management and financial advisory services to individual investors
and independent investment advisors. Its broker-dealer subsidiary,
Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org/
), offers a complete range of investment services and products
including an extensive selection of mutual funds; financial
planning and investment advice; retirement plan and equity
compensation plan services; referrals to independent fee-based
investment advisors; and custodial, operational and trading support
for independent, fee-based investment advisors through its Schwab
Institutional division. The Charles Schwab Bank, N.A. (member FDIC)
provides banking and mortgage services and products. The company's
other operating subsidiaries include U.S. Trust Corporation (member
FDIC) and CyberTrader(R), Inc. (member SIPC, http://www.sipc.org/
). More information is available at http://www.schwab.com/. About
CheckFree (http://www.checkfreecorp.com/) Founded in 1981,
CheckFree Corporation (NASDAQ:CKFR) provides financial electronic
commerce services and products to organizations around the world.
CheckFree Electronic Commerce solutions enable thousands of
financial services providers and billers to offer their customers
the convenience of receiving and paying their household bills
online or in person through retail outlets. CheckFree Investment
Services provides a broad range of investment management solutions
and outsourced services to hundreds of financial services
organizations, which manage about $1.4 trillion in assets.
CheckFree Software develops, markets and supports software
applications that are used by financial institutions to process
more than two-thirds of the 14 billion Automated Clearing House
transactions in the United States. The division also provides
operational risk management, financial messaging, corporate
actions, and regulatory compliance software to more than 1,500
organizations across the globe. Certain of the Company's statements
in this press release are not purely historical, and as such are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These include statements
regarding management's intentions, plans, beliefs, expectations or
projections of the future. Forward-looking statements involve risks
and uncertainties, including without limitation, the various risks
inherent in the Company's business, and other risks and
uncertainties detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ended June 30, 2006 (filed September 8, 2006). One or more of these
factors have affected, and could in the future affect the Company's
business and financial results in future periods, and could cause
actual results to differ materially from plans and projections.
There can be no assurance that the forward-looking statements made
in this press release will prove to be accurate, and issuance of
such forward-looking statements should not be regarded as a
representation by the Company, or any other person, that the
objectives and plans of the Company will be achieved. All
forward-looking statements made in this press release are based on
information presently available to management, and the Company
assumes no obligation to update any forward-looking statements.
DATASOURCE: CheckFree Corporation CONTACT: Media, Judy DeRango
Wicks, +1-678-375-1595, or , or Investor, Tina Moore,
+1-678-375-1278, or , both of CheckFree Corporation Web site:
http://www.checkfreecorp.com/ http://www.schwab.com/
http://www.schwab.com/smp http://www.sipc.org/
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