Charles Schwab Ranks Highest in Customer Satisfaction Besting Other Large U.S. Online Brokerages

Monday, March 14, 2011 8:00 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"Receiving the highest ranking in the American Customer Satisfaction Index is a wonderful validation of the effort and focus we place on providing exceptional value and service"

SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab earned the highest customer satisfaction score in an independent survey conducted by the American Customer Satisfaction Index (ACSI), surpassing Fidelity, TD Ameritrade and E*Trade. In the fourth quarter of 2010, the ACSI surveyed online brokerage customers about the quality of products and services available to household consumers in the United States.

“Receiving the highest ranking in the American Customer Satisfaction Index is a wonderful validation of the effort and focus we place on providing exceptional value and service,” said Ben Brigeman, executive vice president, Schwab’s Investor Services. “For nearly 40 years, through markets of all kinds, we’ve strived to be a source of guidance for our clients to help them achieve their financial goals. In the past year, we’ve invested in new money management solutions, new reporting tools, new technology, and new educational opportunities, and we’re really pleased that our clients have responded so positively.”

“It’s the people at Schwab who really make the difference,” continued Brigeman. “Last year alone, Schwab branch employees had more than 600,000 personal interactions with our clients. Our dedication to building strong relationships, which is made possible through the hard work of our financial consultants, client-facing teams, and people behind the scenes, is what truly sets us apart.”

Among online brokerages, Charles Schwab had a score of 80, with Fidelity scoring a 79, TD Ameritrade at 77 and E*Trade at 76, with an industry mean of 78.

The official ACSI press release can be viewed at www.theacsi.org/index.php?option=com_content&task=view&id=240&Itemid=263.

About American Customer Satisfaction Index

The American Customer Satisfaction Index is a national economic indicator of customer evaluations of the quality of products and services available to household consumers in the United States. ACSI releases results for various sectors of the economy on a monthly basis to provide up-to-the-moment coverage over the entire calendar year. The national index is updated each quarter and factors in scores from more than 225 companies in 45 industries and from government agencies over the previous four quarters. The Index was founded at the University of Michigan’s Ross School of Business and is produced by ACSI LLC. ACSI can be found on the Web at www.theacsi.org.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services with more than 300 offices and 8.0 million client brokerage accounts, 1.5 million corporate retirement plan participants, 701,000 banking accounts, and $1.6 trillion in client assets. 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, earning the highest customer satisfaction score of the four major U.S. online brokerages in a fourth quarter 2010 survey conducted by the American Customer Satisfaction Index. 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 Schwab Advisor Services. 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. (0311-1915)

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Contact:

Charles Schwab
Alison Wertheim, 415-667-0475
Alison.Wertheim@schwab.com
or
Edelman
Pablo Rodriguez, 415-486-3267
Pablo.Rodriguez@edelman.com

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