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LPL Financial, Ameriprise, Bank of America and Edward Jones Are NPS Leaders Among Affluent Investors

The Phoenix FA-CX issues its 2018 financial advisor benchmarks.

In a new look at how affluent and high net worth (HNW) investors rate their financial advisors, a new financial advisor benchmarking system from Phoenix Marketing International found that four wealth management firms received the highest Net Promoter Scores (NPS) among affluent and high net worth (HNW) investors in 2018.: LPL Financial, Ameriprise, Bank of America and Edward Jones.

The latest data from the Phoenix FA-CX shows that LPL Financial and Ameriprise were the NPS leaders among Mass Affluent (households with $250k to $999k in investable assets).  Bank of America and Edward Jones received the highest NPS ratings among HNW investors.

“Our latest data from affluent and HNW retail investors showed several common factors for these NPS leaders” said David Thompson, Managing Director, Affluent Practice, at Phoenix Marketing International.  “The first was a strong client/advisor relationship that builds trust, and the second was solid investment performance.”

The top five FA-CX NPS leaders among Mass Affluent investors were:

  1. LPL Financial
  2. Ameriprise
  3. Bank of America
  4. Wells Fargo
  5. Raymond James

The top five FA-CX NPS leaders among HNW investors were:

  1. Bank of America
  2. Edward Jones
  3. Ameriprise
  4. LPL Financial
  5. Merrill Lynch

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About the Phoenix FA-CX Benchmarking Dashboard

The Phoenix FA-CX is a new interactive online dashboard offering client experience benchmarks for the wealth management industry.  The benchmarks are derived from the Phoenix Wealth & Affluent Monitor monthly questionnaire of 900+ qualified affluent and high net worth households across the U.S.  Wealth managers can use the benchmarks to obtain client experience norms for specific levels of wealth, generation, or distribution channel. CX benchmarks are also available at the competitor level for individual leading wirehouses, broker-dealers and national banks in the U.S.  Dashboards can also be customized based on subscriber needs.

About the Phoenix Wealth & Affluent Monitor

Since 2003, the Phoenix Wealth & Affluent Monitor has provided continuous tactical and strategic intelligence to the financial industry from affluent and high net worth investors.  The U.S. platform completes over 900 online surveys per month with affluent and HNW households across the country. Wealth management industry subscribers receive monthly, quarterly and annual reports, along with analyst support and the ability to add proprietary questions to the tracking survey.

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