CHARLOTTE, N.C. – Feb. 28, 2017 – LPL Financial is proud to announce that the firm and its advisors have been ranked No. 1 in net customer loyalty among 24 leading financial distributor firms, according to findings from Investor Brandscape®, a Cogent Reports™ study released by Market Strategies International. LPL earned a Net Promoter® Score1 (NPSSM) of 70, 25 points higher than the No. 2 firm and was the only firm identified as a “star” by Cogent. LPL’s NPS was also 49 points higher than the average score of 21 for all firms.
Cogent’s study explored 10 key drivers of investor loyalty. LPL ranked among the top five in seven of the 10 driver areas, including three No. 1 rankings. According to the study, LPL Financial ranked:
LPL Financial ranked:
• No. 1 in quality of investment advice;
• No. 1 in financial stability;
• No. 1 in satisfaction of fees and expenses;
• No. 3 in retirement planning services;
• No. 3 in quality and clarity of statements;
• No. 4 in range of investment products and services; and
• No. 4 in easy to do business with.
“We’re proud and humbled by this great recognition of LPL and, more importantly, our 14,000 advisors who every day offer objective financial guidance to help American investors work toward their financial goals,” said Andy Kalbaugh, managing
According to Cogent, the aspects of “financial stability” and “easy to do business with” are the two leading drivers of investors’ satisfaction with their primary distributor firm. The third most important overall driver of satisfaction is “quality of investment advice,” which has the potential to negatively impact client satisfaction much more so than strengthening client relationships.
About the Investor Brandscape® Report
Cogent Reports conducted an online survey with 3,910 affluent investors who were recruited from the ResearchNow and SSI online panels from June to August of 2016. In order to qualify, respondents were required to have at least $100,000 in investable assets and have sole or shared household financial decision-making responsibilities. Due to their opt-in nature, the online panels (like most others) do not yield a random probability sample of the target population. Thus, target quotas and weighting are set around key demographic variables using the most recent data available from the US Census Bureau. As such, it is not possible to compute a margin of error or to statistically quantify the accuracy of projections. Market Strategies will supply the exact wording of any survey question upon request.
About Market Strategies International
Market Strategies International is a market research consultancy with deep expertise in financial services with practice areas serving wealth, banking, payments, and insurance. We blend primary research with data from our syndicated, benchmarking and self-funded studies as well as Big Data to help our clients grow their businesses and brands. Market Strategies’ research specialties include brand, communications, CX, product development, and segmentation.
Our syndicated products, known as Cogent Reports, are the wealth sector’s leading source for insight on the attitudes, opinions, and behaviors of key investor populations, including advisors, plan sponsors and affluent and institutional investors. Founded in 1989, Market Strategies is one of the largest market research firms in the world, with offices in the US, Canada and China and additional industry expertise in consumer & retail, energy, healthcare, technology, and telecommunications. Read Market Strategies’ blog at FreshMR, and follow us on Facebook, Twitter, and LinkedIn.
About LPL Financial
LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc.
Securities and Advisory Services offered through LPL Financial. A Registered Investment Advisor, Member FINRA/SIPC.