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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