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Non-Tech : Complaints About Schwab
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To: Greg Jung who wrote (175)3/15/2000 4:04:00 AM
From: Mark Z   of 196
 
Greg -

As an example, last autumn right after they put up the new interface, there were some problems specifically related to the use of IE. I spent a lot of time w/tech support letting them use me to 'test' yet all the time they would not admit any problem on their end. There were several notes in the other Schwab thread on SI (I think its just called 'eSchwab') and the tech managers - I was fortunate enough to get past reps - while not directly admitting any problem on their end were certainly behaving as if they were well aware the problem was indeed theirs. I changed nothing on my computer (didn't reinstall IE) and voila! all of a sudden everything worked fine...and the complaints stopped appearing on SI. Yet through it all, Schwab could not see fit to directly admit that they could possibly have had a problem on their end.

Its just part of their electronic brokerage culture. They're incredibly vain and the closest they'll come to admitting anything is to point a finger at a vendor - a vendor that they chose (quotes, clear bugs in the research portion of the website, etc.). Prior to the advent of electronic brokerage, Schwab's customer service was superior and, for the most part, the brokers still provide service a cut above (the brokers can't help it if management has decided to let the brokers:client ratio decline leading to lengthier hold times on the phone). But the EB's service levels just don't match historical Schwab standards and the impression they give is that they just don't care to improve. And at that I wouldn't mind it but I can't justify paying Schwab's high commissions for an 'its no better anywhere else' attitude.
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