Why is customer service so bad at most brokers?

[R1234]

Odd, I have nothing bad to say about customer service at either Schwab or Fidelity. Somebody knowledgeable is always there within no time. And if they do not know an answer they ask around and get back to me pretty fast. Maybe they keep an eye on trading volume and how much PFOF you're generating for them?

 

[Robert Morse]

I provide the same attention to a $10,000 CASH account as a $10mm HF. I never ignore customers because they are small. Same for our trade desk and other services at Lightspeed.

yes it does. And your account isn't big enough.

 

[murray t turtle]

Give Schwab the 3 days to get it right. HUGE amount of accounts they have to integrate into their system. They had to do it sometime...I am sure they are working around the clock on this issue. They want to get it right...

Disclosure...Schwab stock holder here.

When I first saw that Schwab was buying TDA, my first thought was "how are they going to integrate TOS". You can't flip a switch. A lot of bugs to work out, to get it on the Schwab platform...

You may not like the exit fees you would have to deal with. Give it some time...Reflect in a week or two.

%%
SCHW has given me excellent service for many years; but i noticed customer service is not much @ most businesses, even though V has excellance. And live English speaking human is expensive usually............................
But Verizon was so high$$ after a year , so switched to Pure Talk.
I did have big delayed goof when SCHW found an old TD account with about $20 bucks in it; intraday log in scary nightmare , but by end of day or earlier , fixed it.
IBKR was never known for phone customer service;
but they usually fixed any problem before a phone rep answered .
BUT HOOD did not even get rated by IBD for brokerges LOL;
SCHW + Fidelity were top 2\IBKR last in IBD extensive customer service ratings ........................................

 

[BAT31]

I also noticed AMP's service quality has been deteriorated significantly recently. A bad sign..... Anyway, I am moving to Advantage so I don't care.

I was with Advantage briefly. Excellent customer service when I used their services in 2021.

 

[newwurldmn]

I provide the same attention to a $10,000 CASH account as a $10mm HF. I never ignore customers because they are small. Same for our trade desk and other services at Lightspeed.

I completely believe that.

 

[Cabin1111]

Schwab is now on day four, and I'm not wasting my time with them anymore. (And I have half a mil there! Imagine what they do to small fry.)

About this issue...Think or swim!!

 

[hilmy83]

I also noticed AMP's service quality has been deteriorated significantly recently. A bad sign..... Anyway, I am moving to Advantage so I don't care.

I always like their customer service; short and to the point.

Don't ask about platform issues though, go straight to the source for that.

 

[SoCalOptionsWriter]

Think there is a book to be done called The Shittification of America? Former journalist here.

 

[rb7]

Had a rep at Merrill who did not know the difference between portfolio margin and Reg-T. IB is a thread jungle online and impossible to reach by phone. Schwab has disabled one of my accounts for three days now because of a switch to TOS, promises to have it up every day by phone and then never gets back to me. I could go on.

Is there anyone out there that is fast, knowledgeable, competent, and doesn't rip me on commissions? Just stock and options. I assume no one offers great customer service plus futures and FX.

Maybe you should ask yourself why you need to reach to the customer service so often?

I don't remember the last time I had to contact my broker customer service, and I'm day trading.

 

[Big AAPL]

Me Either