SAN FRANCISCO, Aug. 21 /PRNewswire-FirstCall/ -- Schwab Institutional, a leading provider of custodial, operational and trading support for independent fee-based investment advisors, has published a book chronicling the history of the independent Registered Investment Advisor (RIA) industry titled "The Age of Independent Advice: The Remarkable History of the Independent Registered Investment Adviser Industry."

The history book is being published for advisors in celebration of Schwab Institutional's 20th anniversary serving the independent investment advisor industry. Each of the more than 5,000 firms that work with Schwab Institutional will receive a copy of the book. The book will also be posted on Schwab Institutional's public web site at http://www.schwabinstitutional.com/public/anniversary.shtml.

"Schwab and the RIA industry have grown up together, and the evolution has indeed been remarkable," said Charles Goldman, executive vice president of Schwab Institutional. "This book commemorates the successes of the past and conveys the promise of a very exciting future."

The book, which spans the 1920s through today and features archival art and a detailed fold-out historical timeline, is dedicated to "all independent investment advisors who through entrepreneurial spirit, integrity and passion, have dedicated their lives to helping clients achieve their financial goals and dreams." It takes an objective, decade by decade look at the people and events that influenced the industry's formation, growth and evolution. Among the highlights is a foreword by Charles R. Schwab, in which he gives a personal salute to the industry and acknowledges the entrepreneurial spirit and values he shares with independent advisors.

Chapter Summaries:

Chapter 1 - Investing with a Difference: This chapter uses the lessons learned as a result of the market euphoria of the late '90s tech-driven boom and bust to introduce the reader to independent advisors, and their client- centric service model.

Chapter 2 - Birth of a Profession (1920s - 1940s): The founding of the independent advisor profession through the convergence of events and influences is explored: the 16th Amendment and the national income tax, the issuance of bonds for World War I, and the 1920s U.S. economic recovery. The chapter also introduces the early pioneers of the industry, the formation of the first industry association, and the events leading up to the Investment Adviser Act of 1940.

Chapter 3 - Stirrings Beneath the Surface (1940s - 1970s): These decades saw the formation of a regulatory structure and the early seeds of the financial planning profession taking root. World War II helped stimulate the end to the Great Depression however, little changed for investors and advisors, as the stock market remained the province of the very wealthy.

Chapter 4 - Dark Clouds with a Silver Lining (1970s - 1980s): While this was an era marked by stagnant business activity, rising unemployment and inflation, there were a few bright spots that set the foundation for the emergence of independent advisors as an important force in financial services: tax reform, the first money market fund, and changes in retirement laws.

Chapter 5 - An Industry Comes of Age (1980s - 2000s): As Baby Boomers entered their prime earning years, the U.S. economy experienced dramatic changes, including the start of the longest bull market in American history. The economic and demographic booms drove an unprecedented expansion in market participation and fueled the growth and evolution of independent advisors.

Chapter 6 - At the Crossroads (Today and Looking Forward): The turn of the century signaled a period of extraordinary growth for the independent advisor industry, making it one of the fastest growing sectors in financial services. Technological advancements, the growing demand for advice, Baby Boomer retirement, the global expansion of the financial planning profession, and regulatory changes are shaping the industry for tomorrow.

Schwab Institutional's annual event for independent investment advisors, IMPACT(R) 2007, will be the culmination of a year-long celebration of advisors' efforts and progress over the past two decades. The event will be held October 28-31 at the Mandalay Bay Convention Center in Las Vegas, Nevada. More information on IMPACT 2007 is available at http://www.impact.schwab.com/.

About Schwab Institutional

Schwab Institutional is a leading provider of custodial, operational and trading support for independent investment advisors. Since 1987, Schwab Institutional has supported independent investment advisors by offering support and services to help grow their businesses and help their clients reach their financial goals. As of June 30, 2007, client assets custodied with Schwab Institutional stood at $556 billion. These assets, managed by the approximately 5,000 independent advisor firms Schwab Institutional currently serves, represent approximately one-third of total client assets custodied with The Charles Schwab Corporation. Brokerage products offered by Schwab Institutional are not FDIC insured, are not guaranteed deposits, and are subject to investment risk, including the possible loss of principle invested. Schwab Institutional is a division of Charles Schwab & Co., Inc.

About Charles Schwab

The Charles Schwab Corporation is a leading provider of financial services, with more than 300 offices and 6.9 million client brokerage accounts, 1,169,000 corporate retirement plan participants, 187,000 banking accounts, and $1.4 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/), and affiliates offer 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. CyberTrader(R), Inc. (member SIPC, http://www.sipc.org/) is an electronic trading technology and brokerage firm providing services to highly active, online traders. More information is available at http://www.schwab.com/. (0807-1177)

CONTACT: Alison Wertheim of Charles Schwab, +1-415-636-5812,
alison.wertheim@schwab.com

Web site: http://www.schwab.com/