Customer satisfaction with investment firms fell an average six percentage points in the latest annual Temkin Group "Experience Ratings" survey.
The two top firms scored 64% on the customer satisfaction survey, well above the average 57.4% for investment firms, but only Edward Jones and Morgan Stanley scored higher this year than last. The remaining 11 firms scored lower this year, led by Scottrade, which fell 12 points followed by Wells Fargo Advisors, down 11 points, and Fidelity, down 9 points.
None of the investment firms scored 70% or above, which is considered a "good" rating, according to the Temkin Group (80% or above is considered excellent).
Still, Bruce Temkin, managing partner of Temkin Group, said in a press release that "Fidelity's ability to consistently deliver the best customer experience in the investment industry is impressive, as is Edward Jones' and Morgan Stanley's ability to improve their customer experience in a year when most other companies declined."