Charles Schwab and AARP Announce New
Relationship to Help AARP Members Make More
Informed Financial Decisions
Relationship Makes Schwab Financial Guidance Services Program Available to AARP Members
January 31, 2011 08:33 AM Eastern Time
SAN FRANCISCO--(EON: Enhanced Online News)--Financial services firm Charles Schwab & Co., Inc. and
AARP today announced plans for Schwab to launch a new financial guidance services program for AARP members.
The program, AARP | Financial Guidance Services provided by Charles Schwab, will provide AARP’s millions of
members nationwide access to special offers on some of Schwab’s financial guidance services.
AARP provides financial education and information through many local and national programs as well as brochures
and on aarp.org. AARP’s financial education efforts will be enhanced by the new Schwab relationship, which
provides AARP members with access to guidance and services covering many different financial situations.
John Wider, president and CEO of AARP Services, Inc., AARP’s for-profit subsidiary, said, "Our members tell us
that achieving financial security is their top goal along the way to living their best lives. This new program will give
them easy access to straightforward information and financial guidance from a familiar source in a pressure-free
setting to help them with their goals and dreams."
Key benefits to AARP members through the program include complimentary financial consultations, educational
seminars throughout Schwab’s network of more than 300 branches, and a program fee rebate on Schwab Managed
Portfolios, a professionally managed, diversified portfolio of mutual funds designed for a range of investment
strategies. AARP members will also have access to a dedicated toll-free number at Schwab and content online.
“We are in the midst of a challenging economy that has disrupted how many Americans are thinking about and
planning for their retirement. Their need for information and access to resources is greater than ever, and through this
program, we hope to be able to help many of AARP’s members prepare for retirement on their own terms,” said
Ben Brigeman, executive vice president for Charles Schwab.
A recent survey of Americans 50 and older fielded by Schwab shows gaps between financial information received
and action taken among those on the verge of retirement. While 67 percent say they know what they need to know
to manage their finances successfully, just 10 percent say they feel prepared for planning and saving for retirement.
Additional findings from the survey include:
l Justforty-seven percent of respondents say they are handling their financial future actively
l More than half (53 percent) think their most challenging financial issues are in their future
l Another 31 percent say they still have a lot to learn about managing their finances successfully; in fact, 55
percent say they have learned more from their mistakes than from their financial successes
l More than six in ten (61 percent) of those surveyed would prefer to have options/opinions tailored to their
situation when it comes to seeking financial advice
About the Survey
The Charles Schwab Retirement Advice Survey was conducted by Kelton Research between December 15-20,
2010 using Random Digit Dialing of listed and unlisted numbers. Results of any sample are subject to sampling
variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of
the percentages expressing the results. In this particular study, the chances are 95 in 100 that a survey result does not
vary, plus or minus, by more than 3.9 percentage points from the result that would be obtained if interviews had been
conducted with all persons in the universe represented by the sample.
The Schwab-AARP Relationship
Charles Schwab & Co. Inc. (“Schwab”) offers certain financial guidance services to eligible AARP members (the
“Program”). Schwab is an independent registered broker-dealer not affiliated with AARP or any of its affiliates. All
brokerage services are performed by Schwab. AARP endorses the Program, but is not a registered broker-dealer
and does not provide brokerage services or financial advice and cannot recommend or endorse specific investments
in connection with the Program. For the first new account opened at Schwab by an AARP member, Schwab pays
AARP a one-time royalty fee for the use of AARP intellectual property (name, logo and mailing list). These fees are
used for the general purpose of AARP and do not increase any fees, commissions, charges, or expenses paid by you
to Schwab. Please contact Schwab directly for details.
About Charles Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than
300 offices and 8.0 million client brokerage accounts, 1.5 million corporate retirement plan participants,
690,000 banking accounts, and $1.57 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, 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 Schwab Advisor Services. Its banking
subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage
services and products. More information is available at www.schwab.com and www.aboutschwab.com.
Follow us on Twitter: @charlesschwab
AARP is a nonprofit, nonpartisan organization, with a membership, that helps people 50+ have independence,
choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not
endorse candidates for public office or make contributions to either political campaigns or candidates. We produce
AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over
35.1 million readers; AARP Bulletin, the go-to news source for AARP's millions of members and Americans 50+;
AARP VIVA, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our
website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment
to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices
in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
About AARP Services, Inc.
AARP Services, Inc., founded in 1999, is a wholly-owned taxable subsidiary of AARP. AARP Services manages
the provider relationships for and performs quality control oversight of the wide range of products and services that
carry the AARP name and are made available by independent providers as benefits to AARP’s millions of members.
The provider offers currently span health products, financial products, travel and leisure products, and life event
services. Specific products include Medicare supplemental insurance; credit cards, auto and home, mobile home and
motorcycle insurance, life insurance and annuities; member discounts on rental cars, cruises, vacation packages and
lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance.
AARP Services also engages in new product development activities for AARP and provides certain consulting
services to outside companies. (1210-7654)
Matt Hurwitz, 415-297-4199
Nancy Thompson, 202-434-2560