Charles Schwab & Co. Inc. and financial advice provider GuidedChoice announced Thursday that they are providing customized advice to participants in more than 100 plans administered by Schwab Retirement Plan Services Inc.

Schwab and GuidedChoice announced their collaboration last fall. The Schwab retirement plan unit makes this advice available to 401(k) participants at no additional cost.

Large-scale implementation began in January, Schwab said, and by the end of July, more than 100 plans were up and running with another 80 in the implementation process.

Participants in plans for which Schwab provides services can get access to advice online, by phone, or in person. The advice includes specific recommendations for savings rates and allocations among the participants' core investment fund choices. Participants can also get automatic account rebalancing.

GuidedChoice, with offices in San Jose and La Jolla, Calif., is an independent service company supplying investment advice and managed account services to retirement plan participants.

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