| 02 October 2009

Charles Schwab (SCHW) topped this year's J.D. Power customer satisfaction survey among self-directed investors. Schwab scored a 796 out of a possible 1,000 and was given high marks for its account interaction and its Web site, in particular. Vanguard scored a 788 and Scottrade came in third with a score of 780.

“Price and trade execution are no longer strong differentiators among firms, as various institutions offer essentially free trades and investors have come to expect flawless trade execution," said David Lo, the Director of Investment Services at J.D. Power. "Providing compelling investment tools and information, as well as a superior interaction experience, is the best opportunity for firms to set themselves apart.”

The annual survey interviews 5,000 investors who make all of their investing decisions without the help of an adviser.

Banks and large, full-service brokerage firms consistently scored at the bottom of the rankings. Wells Fargo (WFC), Bank of America (BAC) and its subsidiary, Merill Lynch and Morgan Stanley's (MS) subsidiary Smith Barney all ranked at the bottom of the satisfaction index.

The survey uncovered a new trend emerging in the space: more tools and resources yields higher satisfaction. If investors took advantage of financial planning services, online stock tools and educational seminars or webcasts their average overall satisfaction rose to 836. This compares with an average satisfaction rating of 699 for investors who didn't use any additional resources.

Even if investor used just one of the three resources their satisfaction levels rose 62 points to 761, according to the study.

For the complete survey rankings, go here.