Lower ratings and gaps between importance and performance scores reveal much displeasure (includes main chart)
The overall average rating for the category took the biggest tumble of all in this year’s Report Card (includes chart)
Improved ratings for some firms are the result of the deposit-taking institutions placing a greater emphasis on advisors’ services
Most firms have not lowered their incentive standards for mutual funds as a result of the downturn (includes chart)
The stability of Canada’s banks has led many clients to consolidate their accounts with advisors at deposit-taking institutions (includes chart)
CIBC and Scotiabank advisors feel quite differently about their firms
And firms with antiquated systems and inefficient back offices drew the ire of advisors
Some banks are stepping up efforts to provide services; others are not
But a gap still exists between how important advisors say compensation is and their banks’ performance
Developing an integrated approach involving various divisions of a bank or credit union is the key to servicing affluent clients