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Scottrade emerged as the top-rated firm in J.D. Power & Associates 2013 U.S. Self-Directed Investor Satisfaction Study, but overall investor satisfaction with self-directed firms declined from last year.
Self-directed investment firms struggled to “find the right method and frequency of communicating with investors,” the study stated. Investors’ satisfaction was based on interaction with the company; account information; trading charges and fees; account offerings; information resources; and problem resolution. Overall satisfaction in 2013 averaged 752 on a 1,000-point scale, down from 768 in 2012.
Charles Schwab placed second in the rankings, followed by Vanguard, T. Rowe Price, TD Ameritrade, E*Trade Financial and Fidelity Investments.
A decrease in customer satisfaction with company web sites was a major reason for the overall drop, according to Craig Martin, director of wealth management practice...