Whether they're working independently or as salaried employees, financial advisors are happiest when they feel that management truly supports the firm's stated values and client interests come first, says the latest J.D. Power advisor satisfaction study, released Thursday.
Best practices in performance, technology, compliance and administrative support yield the highest levels of satisfaction, even among advisors who receive payouts that are lower than industry average, according to the J.D. Power and Associates 2012 U.S. Financial Advisor Satisfaction Study.
"Providing the right mix of technology and support to advisors, thus optimizing the time they spend with clients, has the biggest impact on satisfaction," said David Lo, J.D. Power director of investment services, in a statement. "It's no coincidence that the firms struggling with the key best practices identified in the study are also paying the highest retention and signing bonuses to compensate for a poorer work experience."
The 2012 U.S. Financial Advisor Satisfaction Study is based on responses of nearly 2,800 financial advisors. The study was conducted between November 2011 and January 2012.
See the next pages for J.D. Power's employee advisor and independent advisor rankings.
(Read about J.D. Power's previous advisor firm rankings from 2010 at AdvisorOne.)
Employee Advisor Rankings
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