DES MOINES, Iowa — There was a clear cry for help. When the markets began going haywire in October, Charles Schwab & Co. saw its customers reaching out for assistance. Recently released data shows that the number of consultations jumped 40 percent from September to October as plan participants, unnerved by the volatile stock market and talk of recession, sought one-on-one advice.

"Most employers are stepping up to the plate, providing help and advice through financial services providers," said Dean Kohmann, Schwab's vice president of 401(k) plan services. "It's a great opportunity to meet a need when it's needed the most."

The number of transfers to mutual funds perceived as safer, such as stable value or money-market funds, soared more than 50 percent in the September-October time frame compared with the same period a year ago. Still the transfers represented less than 1 percent of total plan assets, Kohmann said. That indicates some panic selling, but that most people are staying the course.

Schwab's report also shows an increase in the number of people decreasing their 401(k) contributions. "October was one of the worst in history, when about 3 percent of our retirement participants reduced their savings rates," Kohmann said. "That's higher than what we've seen in the past. Usually its about 1 to 1 1/2 percent a month."