Charles Schwab of San Francisco has begun offering its customers an investment advisory service to which they can gain access in person or by phone for a $400 annual fee.
Called Schwab Portfolio Consultation, the service will allow Schwab customers to meet two times with a financial advisor. In the first session, the investor is counseled on setting up a financial plan. At the second meeting, the Schwab financial advisor will assess how well the investor's investment goals are being achieved and, if necessary, recommend specific funds and other investments available through the Schwab supermarket, according to the firm. The advisor will also educate the investor about how to use Schwab online tools.
This new service follows the introduction of Schwab's online 401(k) advice, late last year. (MFMN 12/ 29/99)