I cannot tell you how much I hate Schwab the pain they cause me , the money they've lost me , the general incompetence. It all adds up to make Schwab for me one of the most hated companies in the world and I will do everything within my power to make it know and bring this institution down. Hate hate hate
Schwab Private Client is a big joke
I joined Private Client in August of 2013 and just ended the relationship two weeks ago. Although I have no complaints with customer service, if I had followed Schwab's free portfolio recommendations, I would be $75K (5.8%) better off than allowing my portfolio manager to handle my account. Of course I had to approve all the purchases and sales and even when I brought up objections I was assured that the fundamentals of the purchases were sound. That includes the Asian purchases which occurred 4 days before the market fell out of the Chinese markets. Other reviews that I've read have it exactly right - they make the decisions, but you're responsible for their incompetence.
Charles Schwab is a rapidly growing financial company
Charles Schwab is a rapidly growing financial services company and is backed by the global growth investor General Atlantic. it is a dynamic, growth oriented firm with an award-winning platform, first class service, and educational resources.
Schwab works for us.
There are so many online helps with Charles Schwab, it's hard to know where to start. Indeed, it can be a bit overwhelming. However, so much information makes it easy to really get a great idea of how well a fund or stock would work for us. Also, their retirement planning guide helps me decide what to invest in. The account balances are always accurate, and the reports feature (while sometimes cumbersome to get to) do give me comprehensive information.
Everyone who I ever talk to are super friendly - and indeed go OUT OF THEIR WAY to help me out! I feel special to them, even though I may not be investing much that day.
There are so many different options to pick from, it can make my head spin. However, that's a good thing. I hate being limited.
Ease of Use
The web site can be a pain to navigate sometimes, but I do get all the information I need. The only time this really bothers me is the end-of-year reports for the IRS. However, I can get history and quotes anytime.
Charles Schwab is Ready to Help You Invest
Trading stock and purchasing other investments is easy now that we have the internet. What used to take a phone call, consultation, and high fee is now executed in seconds for a very low cost. One of the many different brokerage services with an online presence is Charles Schwab.
Online Brokerage Facts and Commentary:
Charles Schwab is a well- known brokerage service with a history that predates the internet by many years. However, the internet presence is the one for which most investors are aware. Charles Schwab's online service has helped many investors search for the right investment and better manage their portfolios for the best long term financial strategy.
Charles Schwab offers some very useful tools that help investors find the common stock that is right for them. Entering a few pieces of criteria is all it takes to narrow down the long list of equities to those that fit investment objectives. These online tools are very handy and they make it fast and simple to find what you want.
Charles Schwab offers very inexpensive fees for buying or selling securities and it has offices across the country for personalized service. A banking and lending center and investment education center help investors stay informed and offer some good guidance for personal financial health. Other services are available as well, but they do carry higher fees that could diminish potential overall returns.
Bottom Line Viewpoint:
Online brokerage accounts are a good way to invest and Charles Schwab is one of several good options available to the internet investor. The service is a very good one for the self- directed investor who is familiar with investments and how they work. It has the tools you need to make your next stock purchase you greatest winner to date.
Customer service is ready to help, but be prepared for possible fees, depending on the issue.
The investment options are very good and varied.
Ease of Use
This web service is intuitive enough that most anyone can pick up on the way it works and learn to navigate without any outside assistance.
lost money and hide on money market funds. No help
lost money on promised safe money mar ket fund. Tried to hide that fact . MaKes it very hard to go t o arbritration with them. You can not talk to management . The t alk to Chuck is a fake. The local offices and their people are terrible. The off site brokers are better and the electronic syst ems are goood.
Schwab is an OK bank if you want to have a savings or checking account, but don't waste your money on becoming a "Private Client". They provide weak advise and demonstrate lack of accountability. Be warned - stay away from their paid services.
Easy to use, excellent Customer Service
I have been using Charles Schwab online and in person for about 10 years. I have had excellent customer service on the phone when needed. Their bond people are extremely helpful. Their trade fees, while not that high, can add up. Overall, I am very satisfied with this online broker.
401K rollover completely mismanaged
Charles Schwab completely mismanaged my 401K rollover resulting in a loss of thousands of dollars. Once the account was fully setup, verified and funds transfered - they let me know that not all of my elections would rollover into the same funds. The portion that wouldn't rollover, due to them not carrying those funds, would result in their having to work directly with me to ensure proper assignments and allocations. Great... we were all onboard!
Instead, once my funds were transferred, Charles Schwab locked me out of my account and refused to give me access for "security reasons". They said that my address didn't match-up in their system or something. However, they had no problem taking my money and sending my entire financial statement to the address in question... funny for a "security issue".
I then had to jump through hoops taking an over-the-phone exam to prove I was who I said. Fine, I get it, they're trying to protect themselves (not so much their clients and I'll illustrate shortly), but this is costing me thousands. Apparently the "exam" was timed, and half way through it **THEIR **customer service representitive got disconnected from me. I was on a land line... this is not a cell phone dropped-call situation. Instead of simply calling me back (or ever calling me to verify the address change), I had to jump through hoops again explaining what happened. They now said I failed their "exam" due to a "timeout" and that I'd need to go to an actual location with IDs and confirm I am who I say I am. This has cost me thousands in lost revenue, and tens of thousands in opportunity costs.
I would never recommend this company. They are not customer friendly even if you have a LOT of money.
The sections/people to look out for are: CRVC, Elizabeth Tanner (terrible), and Christina Sundell
Schwab cares about Schwab - not you.
I have had a Schwab account since 1987. Somehwre along the way their corporate policy has become "protect tyhe ass of Charles Schwab above all else." From freezing my account while I was overseas without so much as a courtesy call to being absolutely incompentant to wire transfer funds if you want a full service brokerage / bank go elswhere.