James D. McCool leads the Institutional Services business, serving independent investment advisors, corporate clients, and their employees.
Institutional Services provides custodial, operational and trading support for more than 6,000 independent investment advisory firms that serve 1.5 million individual clients. It also offers a spectrum of corporate retirement and brokerage services, either directly to corporations or through third party administrators. These services include employer-sponsored retirement plans, stock plans, and corporate brokerage services, in addition to recordkeeping, trustee and custodial services. McCool also oversees Schwab’s investment-only sales and mutual fund clearing businesses. He is a member of Schwab’s Operating Council.
A veteran of the financial services industry with extensive experience in the business to business model, 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 executive vice president of Corporate and Retirement Services. Prior to that, he was senior vice president and general manager of the Plan Administrator Services enterprise serving third party administrators and retirement advisors, and he 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.
McCool 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 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 American Society of Pension Professionals & Actuaries (ASPPA) and holds multiple securities licenses.
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