Investment firms often operate on a results-oriented basis, with the idea that customers will simply go wherever makes them the most money, regardless of the customer experience. Today’s investor, however, is looking for more than a purely transactional relationship.
Customers have seen what CX has done for brands like Amazon and Google, and now expect similar offerings across all industries, even those that had previously shied away from customer-facing processes.
Based on the “2016 Temkin Experience Ratings,” released by market research firm Temkin Group, The top prize was split between Edward Jones and Fidelity, with both firms earning a 64% rating according to a survey of 10,000 U.S. consumers. Edward Jones earned its first No. 1 ranking, while Fidelity has earned the honor for three consecutive years.
Morgan Stanley Smith Barney made an impressive showing, falling just one percentage point from the top spot after several years of bottom-tier rankings.
“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,” said Bruce Temkin, managing partner of Temkin Group.
Capital One 360 took the unfortunate bottom spot in this year’s report, earning a 48% rating, placing 253rd when compared with companies across all industries.
As a whole, the investment firm vertical placed a very respectable sixth out of 20 surveyed industries, but was down in overall rating. This may not speak only to declining CX, but also to the increasing demands of today’s consumer.
The most dramatic drops in year-over-year ratings were found at Scottrade, Wells Fargo Advisors and, most interestingly, top-rated Fidelity with drops of 12, 11, and 9 points, respectively.

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