BOSTON, May 18, 2016 (GLOBE NEWSWIRE) — According to the recently released DALBAR study “Meeting the Needs of High Net Worth Investors”, what matters most to wealthy investors when calling a financial services firm is:
| Very Important | |||
| An accurate response | 90.8 | % | |
| Answers to ALL their questions | 80.0 | % | |
| A thorough response | 76.9 | % | |
So … which firms are the best at delivering on those expectations?
Per DALBAR’s first quarter results from its Service Monitoring Programs, the following are the Top 3 firms across mutual funds, annuities and insurance to consistently provide accurate, thorough responses and to ensure no questions remain before ending the call:
| Mutual Fund Investors | Annuity Contract Holders | Insurance Policyholders |
| 1. Voya | 1. Prudential | 1. Guardian for disability insurance |
| 2. Goldman | 2. AXA | 2. Western & Southern |
| 3. JP Morgan | 3. AIG | 3. Prudential |
The DALBAR study also found that over 60% of wealthy investors switch their service providers if the service is sub-par, underscoring that these elite service providers clearly recognize the importance of providing a superior standard of care to the bottom line.
“These firms understand that in order to truly deliver a superior standard of care they must conduct themselves with a high degree of professionalism, coupled with ensuring accuracy in the information that is provided.”
DALBAR surveyed 300 investors by means of an online questionnaire geared toward gauging current customer service interactions and preferences. Respondents surveyed owned, on average, 3.4 investment products. Wealthy investors, defined as those with more than half a million dollars in investable assets, were oversampled and made up 24.4% of survey respondents.
DALBAR’s Service Monitoring Programs take a systematic approach to evaluating contact centers using methods that have been developed and refined over the past two decades. Credit is earned for elements that impact a customer’s ability to act prudently on the information they receive from their financial firm.
For more information on DALBAR’s study, Meeting the Needs of the High Net Worth Investor or the DALBAR Service Monitoring Programs and Rankings, please contact Brooke Halloran at 617-624-7273 or bhalloran@dalbar.com.
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.
Contact: Kathleen Whalen617.723.6400KWhalen@DALBAR.com