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

Thursday, May 30, 2019 6:00 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"The study affirms our focus on these key areas that we believe can truly make a difference in helping to drive improved retirement outcomes."

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

With an overall satisfaction score of 821 on a 1000-point scale, Schwab scored 10 points higher than the nearest competitor and 48 points higher than the industry average in the large plan segment. Schwab also received the highest score in five of the six factors included in the overall satisfaction score:

  • Communications
  • Plan features
  • Investment and service offerings
  • Information resources
  • Interaction

In addition, Schwab earned the highest rating in three of the six key brand image categories, including:

  • Customer-driven
  • Good reputation
  • Financially stable

“Earning this top ranking two years in a row demonstrates the strength of our 'through clients’ eyes' approach to service. Our ongoing investments in financial wellness, personalized 401(k) advice resources and the overall user experience are hitting the mark for participants and resonating with plan sponsors as well,” said Steve Anderson, president, Schwab Retirement Plan Services. “The study affirms our focus on these key areas that we believe can truly make a difference in helping to drive improved retirement outcomes.”

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

Charles Schwab received the highest numerical score in the Large Plan segment in the J.D. Power 2018-2019 US Retirement Plan Participant Studies of plan holders’ satisfaction with their group retirement firm. The study was based on 8,332 responses from group retirement plan participants surveyed in February 2019 and March 2019. Your experiences may vary. Visit jdpower.com/awards.

Retirement plan investment advice is formulated and provided by an independent third-party advisor, which is not affiliated with or an agent of Schwab Retirement Plan Services, Inc. (SRPS); or any of its affiliates. Plan sponsors must elect to make the retirement plan investment advice service available for their plan. The term "personalized advice" refers to personal participant data such as age, salary, and plan account balance, which will form the basis by which the independent third-party advisor will establish the participant’s investment strategy.

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; Charles Schwab & Co., Inc.; and Schwab Retirement Plan Services, Inc. Trust, custody, and deposit products and services are available through Charles Schwab Bank. 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 (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

©2019 Schwab Retirement Plan Services, Inc. All rights reserved.

(0519-9W7D)

Contact:

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

Mike Gelormino
Intermarket Communications
212-909-4780
mgelormino@intermarket.com

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