Commbank planning clients defy bad publicity
The Commonwealth Bank's financial planning arm may have been copping some bad publicity, but it appears to have done little do undermine client satisfaction, according to new data released by Roy Morgan Research.
The research, released today, revealed that in the 12 months to March 2014, the clients of CBA financial planning/advice had the highest satisfaction with 84.2 per cent, followed by ANZ (83.2 per cent), Westpac (80.5 per cent) and NAB (80.1 per cent).
The findings are contained within the latest Roy Morgan Research Consumer Single Source survey of approximately 50,000 people per annum.
The survey analysis said that the CBA's satisfaction score of 84.2 per cent was driven by those aged 50 and over with a satisfaction score of 88.4 per cent and by men (86.8 per cent).
It said that, in contrast, their lowest rating was among those under 50 (80.5 per cent), women (81.2 per cent) and those with a household income greater than $100,000 (81.9 per cent).
The research found the ANZ's satisfaction score of 83.2 per cent was highest for women (87.2 per cent) and those with a personal income less than $100,000 (84.7 per cent), while its lowest score was for those with a personal income greater than $100,000 (78.5 per cent) and men (79.9 per cent).
The survey found that NAB's satisfaction rating of 80.1 per cent was driven by women (82.7 per cent) and those with a household income less than $100,000 (82.6 per cent), while Westpac's satisfaction score of 80.5 per cent was higher for those aged 50 and over (84.2 per cent), and although Westpac had the highest proportion that were very satisfied (42.0 per cent) it also had the highest proportion that were dissatisfied (4.8 per cent).
AUTHOR
Staff Writer
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
