2011 Study Gives Schwab Top Honors in Account Offerings, Fees/Commissions, and Website Satisfaction; Second Highest Score in Overall Satisfaction
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab has been ranked second highest in overall satisfaction in the J.D. Power and Associates 2011 US Full Service Investor Satisfaction StudySM, rising significantly from its fourth place ranking in 2010.
In improving on this study, Schwab received the highest or second highest scores in five of the seven factors that drive the overall full service investor satisfaction ranking. Schwab leads the industry in account offerings, fees/commissions and website satisfaction. The firm scores second in investment performance and account information satisfaction.
“As a brokerage that serves a broad spectrum of investors with a full range of investment products, service and advice, Schwab’s performance in this year’s J.D. Power and Associates US Full Service Investor Satisfaction Study reminds us that an unwavering focus on client service and commitment to seeing through the client’s eyes is crucial to creating satisfying experiences for our clients,” said Schwab President and CEO Walt Bettinger.
Ben Brigeman, executive vice president of Schwab Investor Services added, “This year, despite an uncertain economy, we have continued to focus on fostering strong relationships and communication with our clients, providing tailored guidance to help Americans reach their financial goals, ensuring easy access to a breadth of high-quality financial products and developing innovative tools that help meet our clients’ needs. That’s what ‘full service’ means to us at Schwab.”
For the third consecutive year, Schwab led the industry in account offerings satisfaction. Schwab also scores highest in satisfaction with commissions and fees for a third consecutive year. The firm also leads the full service industry in website satisfaction.
Charles Schwab scored 805 (on a 1,000-point scale) in overall satisfaction, significantly higher than its 2010 score of 786.
The official J.D. Power and Associates press release can be viewed at businesscenter.jdpower.com/news/pressrelease.aspx?ID=2011084
About Charles Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.1 million client brokerage accounts, 1.4 million corporate retirement plan participants, 736,000 banking accounts, and $1.7 trillion in client assets as of May 31, 2011. 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 its Advisor Services division. Independent investment advisors are not owned, affiliated with or supervised by Schwab. 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. (0611-4085)
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About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.