Charles R. Schwab founded an investment newsletter named Investment Indicator in 1963 and the firm incorporated in 1971 as First Commander Corporation, a wholly-owned subsidiary of Commander Industries..
In 1972 Schwab bought out all the common stock of Commander Industries and changed the name of the company to Charles Schwab & Co., Inc.
Today the company is a broker that offers traditional brokerage services as well as financial research, advice, planning, investment management, retirement, and employee compensation plans.
Charles Schwab manages $2.3 trillion in assets for 10.5 million individual investors and institutional clients.
The company trades publicly on the New York Stock Exchange under the ticker symbol SCHW, is a member of the S&P 500, is #459 in the Fortune 500, has 16,200 employees and had $7.478 billion in revenue in 2016.
The Charles Schwab CorporationCharles R. Schwab founded an investment newsletter named Investment Indicator in 1963 and the firm incorporated in 1971 as First Commander Corporation, a wholly-owned subsidiary of Commander Industries..
In 1972 Schwab bought out all the common stock of Commander Industries and changed the name of the company to Charles Schwab & Co., Inc.
Today the company is a broker that offers traditional brokerage services as well as financial research, advice, planning, investment management, retirement, and employee compensation plans.
History
Charles Schwab manages $2.3 trillion in assets for 10.5 million individual investors and institutional clients.
The company trades publicly on the New York Stock Exchange under the ticker symbol SCHW, is a member of the S&P 500, is #459 in the Fortune 500, has 16,200 employees and had $7.478 billion in revenue in 2016.
Human Resources:
I have low technological skills and Nick LaCroix in Customer Service pleasantly and patiently was able to help me navigate Schwab’s website.
Nick was very gracious, patient, encouraging… and funny.
His customer service techniques are rare in that he exudes a caring personality.
I applaud Nick LaCroix’s professionalism.
He is a wonderful ambassador for your company.
He’s a “keeper”
thank you
Mr. Schwab,
I have a legitimate options equity trade dispute that I lodged today in my brokerage account .
Your staff was less than helpful and very uninformative. I had to insist to escalate my complaint and received push back. When I insisted to file a formal trade dispute I was told the agent would do so but could not supply a reference number. He said someone would reach out in a few days.
Your company has always portrayed itself as customer centered with superior service. I found none of this to be true.
I respectfully request a formal trade dispute and to hear from someone within 24 hours.
Thank you,
Michael LaVoie
In Jan. 2018 my husband, Richard William LeVine passed away. we were referred to the Estate Department to handle his 3 accounts. A difficult time to be filling out important papers. Our 2 sons, filled out identical paper work. On pg.5. there are #8 A & B. by mistake they checked a box under A and 2 boxes under B. Until they recently received their 1099-R forms and noticed a EXTREMLY large difference in the amounts, Why didn’t the Estate Department care enough or take time time to notify them of the error and get it corrected. They are suppose to be helping us through this crucial time in our lives. Now one in faced with a very large tax burden and one just a small amount. We have been clients since the 1990’s but will move our accounts shortly.
I was a former Options Express client, account # 61393245, which was taken over by Charles Schwab. Options Express submitted a 1099R to the IRS showing we had taken a substantial distribution, which is totally incorrect. Now the IRS has sent me a letter claiming I didn’t claim this as income and now owe taxes on it. I have talked to several people with Schwab and asked for a copy of the check that was issued in order to see who’s name it was made out too, who endorsed it and where it was deposited because we DID NOT get the check. Why can’t any Schwab employee be able to pull a copy of that check and get that information? What is wrong with you people? Why can’t you help a person when they need it, especially with the IRS breathing down my back??? I’m glad I’m not part of Schwab now. I’m with ETrade who took over Options House!
Does Schwab Corp Offices actually exist!!
It is impossible to reach anyone there
An 11+ MILLION dollar error has occurred on my
Statement for Dec 2017 and this has been going
on for 3 months and no one has corrected this
Where is compliance? Where is Corporate?
They do NOT answer.
