Canada’s Big Six didn’t crack the top-three in JD Power’s investor satisfaction survey. But overall satisfaction with the full-service investment firms increased – especially among investors who were given a transparent account of fees.
Customer satisfaction in Canadian banks improved in 2013, but more people see banks as lagging in innovation and customer focus. The Big Five are also underperforming mid-sized rivals.
Where will it all end? A major global bank is doing away with commissions as part of its advisor compensation, even where there is no regulatory impetus.
A new poll identifying investors as particularly bullish on Canadian investments suggests it could be time to steer clients outside the country, say some independent-minded advisors.