A report just released by the American Customer Satisfaction Index (ACSI) Finance, Insurance and Health Care Report indicates that most major U.S. investment companies have seen their ratings from customers decline in the last year, some as much as 5%.
See ACSI’s full Finance, Insurance and Health Care Report.
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Report: Schwab and Vanguard Tops Among Customers
- While Charles Schwab and Vanguard continue to tie for first place, they do so with lower scores than last year.
- All companies in the survey lost some points in this year's survey except for Merrill Edge (Bank of America).
- Since ACSI started rating investment companies in 2017, it says customer satisfaction has suffered a net loss of 5%.
You might assume that the coronavirus pandemic has something to do with the scores. But the ACSI report says, "… the pandemic alone did not drive the entire wave of dissatisfaction. Instead, it amplified trends already present in the earlier portion of the survey period."
Final Thought
Want to know more about how to choose a good place for your money? Here's how to start investing and saving for retirement.