Charles Schwab 2010 Annual Report Download - page 6
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it easier than ever to reach a live representative — by
pushing a single button at the outset of the call, or by
simply asking for a live representative when the call
is answered. In addition, nearly 14 million calls were
handled efciently through our automated systems when
the client preferred this approach. We also engaged in
dialog on rapidly expanding social network websites,
such as Twitter, Facebook, and YouTube.
Client feedback is essential if we hope to see the
world through clients’ eyes. Last year, we continued
our Client Promoter Score (CPS) program in which we
survey clients and ask them to rate us, from 0 to 10,
on their willingness to recommend Schwab. The CPS
calculates the number of “promoters” minus the
number of “detractors” to arrive at a net indicator of
client loyalty. Our CPS for individual investors reached
a record 37 percent, with signicant gains for our
value proposition, investment help and guidance, and
customer service. CPS scores also remained strong
for independent investment advisors, who praised our
responsive service, and for retirement plan sponsors.
FOCUSING ON WHAT MATTERS
As we look ahead to 2011 and beyond, we believe our
strategy is working and our diversied business model is
sound. Most of all, we continue to see the world through
the eyes of our clients as we strive to help everyone be
nancially t.
Going forward, we will continue to focus on what matters
— and what drives stockholder value over the long term.
We will • scale our business to make nancial
services more accessible to all.
We will • innovate with new products and tools that
put nancial tness within reach for every investor.
We will • inform and empower investors, as
we believe that the best investor is a
knowledgeable one.
We will view our business and the decisions •
we make through clients’ eyes.
As the darkness of the last few years transitions to a
brighter day, I am grateful to our clients, stockholders,
and employees. To our clients, thank you for entrusting
us with your hard-earned dollars. To our stockholders,
thank you for investing in our unique approach to
nancial services. To our employees, thank you for your
hard work and passion for serving our clients.
Your support and condence in our company provides
the foundation for our success.
WALT BETTINGER
March 12, 2011
4 LETTER FROM THE CHIEF EXECUTIVE OFFICER