Schwab Service

Based on the consistency of my experiences contacting Schwab, I am going to be careful not to rip the employees and instead ask what is going on with the lack of training and empowerment in your associates?

No matter the simplicity of the task, the associates that answer the phone act as if they are simply an old time operator. Received a message yesterday evening that I would need to call any time 24/7 and that anyone could help link the new Custodial Roth to my main login.

We got to this place as almost two weeks ago I sent on the typed .pdfs to open the account, because the Schwab system does not allow self serve. It took 3 days for an associate to respond that they had sent the paperwork to the account opening specialist. Another two full business days to receive a message that I omitted an answer to one of the questions. I quickly corrected and sent the message immediately back. Two days later I asked for an update and a day after that got a message stating the right person is taking care of it.

Last night, I got a message that there was a slight mismatch and I could call at any time and speak to anyone and then it would be good to go. Well I did and the associate said its real hard to see what doesn't match and the easiest way was far me to start over and just open a new account. I then explained to him that Schwab does not allow that and at first he acted like I was a dummy. After realizing that wasnt possible, he said I needed to call back Monday and speak with an account specialist and they would fox me right up. I pushed back and said lets just pull them up side by side and go from there. He said he couldn't do that. I then asked for the separate login then and he said he couldn't do that either.

So Monday it is. Here is the thing. The service is slow, layered and lacking any king of generalization. I know what I am speaking of in terms of knowing what first level support should be able to handle vs specialists as I was responsible for several areas at a very large brokerage for 25 years, until four years ago. Said more concisely, when I call I typically need them to push a buttong we dont have access to on the customer side and every time the simplest request is elongated and they play hot potato.

Come on Schwab. You are paying these folks to represent you. Train them, empower, and hold accountable. Seems like Schwab is going the way of so many others that doesnt seem to realize its cheaper to keep a customer than to aquire a new one. As it is, O have lost confidence and am looking for a new home. 2 million is nothing to them, but a whole bunch of disgruntled 2,000,000 losses add up quickly

Do better