Charles Schwab-owned companies ranked #1 and #2
among DIY investors in the 2024 U.S. Self-Directed Investor
Satisfaction Study, reinforcing the combined firm’s strength and
leadership as it brings the best of Schwab and Ameritrade together
for clients.
Ameritrade, now part of Charles Schwab, ranked #1 and Schwab
ranked #2 among do-it-yourself investors nationwide in the J.D.
Power 2024 U.S. Self-Directed Investor Satisfaction Study.
Ameritrade’s performance in the study, the highest rank it has ever
received, reflects the strength of the core Ameritrade platform
combined with sustained investment Charles Schwab has made since
closing the acquisition in 2020 in client service and
relationships, reducing pricing, and launching a satisfaction
guarantee, similar to what Schwab introduced to clients in 2017.
Schwab’s ranking was driven by strong performance in areas
including resolving problems and its people, including financial
advisors and support staff.
“We’re delighted that both Schwab and Ameritrade clients are
incredibly satisfied with their experiences. Earning the top two
rankings in this year’s J.D. Power U.S. Self-Directed Investor
Satisfaction Study demonstrates our strength as a combined firm,”
said Jonathan Craig, Managing Director, Head of Investor Services
at Charles Schwab. “We’re confident that our approach will continue
to resonate as we finish bringing together the best of what both
these firms offer to investors, including industry-leading
solutions for self-directed investors, world-class trading and
education capabilities, breadth and depth of wealth management and
advisory services, and a deep commitment to client service and
relationships.”
Schwab has now transitioned approximately 90 percent of
Ameritrade client assets and will move the remaining client assets
to Schwab in May 2024, completing the largest integration of its
kind in industry history.
“We’ve just begun to unlock the power of what a combined Schwab
and Ameritrade can deliver to clients today and in the future,”
said Craig. “And while Schwab clients have benefited from the
addition of important Ameritrade features, most notably the
thinkorswim® trading platforms and enhancements to Schwab.com and
Schwab Mobile, we’re also already seeing strong momentum among
transitioned Ameritrade clients, who are actively engaging with
products and services now available to them at Schwab.”
Delivering the Best of Both Schwab and Ameritrade
As Schwab approaches the completion of the integration with
Ameritrade, the combined firm with more than $4 trillion in
Investor Services client assets and 25 million retail brokerage
accounts as of February 29, 2024, offers a powerful range of
products, services, and capabilities to serve a wide range of
investors, including:
- Schwab Trading Powered by Ameritrade™, a holistic offer for
traders with robust trading platforms including thinkorswim®,
Schwab.com and Schwab Mobile, educational content for a wide range
of investors and traders, and support from professional trading
specialists – all while delivering value and execution speed and
reliability.
- Services designed to make investing easier and more accessible
including Schwab Stock Slices®, Schwab Investing Themes™, and
Schwab Starter Kit®.
- A range of advice and wealth management solutions from
automated investing to dedicated advice, with approximately $580
billion receiving ongoing advisory services in Schwab Investor
Services through the end of 2023 and 100,000+ financial plans
provided on an annual basis.
- Industry-leading client service that enables clients to engage
with an investment professional anytime by phone or chat 24/7, in
addition to support from a range of specialists, as well as the
Schwab Satisfaction Guarantee, which states that if for any reason
a client is not completely satisfied, Schwab will refund any
eligible fees or commission*.
- A network of 400+ branches and financial consultants all over
the country to support investors and traders in their
communities.
“Schwab and Ameritrade’s performance in this year’s J.D. Power
Self-Directed Investor Satisfaction Study reinforces our leadership
in this space, and we’re in a strong position to continually raise
the bar on what it means to serve individual investors and traders
for years to come,” said Craig.
The official J.D. Power 2024 U.S. Self-Directed Investor
Satisfaction Study press release can be viewed here.
TD Ameritrade, Inc. ("Ameritrade"), Member SIPC, a subsidiary of
The Charles Schwab Corporation (“Charles Schwab”), received the
highest score in the do-it-yourself segment of the J.D. Power 2024
U.S. Self-Directed Investor Satisfaction Studies of investors’
satisfaction with self-directed investment firms. Visit
jdpower.com/awards for more details. The J.D. Power 2024 U.S.
Self-Directed Investor Satisfaction Study is independently
conducted, and the participating firms do not pay to participate.
Use of study results in promotional materials is subject to a
license fee.
