Investment Products and Services

T. Rowe Price expands 401(k) brokerage services with Charles Schwab; USAA launches R6 retirement share classes; T. Rowe Price introduces Total Return Fund; and more.

By Javier Simon | December 01, 2016
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T. Rowe Price Expands 401(k) Brokerage Services with Charles Schwab
Beginning in April 2017, Charles Schwab’s Personal Choice Retirement Account (PCRA) will be available for T. Rowe Price’s recordkeeping clients and their participants across all market segments. Charles Schwab’s platform is currently available to T. Rowe Price’s small-market clients.

This self-directed brokerage account allows plan participants to invest a portion of their retirement plan savings in a wide range of investments beyond those that are ‘core’ to the employer’s retirement plan.

“We believe Schwab’s brokerage platform meets the unique needs of our recordkeeping clients across all market segments,” says Diana Awed, head of Product & Marketing at T. Rowe Price Retirement Plan Services. “We look forward to providing our clients with key product enhancements that are important to them, such as direct access for a participant’s financial adviser, paperless account opening, online fixed income trading, and the ability to trade through multiple channels.

This service is for T. Rowe Price Retirement Plan Services recordkeeping clients only, and does not pertain to brokerage services provided by T. Rowe Price to individual investor clients.

T. Rowe Price Retirement Plan Services has been a retirement solutions provider for more than 30 years and currently serves nearly 1.9 million retirement plan participants across more than 3,500 plans. Retirement-related assets represent 69% of the firm’s total assets under management.

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