...but who can blame them given the poor service by providers.Actually what the survey press release said was "
Advisers not Generally Loyal to Providers" (Update 10/2013 - Link has been removed from source) but I thought my headline had a better ring.The gist is as follows: Less than one third of all financial services firms in special investment categories have positive Net Promoter Score (NPS) ratings among advisers who sell their products. The average NPS
in the best segment was
+19%. Worst was -16%.Only three variable annuity providers out of 17 managed to get positive NPS scores, according to Cogent Research.
“Companies can no longer afford to think of loyalty as a ‘soft’ metric,” said Bruce Harrington, Cogent MD.
enGaugement Comment: Good example of use of NPS in non-consumer setting. We would guess since that the advisers earn a living from the providers it is likely that they will be more critical than consumers making a one-time purchase - all the same, a good benchmark for financial service industries.| Advisor Loyalty Rankings: Mutual Fund Providers | |
Advisor Loyalty
Rankings: Variable Annuity Providers |
| Positive NPS | | Positive NPS |
| 1. American Funds | | 1. Ameriprise Financial |
| 2. Russell | | 2. Lincoln National |
| 3. Franklin Templeton | | 3. John Hancock |
| 4. Dodge & Cox Funds | | Negative NPS |
| 5. The Hartford | | 4. Jackson National |
| 6. Davis Funds | | 5. The Hartford |
| 7. OppenheimerFunds | | 6. Genworth Financial |
| 8. Natixis Funds | | 7. ING |
| Negative NPS9. Fidelity Advisor Funds | | 9. Prudential/American
Skandia/Allstate |
| 10. JPMorgan Funds | | -Industry
Average: -14% |
| -Industry
Average: -5%11. John Hancock Funds | | 11. MetLife |
| 12. RiverSource | | 12. Nationwide |
| 13. Janus | | 13. AXA Financial/MONY |
| 14. PIMCO Funds | | 14. AIG/SunAmerica |
| 15. Van Kampen | | 15. Sun Life |
| 16. Eaton Vance | | 16. Aegon/ Transamerica |
| 17. AllianceBernstein | | 17. Allianz |
| 18. BlackRock | | |
| 19. Calamos | | |
| 20. Lord Abbett | | |
| 21. Legg Mason Funds | | |
| 22. American Century | | |
| 23. Evergreen Investments | | |
| 24. MFS Investment Management | | |
| 25. DWS Scudder | | |
| 26. Federated Investors | | |
| 27. Morgan Stanley Funds | | |
| 28. AIM Investments | | |
| 29. Dreyfus | | |
| 30. Pioneer Investments | | |
| 31. Putnam Investments | | |
