And finally, Schwab announced a “Satisfaction Guarantee” program where if a client isn’t satisfied for any reason, Schwab will refund any related commission, transaction fee or advisory program fee paid to the firm.
According to disclosures in the fine print, two kinds of fees are eligible for this guarantee. The first pertains to asset-based “program fees” for the Schwab Private Client, Schwab Managed Portfolios, Schwab Intelligent Advisory and Managed Account Connection investment advisory services sponsored by Schwab. The second covers commissions and fees listed in the Charles Schwab pricing guide for individual investors, or “account fees.”
Program fee refund requests must be received no later than the next calendar quarter after the fee was charged. Account fee refund requests must be received within one year of the date that the fee was charged.