Charles Schwab Ranks #1 in Large Plan Segment in J.D. Power U.S. Retirement Plan Participant Satisfaction Study for Third Yea...
June 24 2020 - 9:00AM
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.
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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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