Bettinger on Schwab's Evolution And Important Industry Trends

By Douglas Heikkinen via

Walt Bettinger is celebrating his tenth anniversary as president and chief executive officer of Charles Schwab Corp. (SCHW). In his decade-plus at the helm of one of the largest U.S. brokerage firms, Bettinger steered Schwab through the financial crisis and oversaw the company’s expansion into wealth management and the exchange traded funds (ETFs) industry, among other achievements.

On Monday, Bettinger spoke at the Morningstar Investment Conference in Chicago, discussing a broad range of issues, including how advisors can deploy technology to improve the client experience, retirement income and the evolving fee landscape.

One of the issues Bettinger touched on is how advisors can keep up with and exceed clients’ expectations for superior customer service.

“The last great experience anywhere is minimum expectation for future experiences everywhere,” said Bettinger.

Investors also “increasingly realize that in a world with an instantaneous news cycle, consistent outperformance is exceptionally difficult (something out of their control), which is a good thing because it shifts the focus to areas within consumer’s control (fees, diversification, planning),” said the Schwab chief executive.

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