Schwab Retirement Plan Services Earns Top Marks for Client Loyalty and Satisfaction in Independent Survey

Employers and employees rank Schwab #1 in Boston Research Group 401(k) Survey

Wednesday, June 20, 2012 5:30 am PDT



Public Company Information:

"Schwab is committed to building strong relationships with employers who choose us to service their 401(k) plan, and to delivering an excellent experience to their employees"

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Retirement Plan Services has been named the top 401(k) provider in the categories of loyalty and overall satisfaction in a survey by Boston Research Group, affirming its standing as a leading provider of 401(k) plan services.

Loyalty Rankings

Schwab, which serves plans with 1.5 million corporate retirement plan participants, received its number one ranking in loyalty by both employers sponsoring 401(k) plans and their employees. Among employers, Schwab scored 86 percent compared to the industry average of 75 percent. Employers measured loyalty against three key drivers: easy to do business with, resources to offer the best plan and partners effectively.

The loyalty gap between Schwab and its competitors was even wider among plan participants. Two-thirds (66%) of respondents said they would leave their money in the current plan with Schwab or rollover to a Charles Schwab & Co., Inc. IRA if they left the plan today, compared to an industry average of just 51 percent.

High Satisfaction Marks from Plan Participants

In the area of overall satisfaction, Schwab was given the highest mark of any provider by plan participants – 46 percent, ten points above the industry norm. Schwab’s score rose four percent in 2011 over its industry-leading mark in 2010. The factors that drove overall satisfaction with employees in plans serviced by Schwab include its investment experience and the participants’ experience when they engage with Schwab.

“Schwab is committed to building strong relationships with employers who choose us to service their 401(k) plan, and to delivering an excellent experience to their employees,” said Steve Anderson, head of retirement plan services at Schwab. “The Boston Research Group study findings are an affirmation that our efforts are being recognized among the people whose opinions we value most—our clients.”

“Charles Schwab continues to be a leader in the retirement plan industry in the view of both employers and their employees,” said Warren Cormier, president of Boston Research Group. “We commend Schwab for engendering a very high level of loyalty and satisfaction among both groups.”

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.7 million active brokerage accounts, 1.5 million corporate retirement plan participants, 815,000 banking accounts, and $1.76 trillion in client assets as of May 31, 2012. 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,, 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. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides trust and custody services, banking and mortgage services and products. Investment products offered by Charles Schwab & Co., Inc. are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, and are subject to investment risk, including the possible loss of principal invested. More information is available at and (0612-4160)

Schwab Retirement Plan Services (“Schwab”) is comprised of Schwab Retirement Plan Services, Inc. and Schwab Retirement Plan Services Company, which provide recordkeeping and related services with respect to retirement plans. Schwab Retirement Plan Services, Inc., Schwab Retirement Plan Services Company, Charles Schwab Bank, and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products and services are offered by Charles Schwab & Co., Inc. Trust and custody services are provided by Charles Schwab Bank.

About the Boston Research Group DCP Study

Published annually since 2000, the Boston Research Group's Defined Contribution Plan (DCP) Study profiles and compares 401(k) recordkeepers based on a wide range of issues related to 401(k) products and services. Schwab participates in the study for retirement plans with assets over $5 million. Data were collected April through July 2011.

About Boston Research Group

Boston Research Group specializes in providing research services to firms involved in high technology, consumer technology, financial services, insurance and health care. Boston Research Group was founded in 1987, and is a Massachusetts corporation. For more information, visit

Boston Research Group is not affiliated with The Charles Schwab Corporation or any of its subsidiaries.


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