Advisers are a promiscuous bunch, says recent… | CustomerGauge Advisers are a promiscuous bunch, says recent survey...

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Advisers are a promiscuous bunch, says recent survey...

...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 NPSPositive NPS
1. American Funds1. Ameriprise Financial
2. Russell2. Lincoln National
3. Franklin Templeton3. John Hancock
4. Dodge & Cox FundsNegative NPS
5. The Hartford4. Jackson National
6. Davis Funds5. The Hartford
7. OppenheimerFunds6. Genworth Financial
8. Natixis Funds7. ING
Negative NPS9. Fidelity Advisor Funds9. Prudential/American Skandia/Allstate
10. JPMorgan Funds-Industry Average: -14%
 -Industry Average: -5%11. John Hancock Funds11. MetLife
12. RiverSource12. Nationwide
13. Janus13. AXA Financial/MONY
14. PIMCO Funds14. AIG/SunAmerica
15. Van Kampen15. Sun Life
16. Eaton Vance16. Aegon/ Transamerica
17. AllianceBernstein17. 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

Next Up: Did Fred Reichheld Make a Big Mistake With Net Promoter Score?

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