McCool is responsible for the spectrum of retirement services that Schwab provides either directly to corporations or through third party administrators, from employer-sponsored retirement plans— including 401(k), defined benefit and nonqualified plans—and the Schwab Personal Choice Retirement Account®, to recordkeeping, trustee and custodial services. McCool also leads Schwab’s investment-only sales and mutual fund clearing businesses and the divisions that provide companies with corporate brokerage and stock plan services. He is a member of the company’s Management Committee.
McCool began his career in the retirement plan servicing industry in 1984 as one of the initial employees of The Hampton Company, which became a wholly owned subsidiary of The Charles Schwab Corporation in 1995. Most recently, he served as senior vice president of Schwab Corporate & Retirement Services. Prior to that, he was senior vice president and general manager of the Plan Administrator Services enterprise and has held management positions in several departments, including client and participant services, employee education, daily valuation operations, product development, conversion and ERISA compliance and consulting.
He is active in government affairs on issues of regulatory reform affecting defined contribution plans and has provided expert testimony on various issues involving the retirement plan industry. He is a frequent speaker on retirement plan issues before various industry groups as well as professional organizations in the investment, legal and actuarial professions. McCool was appointed to the ERISA Advisory Council in 2005 and served as chair in 2007. McCool has also served as a delegate for the 2002 National Summit on Retirement Savings and was chairman of the SPARK/ National Defined Contribution Council (NDCC) Institute Investment Advice Task Force, which was charged with developing educational materials for key members of U.S. Representative John A. Boehner's Education and the Workforce Committee.
McCool earned his Bachelor of Science degree in business administration from the University of Akron. He is a member of the SPARK/NDCC Institute and the American Society of Pension Professionals & Actuaries (ASPPA) and holds multiple securities licenses.
