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Schwab Concludes Retirement Business Acquisition

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The Charles Schwab Corporation announced it has completed acquisition of the 401(k) Companies Inc. from Nationwide Financial Services Inc.

Schwab, San Francisco, says the 401(k) Company will remain in Austin, Texas, and will join its Corporate and Retirement Services division.

The 401(k) Company has shown strength in serving mega-retirement plans–those with more than $500 million in assets and more than 8,000 participants. Schwab has been strong in the small, mid and large retirement-plan segments.