Schwab Defends App After Rival Exec Says It 'Sucks'

What You Need To Know

• The chief brokerage officer of competitor Robinhood recently criticized Schwab's mobile app.
• Audited complaints have totaled about 55 per million converted accounts, Schwab says.
• Investor services head Jonathan Craig likened the complaints to a BMW driver waking up to find a Mercedes in the garage.