Schwab received the second highest score in the do-it-yourself
segment of the J.D. Power 2024 U.S. Self-Directed Investor
Satisfaction Studies of investors’ satisfaction with self-directed
investment firms. Visit jdpower.com/awards for more details. The
J.D. Power 2024 U.S. Self-Directed Investor Satisfaction Study is
independently conducted, and the participating firms do not pay to
participate. Use of study results in promotional materials is
subject to a license fee.
J.D. Power 2024 U.S. Self-Directed Investor Satisfaction
Study Methodology
The U.S. Self-Directed Investor Satisfaction Study, now in its
22nd year, evaluates key satisfaction drivers and firm performance
among both investors seeking guidance (those who don’t have a
dedicated financial advisor but do have access to interact with a
registered investment professional) and true do-it-yourself
investors (those who do not interact with professional advisors).
The study measures self-directed investors’ satisfaction with their
investment firm based on performance in seven factors (in order of
importance): trust; digital channels; the ability to manage wealth
how and when I want; products and services; value for fees; people;
and problem resolution.
The study is based on responses from 9,875 investors who make
all their investment decisions without the counsel of a
full-service dedicated financial advisor. It was fielded from
January 2023 through January 2024.
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:
*Schwab Satisfaction Guarantee: If you are not completely
satisfied for any reason, at your request Charles Schwab & Co.,
Inc. ("Schwab"), Charles Schwab Bank, SSB ("Schwab Bank"), or
another Schwab affiliate, as applicable, will refund any eligible
fee related to your concern. Refund requests must be received
within 90 days of the date the fee was charged. Two kinds of "Fees"
are eligible for this guarantee: (1) "Program Fees" for the Schwab
Wealth Advisory ("SWA"), Schwab Managed Portfolios™ ("SMP"), Schwab
Intelligent Portfolios Premium® ("SIP Premium"), and Managed
Account Connection® ("Connection") investment advisory services
sponsored by Schwab (together, the "Participating Services"); and
(2) commissions and fees listed in the Charles Schwab Pricing Guide
for Individual Investors or the Charles Schwab Bank Pricing
Guide.
For more information about Program Fees, please see the
disclosure brochure for the Participating Service, made available
at enrollment or any time at your request. The Connection service
includes only accounts managed by Charles Schwab Investment
Management, Inc., an affiliate of Schwab. The guarantee does not
cover Program Fees for accounts managed by investment advisors who
are not affiliated with Schwab or managed by Schwab-affiliated
advisors outside of the SWA, SMP, SIP Premium, and Connection
services.
The guarantee is only available to current clients. Refunds will
only be applied to the account charged and will be credited within
approximately four weeks of a valid request. No other charges or
expenses, and no market losses will be refunded. Other restrictions
may apply. Schwab reserves the right to change or terminate the
guarantee at any time.
Investors should consider carefully information contained in
the prospectus or, if available, the summary prospectus, including
investment objectives, risks, charges, and expenses. You can view
and download a prospectus by visiting
https://www.schwabassetmanagement.com/prospectus. Please
read it carefully before investing.
You could lose money by investing in the Schwab Money Funds.
All Schwab Money Funds with the exception of Schwab Variable Share
Price Money Fund seek to preserve the value of your investment at
$1.00 per share, but cannot guarantee they will do so. Because the
share price of Schwab Variable Share Price Money Fund will
fluctuate, when you sell your shares they may be worth more or less
than what you originally paid for them. All Schwab Money Funds with
the exception of Schwab Government Money Fund, Schwab Retirement
Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab
Treasury Obligations Money Fund and Schwab Government Money Market
Portfolio may impose a fee upon the sale of your shares if the
Fund’s board determines that the fee is in the best interests of
the Fund. An investment in the Schwab Money Funds is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any
other government agency. The Schwab Money Funds' sponsor has no
legal obligation to provide financial support to the Funds, and you
should not expect that the sponsor will provide financial support
to the Funds at any time.
Schwab Asset Management® is the dba name for Charles Schwab
Investment Management, Inc., the investment adviser for Schwab
Funds. Schwab Funds are distributed by Charles Schwab & Co.,
Inc. (Schwab), Member SIPC. Schwab Asset Management and Charles
Schwab & Co., Inc., Member SIPC, are separate but affiliated
companies and subsidiaries of The Charles Schwab Corporation.
Charles Schwab & Co., Inc. ("Schwab") and TD Ameritrade,
Inc. (“Ameritrade”), members SIPC, are separate but affiliated
subsidiaries of The Charles Schwab Corporation.
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Hibah Shariff Charles Schwab 415-667-0507
Hibah.Shariff@schwab.com
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