Charles Schwab

[12AX7]

Does Schwab offer participant record-keeping services? If not, what are options for TPAs that don't do daily record-keeping? Thanks.

[SheilaD]

We have some self-directed plans with Schwab accounts. The participants have seperate accounts for each source of money OR we do valuations that allocate the gains/losses between different money types. We do not do daily valuations.

[12AX7]

Thanks Sheila for your reply. My concern is where two or more participants want to invest in the same managed group of funds, and the plan offers several managed fund accounts. I don't want to do daily valuation, but would like to offer this service perhaps using a third party record-keeper. I believe something like this does exist, but don't know exactly where.

[Bird]

I think Schwab does provide recordkeeping services. I started to inquire but the minimums and/or fees were so far from being practical for the plans that I work on that I didn't get very far. Sorry but I don't remember any of the details.

We do have a couple of plans that use Schwab accounts for self-direction, but it's just a more-or-less "regular" account where we get copies of paper statements and we keep track of the money by source. I find it really hard to charge "enough" for that type of service...

[Gadgetfreak]

RPG Consultants provides daily recordkeeping services and trades with Schwab. They work with many TPAs and can provide recordkeeping-only services for other TPAs.

[12AX7]

Thanks everyone for the replies.