J.D. Power and Associates recently released findings from their most recent “Self-Directed Investor Satisfaction Survey,” which polled more than 5,000 investors who make their investment decisions without any advice from investment experts.
Topping the customer service ranking were Charles Schwab & Co. and Vanguard. Schwab ranked highest in customer satisfaction, receiving particularly high marks for information resources, and account information and interaction via its Web site.
Vanguard followed, largely due to phone-based communication, while Scottrade came in third, with high marks in trading charges and fees.
Additionally, the study found that despite recent economic turmoil, trading activity among self-directed investors has increased. Access to information is becoming increasingly important to investor satisfaction, moving away from findings in recent years that stressed price and trade execution.