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Effectiveness, ease and the emotion of a quality client experience in the investment sector have earned financial-services firm Edward Jones the No. 1 ranking for full-service investment firms in The US Investment Firms Customer Experience Index, 2019. This is the fourth consecutive year the firm has received the highest spot on the CX Index among full-service investment firms.
Forrester’s Customer Experience Index (CX Index™) methodology measures how well a brand’s customer experience creates and sustains the loyalty of its customers.
"Clients are seeking an unprecedented level of personalized attention and service from their financial advisors. To deliver that level of service, we strive to move beyond thinking about our clients – and instead to think like them," said Ken Cella, Edward Jones principal for the Client Strategies Group. "We work to anticipate what a day in the life of a client looks like and be ready with the information or answers even before they ask the question. This requires our financial advisors to move beyond the cognitive thinking of an IQ and engage their EQ (emotional quotient) to ensure our clients feel understood, informed, in control and secure."
The CX Index for the U.S. is based on an online survey of 101,341 U.S. adult customers and was fielded between February and May 2019. It benchmarked consumer experience quality at 260 U.S. brands, including 11 direct or discount brokerage and 11 full-service investment firms.
"What we believe makes this ranking significant is that it reflects the direct feedback from our clients about the quality of their client experience at Edward Jones," Cella said. "It’s a testament to our delivery of what they value – a high-touch relationship supplemented by a high-technology approach."
Forrester notes that clients who feel valued, respected and appreciated are more loyal to the investment firms that serve them.
"The firm believes face-to-face interaction is the key to developing lasting relationships, so it has built its business model around serving customers who want in-person advice from its network of (18,000) advisors and more than (14,000) branches across the U.S. Edward Jones has been recruiting experienced advisors from rival firms, tempting them with great employee experience," according to the Forrester report.