Boston, MA, Feb. 5, 2013 (GLOBE NEWSWIRE) -- DALBAR, Inc. announced the release of its 15th annual Trends and Best Practices in Investor Statements reports for Brokerage, Mutual Funds, Annuities and Retirement Plans. These reports evaluate the statement's ability to address the needs of both the investor and the financial professional.
The public fears of financial services that were ignited by the enormous losses of 2008 continue to grow. In turn, these fears have eroded the trust in financial markets far more than volatility or weak performance. The financial services industry has the weapon to fight this crisis in confidence: the client statement. By far the most visible communication to clients, the statement could be the Trojan Horse to enter every home with a reassuring message of accountability.
The following firms have taken a leadership role in attempting to regain client trust by providing a clear answer to the question of how much clients are paying for their mutual fund investments:
"Rebuilding trust with regards to fees is remarkably simple and very low risk," said Kathleen Whalen, Managing Director at DALBAR. She added, "Stating what total fees were or what the fees are likely to be, highlighted on the medium of the client statement, produces the desired effect of openness."
DALBAR takes a systematic approach to evaluating statements using a method that has been developed and refined over the past two decades. Statements earned credit for including features that strongly impact an investor's ability to act prudently and make financial decisions. Features include the ability to understand the significance of the information, answer pertinent questions and utilize design elements that enhanced their overall effectiveness. The table below includes the firms that rated "excellent" in each industry sector:
Firms Awarded DALBAR's 'Excellent' statement designation in 2012
Brokerage | Mutual Fund | Defined Contribution | Defined Benefit |
Baird | BlackRock | American Funds | MassMutual |
Edward Jones | Lord Abbett | Mass Mutual | Prudential Financial |
Merrill Lynch | Transamerica | Merrill Lynch | |
Morgan Stanley | Principal Financial Group | ||
National Financial | Prudential Financial | ||
Pershing | Securian | ||
Raymond James | T. Rowe Price | ||
UBS Financial Services | |
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Wells Fargo |
For more information on the 15th Annual Trends & Best Practices in Investor Statements reports or on DALBAR's Statement Evaluation services, please visit the web site at www.dalbar.com or contact Brooke Halloran at 617-624-7273 or bhalloran@dalbar.com.
DALBAR, Inc. is the financial community's leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.