Charles Schwab is making its Schwab and Laudus MarketMasters funds available to third parties through four clearinghouses and brokers outside of the company. The dealers who are currently licensed to sell its funds include: Ameritrade, Fidelity Investments, T.D. Waterhouse and Union Bank of California. Pershing and Fiserv Trust are soon to be added to the list.
Evelyn Dilsaver, president and chief executive officer of Charles Schwab Investment Management, said, "The popularity and performance of Schwab's mutual funds have caught the interest of brokers and independent advisers who until now haven't been able to offer Schwab funds to their clients. These funds have been hidden gems despite their great story."