Schwab and Fidelity Top Customer Experience Ratings for Investments

This post examines the 12 investment firms included in the 2012 Temkin Experience Ratings.

Charles Schwab is the top rated investment firm and the only firm in the industry to receive a “good” rating. Fidelity Investments was close behind and leads six investment firms with “okay” ratings. The bottom five investment firms have “poor” customer experience ratings: Wells Fargo Advisors, TD Ameritrade, Morgan Stanley Smith Barney, Merrill Lynch, and E*TRADE.

The average ratings for the investment industry placed it 10th out of 18 industries in the study. Temkin Group also analyzed the changes between 2011 and 2012 and found that the investment industry has seen the sharpest decline in its customer experience ratings over the previous year.

Morgan Stanley Smith Barney and TD Ameritrade had the largest decline from last year’s Temkin Experience Ratings and five other investment firms also received lower ratings this year. Charles Schwab had the largest improvement in its customer experience score between 2011 and 2012.

Do you want to see the data? Go to the Temkin Ratings website where you can sort through all of the results for free. You can even purchase the underlying data if you want to get more access.

The bottom line: The investment industry is heading in the wrong CX direction

About Bruce Temkin
I am a customer experience transformist, helping large organizations improve business results by changing how they deal with customers. As part of this focus, I examine strategy, marketing, interaction design, customer service, and leadership practices. I am also a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Simply put, I am passionate about spotting emerging best practices and helping companies master them. And, as many people know, I love to speak about these topics in almost any forum. My “title” is Managing Partner of the Temkin Group, a customer experience research and consulting firm that helps organizations become more customer-centric. Our goal is simple: accelerate the path to delighting customers. I am also the co-founder and chair of the Customer Experience Professionals Association (CXPA.org), a non-profit organization dedicated to the success of CX professionals.

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