Charles Schwab Ranks #1 in Large Plan Segment in J.D. Power U.S. Retirement Plan Participant Satisfaction Study for Third Year in a Row

Wednesday, June 24, 2020 6:00 am PDT

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SAN FRANCISCO

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NYSE:
SCHW
"Earning this top ranking in the large plan segment three years running, plus our second-place ranking in the medium plan segment, demonstrates the ongoing value of our ‘through clients’ eyes’ approach to serving plan participants"

SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab has earned the highest ranking in a tie in overall satisfaction in the J.D. Power 2020 U.S. Retirement Plan Participant Satisfaction Study in the large plan segment. Charles Schwab also ranked highest in the large plan segment in the J.D. Power 2019 U.S. Retirement Plan Participant Satisfaction Study and the J.D. Power 2018 U.S. Group Retirement Satisfaction Study.

“Earning this top ranking in the large plan segment three years running, plus our second-place ranking in the medium plan segment, demonstrates the ongoing value of our ‘through clients’ eyes’ approach to serving plan participants,” said Catherine Golladay, president, Schwab Retirement Plan Services. “This year’s rankings are especially meaningful knowing J.D. Power conducted the survey in late February and March, when market volatility was at its peak and the nation faced so much uncertainty. I’m so proud of our service professionals, who were there for participants when they needed us the most.”

Large Plan Segment

With an overall satisfaction score of 801 on a 1000-point scale, Charles Schwab had the highest score in a tie, and scored 36 points higher than the segment average, in the large plan segment (plans with more than $500 million in assets). Charles Schwab also received the highest score in three of six factors included in the overall satisfaction score:

  • Investment and service offerings
  • Fees and expenses
  • Information resources

Medium Plan Segment

Charles Schwab ranked second in the medium plan segment in this year’s study (plans with $5 million to $500 million in assets). With an overall satisfaction score of 825 on a 1000-point scale, Charles Schwab scored 55 points higher than the segment average and just two points lower than the top-ranked provider. Charles Schwab also received the highest score in three of six factors included in the overall satisfaction score:

  • Interaction
  • Investment and service offerings
  • Plan features (tied)

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

Disclosures

Outcomes are not guaranteed.

Charles Schwab received the highest numerical score in the Large Plan segment in the J.D. Power 2018-2019 and tied in 2020 U.S. Retirement Plan Participant Satisfaction Studies of participants’ satisfaction with their retirement plan provider. The 2020 study was based on 10,159 responses from retirement plan participants surveyed in February and March 2020. Your experiences may vary. Visit jdpower.com/awards.

The Charles Schwab Corporation (Charles Schwab) provides services to retirement and other benefit plans and participants through its separate but affiliated companies and subsidiaries: Charles Schwab Bank, SSB; Charles Schwab Trust Bank; Charles Schwab & Co., Inc.; and Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are available through Charles Schwab Bank, SSB and Charles Schwab Trust Bank, Members of FDIC. Schwab Retirement Plan Services, Inc. is not a fiduciary to retirement plans or participants and only provides recordkeeping and related services.

Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) 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; compliance and trade monitoring solutions; 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, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

Brokerage Products: Not FDIC Insured · No Bank Guarantee · May Lose Value

©2020 Schwab Retirement Plan Services, Inc. All rights reserved.

(0620-06BW)

Contact:

Mike Peterson
Charles Schwab
330-908-4334
mike.peterson@schwab.com

Travis Fishstein
The Neibart Group
718-801-8205
schwabrps@neibartgroup.com

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