Where is Walter Bettinger. Does he have an office?
Disgraceful!!!
We have updated the phone number on the site. Thanks for letting us know it was out of date.
One of the most unprofessional corporations I have dealt with in a very long time. I got WRONG information from their international desk and they make it sound like it’s no big deal. Cost me thousands….Good luck with these people.
On Monday, 11/06/2017, I attempted to sell a PUT on INTC. The order was placed at market; was displayed on the orders page and seemed to be accepted, but would not go. I cancelled and resubmitted two more times with the same result.
I called Schwab for assistance. I manage six accounts and had singed in with a strong password, and subsequently provided my account No., my full name, my date of birth, my Social Security No. and my mother’s maiden name. Explained my problem and asked, why the order would not go? The Schwab agent then asked for my verbal password. I said that I didn’t think I had a verbal password or I had no clue what it might be. We then entered into a onerous discussion about the verbal password while the value of the PUT diminished. I told the agent I have provided by complete profile, I am in the account, etc., just tell me what is the problem with the order? He had told me several times that the he Can’t do it without the verbal password. I asked to speak with a supervisor and then went through the same ordeal regarding the verbal password and the I can’t routine, until I hung-up in disgust.
Please keep in mind that I was not asking for any account or secured information, just tell me why the order will not go! No matter how upset that I became or how much the market changed, or threats to change brokers or anything else that I said, would alter the Can’t situation. I later figured out that I had entered more contracts than were cash supported in that particular account. Stupid? Yes, but HERE IS MY POINT! During all of the years that I have been with Schwab, the thousand of trades made ( I am an Active Trader), and numerous contacts with Schwab agents, I have never provided a “Verbal Password ” because I don’t know it, don’t want it. A simple check of the order that I was placing would have corrected the confusion on my part.
Either Schwab’s Training or Rules of use, or both has made Internet Bots out of your assisting agents. Terrible Policy.
I have enjoyed Schwab’s trading platforms, the assistance provided up until now, and I have made us both proportionate amounts of money, but anymore encounters with agents who can not be rational about this Verbal Password, is going to be too much.
I have never had so much trouble with a company then I have had with Charles schwab, I have a certificate of stock that is traded on the Thailand stock exchange that I am trying to get into my schwab account, this has been going on for two months now and still today I haven’t been able to have anyone at schwab help me with this. I have several calls into global in phonix az, I talked with a Elaine, rick, sloman, and a couple more people at global office, I have even had slaman tell me I should take my business to another brokage firm, I have called ever phone number that I can find on the internet to get someone to help but with no luck.
I am the Trustee for an estate with Schwab accounts. Forms you supplied were mailed 9/25/17 and confirmed received. Am still waiting to gain access to the checking account. There have been at least two typographical errors made in your offices–one my street address and other my birth day. I’ve made many phone calls, and went in person to a local office. The response always is either “2 to 5 business days”, or “24 to 48 hours”–then I’ll have access. Tomorrow, 10/20/17 at 4 PM will be the latest “48 hours”–still no access today. The money is needed to pay the bills of the deceased! Apparently there is not a person in your staff that follows up on calls and/or reports of problems and errors. Lousy service!!!
No attention, no contact, not staying on top of what is happening market wise with regards to our portfolio. Contact is on maternity leave, assistant is on vacation and there is NO ONE THERE with experience to speak with.
Leaving us HIGH AND DRY. We are looking for another company RIGHT NOW!
Kenneth DeGenova. Not happy with NO SERVICE! Not happy with the performance of what we were placed into. Right now we should have been riding the wave big time! WE ARE NOT! Instead we are invited to group movies and parties. Its not what I signed over our assets to you for. We are looking for performance not GET TOGETHERS . YOUR COMPANY NEEDS TO GET IT TOGETHER!
I have been a client of yours since 1992 and recently, I find your services not up to par.
I dread having to call 800-435-4000 because I’m usually on hold for 10-15 minutes. But, more importantly, your lack of providing timely news on your site has cost me money on 2 equities the past month and if it happens again, I will seriously consider leaving Schwab. I have my grandchildren’s UFLUTMA with you and had my daughter open her account with you.
