Fidelity
Overall investor satisfaction stays flat: J.D. PowerPosted by RJ and Makay on May 11, 2012 |
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Investors’ satisfaction level with their full service brokerages has remained flat since last year and also since the midst of the financial crisis in 2008, according to the latest J.D. Power and Associates investor satisfaction study. Edward Jones scored highest this year, propelled by the best score in the “client satisfaction with advisor” subcategory. The study found that advisors are spending more face time with clients over their portfolios and investment performance.
Large banks have captured more of the investments of young bank clients as compared to their older and wealthier baby boomer customers, according to a new Aite Group report. The study found that 50% of Generation Y customers at large banks consider their bank to be their primary investment provider. Less than 25% of baby boomers felt the same.
Direct-investment platforms are posing a growing challenge to investment advisors, and many advisors are not sufficiently aware of clients’ use of the platforms, according to Cerulli Associates. From 2008 to 2010, assets in direct-investment platforms such as those offered at Fidelity, Vanguard and TD Ameritrade grew from $2.6 trillion to nearly $3.7 trillion, Cerulli data shows.
