Schwab Institutional is offering its independent
fee-based advisor clients two tools that can replace paper account
statements.
The company says advisors can download, archive by master account and
print their clients' Schwab statements at Schwab Institutional's Web
site, at http://www.schwabinstitutional.com.
A second tool allows advisors' clients to view,
print and save their monthly statements at http://www.schwabinstitutional.com, a
Web site devoted to clients of advisors doing business with Schwab
Institutional.
Advisors will be able to access updated client
statements by the end of the fifth business day of every month,
according to Schwab.
Later in the month, advisors will also be able to view, download and
save their clients' 2005 1099 tax forms from the Schwab Institutional
Web site.
"This service enables advisors to simplify their
clients' paperwork and storage needs and respond to the preferences of
their clients who would rather receive and manage electronic
documents," says Steven Hirsch, vice president of Schwab Institutional.