J.D. Power expands broker study to include independents

Adviser satisfaction with independent broker-dealers will be ranked separately for the first time by J.D. Power and Associates, the company said today as it launched its annual survey of advisers’ relationships with their brokerage firms.
The survey, now in its third year, had previously focused on wirehouses and regional firms.
“Independent broker-dealers had been neglected in earlier surveys and we wanted to recognize this important and growing segment,” said David Lo, director of the marketing information company’s investment services and mortgage practice.
The survey covers key areas of adviser satisfaction including compensation, support (compliance, home office, marketing and sales and practice management) and ease of account transfers.
“Its results often are used by company management to create programs aimed at increasing adviser satisfaction, so the survey represents an opportunity for advisers to share their views and opinions directly — but anonymously — with senior executive leadership,” Mr. Lo said.
Survey results will be released at the end of April and advisers who participate will receive a summary of its findings, he said.
InvestmentNews, J.D. Power and Associates’ exclusive media partner for this survey, will be given access to the report’s findings at the time of its release.