The J.D. Power 2015 United States Full Service Investor Satisfaction Study revealed that Edward Jones and Fidelity Investments are tied as the top investment firms in the United States, as reported by Investment News. The other firms in the top ten are Charles Schwab and Company and Wells Fargo Advisors, which are also tied, Raymond James, Ameriprise Financial, Merrill Lynch Wealth Management, Stifel, Nicolaus and Company, US Bank, RBC Wealth Management, UBS Financial Services, and LPL Financial.
More than 5,300 investors weighed in on their satisfaction with investment firms for the United States Full Service Investor Satisfaction study, according to a press release from J. D. Power. The investors were asked to evaluate investment firms based on the quality of the investment advisors, investment performance, account information and account offerings. Firms were also evaluated based on their commissions and fees, websites, and ability to resolve problems.
Based on a 1000-point scale, Edward Jones and Fidelity Investments were tied for the highest ranking, with each firm scoring 812. Next on the list were Charles Schwab and Company and Wells Fargo Advisors, tied with a score of 810, according to Investment News.
The study concluded that investment firms are failing to make connections with the next generation, according to the press release. The study showed that 67 percent of pre-Boomer investors (defined as those born before 1946) indicated that their advisors were making recommendations that were in their best interest. However, only 40 percent of investors categorized as Generation Y (1977-1994) and Generation Z (1995-2004) felt the same way about their advisors.