On 7/28 I owned 2100 shares of MO and that morning the shares began dropping in a freefall. Schwab had no news to report. The stock then came back a little but then dropped further. I called again approx. 10am but you still had no news. The volume was through the roof so obviously word was out. I seem to recall that Schwab posted news about 10.40am and they toldme that they get their news from Reuters and that’s when Reuters reported the FDA lowering nicotine in tobacco products. To have to wait over 1 hour to get news cost me money because I would have sold my shares earlier and reduced my loss. The same thing happened today on PETS. I purchased it in the morning and it began going down with extremely high volume. Schwab had no news until 1.37pm! Again, the word was out as volume was over 10 times the norm and I would have sold earlier to reduce my loss.
Don’t you think someone should look into why Schwab is falling down on the job by not getting sufficient information to it’s clients in a timely manner?
Robert Berg
561-733-9XXXXX
I have all of my personal accounts and my family accounts with Schwab. I also have a significant say with where my 50 man group keeps its 401K, which is one of the reasons that the group recently moved to Schwab.
I have been in contact with Schwab at least 3 or more times now in the last number of months regarding REAL TIME errors in the stock market data and quotes that they are providing to their customers. For example, at this moment my Schwab portfolio is showing ARI down 0.36 cents for the day when in fact it is up 0.10 cents on the day.
This is actionable information that may be affecting hundreds of clients. And yet, despite multiple promises and reassurances, Schwab has yet to get back to me with any kind of response or solution. On a corporate level I find this mind boggling due to the devastating nature of making such a mistake in the financial market place.
The lack of response on the part of Schwab has turned me from a loyal customer to someone who is seriously considering moving my accounts elsewhere. A problem of this nature is of such magnitude that for it to go on unresolved and, worse, unresponded to is truly unacceptable. I am going public with my concern only as a last resort.
I sincerely hope that this email generates the reaction and the response that it deserves.
Re: Small business 401 K plan experience
We have had individual accounts with Charles Schwab for about 20 yrs with very positive interactions. When federal changes came to our employee’s 401K plans 2yrs ago with Transamerica and Edward Jones, we received mixed information including the need to re-administer their accounts. My husband Robert Craven and I then decided to move our employee’s accounts all to Charles Schwab. We told the employees we had always received helpful service. This has not been the case at all.
We have been sent wrong forms, had to fill out applications two to three times – because they were lost! – these doXXXXents had sensitive information on them which our staff was concerned about. I have faxed or mailed requests to correct multiple situations up to 6 times with no results or mixed responses – such as now I have the wrong location, they never received the previous letter/fax, etc. etc. Currently our TPA cannot access the reports we have requested for him after multiple phone calls, faxes and letters. He needs these doXXXXents to complete our 2016 reports. Some of these doXXXXents we have requested since the end of first quarter of 2016. I just sent another fax trying to authorize his access to these doXXXXents. I have tried customer service, – but never get the same person twice – and every time the information has been different. No one calls me back or helps me follow up – except one person who then dropped off. I regret transferring our employees at this point as I have wasted alot of time and I no longer can assure the employees this was a good decision.
My immediate concern is getting the 401K investment statements for 2016 to Bruce Marrotta at bmarotta at aliactuary.com who is listed as our TPA on our accounts.
I also would like a solution to these other concerns.
You can reach me at 360 477 XXXXX – which is my cell.
Kathleen Craven and Robert Craven
If the above comments are true, then, these customers should check the Internet for ‘How to file a Bank Financial Institution Complaint. Federal Reserve Consumer Help; PO BOX 1200, Minneapolis, MN 55480;
and contact, Office of the Comptroller of the Currency; Customer Assistance Group; 1301 McKinney Street, Suite 3450, Houston, TX 77010-9050. Filing a complaint with the District Attorney’s Office in your state and in the state of the Home Office of any institution who does not exhibit “due diligence, Tort; or depraved indifference”