Edward Jones and Fidelity Investments Top Rated in 2016 by Temkin Experience Ratings

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Craig S Johnson, Edward Jones Financial Advisor

WABAN, Mass., May 31, 2016 /PRNewswire/ — Edward Jones and Fidelity Investments deliver the best customer experience in the investment industry, according to the 2016 Temkin Experience Ratings, an annual customer experience ranking of companies based on a survey of 10,000 U.S. consumers.

Edward Jones and Fidelity tied for the top spot out of 13 investment firms in this year’s ratings, each earning a score of 64%. While this is Fidelity’s third straight year at the top, this is the first year Edward Jones has ascended from the middle of the pack.

Likewise, this year Morgan Stanley Smith Barney climbed from its historically low position in the industry—it received the lowest score in 2013—to coming in a close to the leaders with a 63%. Edward Jones and Morgan Stanley Smith Barney were the only investment firms to improve their ratings over the past year.

At the other end of the spectrum, Capital One 360 was the lowest-rated investment firm for the second year in a row, receiving a 48% rating, and placing 253rd overall.

The investment industry averaged a 58% rating in the 2016 Temkin Experience Ratings and placed 6th out of 20 industries. The average rating of the industry decreased by six percentage points between 2015 and 2016.

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,” states Bruce Temkin, managing partner of Temkin Group.

Here are some additional findings from the investment firm industry:

  • The ratings of all investment firms in the 2016 Temkin Experience Ratings are as follows: Edward Jones (64%), Fidelity Investments (64%), Morgan Stanley Smith Barney (63%), Charles Schwab (62%), Merrill Lynch (60%), Vanguard (60%), credit unions (57%), Ameriprise Financial (57%), TD Ameritrade (55%), Scottrade (54%), E*TRADE (51%), Wells Fargo Advisors (51%), and Capital One 360 (48%).
  • Morgan Stanley (+2 points) and Edward Jones (+1 point) were the only investment firms to improve their ratings between 2015 and 2016.
  • Scottrade (-12 points), Wells Fargo Advisors (-11 points), and Fidelity Investments (-9 points) declined by the most percentage-points between 2015 and 2016.

To generate these ratings, Temkin Group asked 10,000 U.S. consumers to evaluate their recent experiences with a company across three dimensions: success (can you do what you want to do?), effort (how easy is it to work with the company?), and emotion (how do you feel about the interactions?). Temkin Group then averaged these three scores to produce each company’s Temkin Experience Rating.

In these ratings, a score of 70% or above is considered “good,” and a score of 80% or above is considered “excellent.” In this year’s Temkin Experience Ratings, 20% of companies earned a “good” or “excellent” score, while 44% received a “poor” or “very poor” score.

The 2016 Temkin Experience Ratings, along with other ratings, can be accessed at the Temkin Ratings website, www.TemkinRatings.com.

The free report, “2016 Temkin Experience Ratings,” is available for download at the Customer Experience Matters® blog (ExperienceMatters.wordpress.com) and at the Temkin Group website, www.TemkinGroup.com.

About Temkin Group: Temkin Group is a leading customer experience research and consulting firm. Many of the world’s largest brands rely on its insights and advice to steer their transformational journeys, and Temkin Group accelerates their results by combining customer experience thought leadership with a deep understanding of organizational dynamics. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building up four core competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm’s ongoing research identifies leading and emerging best practices for engaging the hearts and minds of customers, employees, and partners. For more information, contact Bruce Temkin at 617-916-2075 or send an email.

*Customer experience matters is a registered trademark of Temkin Group.


Author: Staff Reporter

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