As the SchwabLink introduced in 1991, an advisor could outsource all transaction, record keeping and statement preparation duties to Schwab's computerized system for a fee based on the number of transactions and the size of customer assets. With the launch of the web site in 1996, Schwab became a sophisticated financial service provider by the on-line tools and services. .
A positive aspect with Schwab's Website is that they provide a phone number right up-front for those that might need personal customer service. This is a big contrast to some online brokers that hide their customer support phone numbers deep inside their Websites. Schwab is known for its helpful and well-mannered support staff. With a Schwab account you also have access to Schwab's phone brokers for advice. Schwab's site also has some nice features including real-time quotes at the bottom of the screen, and your account balance is constantly updated. .
Charles Schwab Corporation's ability to successfully leverage IT and introduce innovations that have transformed the brokerage industry from the firm's early focus on providing investors low-cost execution services. Furthermore, they offered expanded brokerage services to select customers through multiple channels. Schwab purchased U.S. Trust (a New York-based money management firm that catered to the wealthiest Americans), and participated in the distribution of Initial Public Offerings through its partnership with Credit Suisse First Boston, J.P. Morgan and Hambrecht & Quist in 1997. In this case the authors also describe how Schwab faced the challenge of the Internet, launched a Web-trading service in March 1996 for e.Schwab customers and then extended the service to all customers beginning January 1998. Three aspects of Schwab's IT capability are described: the structure of the IT organization (called the Schwab IT Enterprise, or SITE), the partnership between SITE and Schwab's business units, and the company's IT infrastructure.
The Charles Schwab Mission/Purpose/Vision: Charles Schwab's mission is to provide customers with the most useful and ethical financial services in the world. They also focus on offering expert personalized advice that is not commission driven, a tremendous range of investment options, and the most ...
