Edward Jones ranks highest in customer satisfaction with full-service investors, with top ratings from customers in five of six drivers that determine overall satisfaction, according to the J.D. Power and Associates 2006 Canadian Full Service Investor Satisfaction Study released today.

The inaugural study establishes a benchmark for investor satisfaction and creates norms that allow individual investment institutions to evaluate how they compare to competitive firms in Canada. Six factors are examined within the study to evaluate overall customer satisfaction with full-service investors. They are: account set-up; account statement; convenience; cost; investment advisor/team; and investment performance.

Edward Jones ranks highest in customer satisfaction with an overall index score of 796 points on a 1,000-point scale. The firm receives the highest factor ratings in convenience, account set-up, advisor/team, investment performance and account statement.

Dundee Wealth Management Inc. follows Edward Jones in the rankings with an overall index score of 773 points and performs well in all drivers of customer satisfaction.

Raymond James Limited ranks third overall with a score of 771 points and receives the highest ratings in the area of cost.

The study finds that when customers are asked to consider all aspects of their experience with their full-service investment firm, the role of the investment advisor/team is the most important driver of satisfaction (accounting for 24% of the overall score), followed by investment performance (20%).

Additionally, investors are significantly more satisfied when there is an established leader on the team, as opposed to a team of advisors without a key leader. Satisfaction among customers who have a leader on their team of advisors averages 56 points higher than among customers who do not.

“Care and attention from the advisor impacts satisfaction considerably,” said Charles Schade, senior director of research at J.D. Power and Associates, in a news release. “Establishing a meaningful, consistent relationship between the advisor and investor is crucial in achieving satisfaction, which in turn influences customer commitment and loyalty.”

The study also examines consumers’ attitudes, brand image, and experiences with their investor, and divides them into three groups: high, medium and low commitment. Customers who are highly committed are more loyal, use additional services, are more likely to recommend their financial institution and have a lower intent to switch investment firms than customers with low commitment. Nearly 80% of highly committed customers say they would definitely recommend their investment firm, while only 21% of customers with low commitment indicate the same.

“Highly committed customers are one of an organization’s most valuable assets,” said Schade. “These customers are vital to the success of any organization.”

The study is based on responses from 5,190 investors who use full-service investment institutions.

Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, consulting, training and customer satisfaction.