Order Report - Wants and Pricing: Delivering on Customer Wants, Unpacking Pricing and Rating the Top Performer Firms
This report covers customer satisfaction ratings on all things important -- what they want from the financial firms and they do business with, their understanding of the fees they pay for products and services, and which Top Performer firms set the competitive bar. Specifically, we look at the top performing and most improved firms across five service dimensions and three pricing measurements, firm rankings on competence & creditability, reliability, tangibles, access & communication and understanding & empathy; which customer wants are most important now and what has changed from previous years; and investor understanding of how and what they pay, how a firm makes money and the impact on trust.
- Nationally, wants in Access & Communications shifted year-over-year, and the importance of Competence & Credibility rose. “Understandable” and “reasonable” fees are top wants across asset levels.
- Ameriprise, Edward Jones and Merrill Lynch appear multiple times as Top Performers for customer satisfaction on top consumer wants.
- Customers are unclear about pricing in 3 out of 4 saving, investing and advice relationships.
- There are no Top Performers on 3 of 4 pricing measurements, including understanding of how firms earn money, the biggest driver of trust.
- Data on customer wants and satisfaction informs corporate strategy as well as customer segment management and solution development.
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