Make us your home page

Raymond James Financial fifth in customer satisfaction survey

NEW YORK — St. Petersburg's Raymond James Financial Inc. ranked fifth in a survey of full-service investment firms, according to J.D. Power and Associates. Edward Jones, a St. Louis company with more than 12,000 financial advisers, won the highest ranking in the survey for the second consecutive year.

Edward Jones earned a score of 794 on a 1,000-point scale, up from 784 in 2009, with strong marks for its investment advisers and performance, according to the survey. The average score was 769. Raymond James scored 778.

While overall satisfaction with investment firms has improved from last year, scores for being customer-focused declined, said California marketing services company J.D. Power.

"During the past year, most investors have enjoyed positive short-term gains in their portfolio as a result of the market recovery," said David Lo, director of investment services at J.D. Power. "This has not translated into an improvement in investor sentiment toward their firm" as an increasing number of investors said they believe their company is driven by profits, rather than customer satisfaction.

RBC Wealth Management, a unit of Toronto's Royal Bank of Canada, ranked second with a score of 793, edging out last year's second-place holder, LPL Financial Corp. of Boston, which came in third. Charles Schwab Corp., based in San Francisco, slipped from third to fourth, just ahead of Raymond James Financial.

The lowest-ranked firm was Chase Investment Services Corp., a unit of New York-based JPMorgan Chase & Co., with a score of 739. Thomas Kelly, a spokesman for JPMorgan, declined to comment.

Merrill Lynch & Co./Banc of America Investment Services, Inc., a unit of Bank of America Corp., was next to last after taking the bottom spot in the 2009 survey.

Raymond James Financial fifth in customer satisfaction survey 07/19/10 [Last modified: Monday, July 19, 2010 7:46pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. At Menorah Manor, planning paid off during Irma

    Nursing Homes

    ST. PETERSBURG — Doris Rosenblatt and her husband, Frank, have lived in Florida all of their lives, so they know about hurricanes.

    Raisa Collins, 9, far left, works on a craft project as Certified Nursing Assistant Shuntal Anthony holds Cassidy Merrill, 1, while pouring glue for Quanniyah Brownlee, 9, right, at Menorah Manor in St. Petersburg on Sept. 15. To help keep its patients safe during Hurricane Irma, Menorah Manor allowed employees to shelter their families and pets at the nursing home and also offered daycare through the week. The facility was able to accommodate and feed everyone who weathered the storm there. [LARA CERRI   |   Times]
  2. After Irma, nursing homes scramble to meet a hard deadline

    State Roundup

    TALLAHASSEE — Florida's nursing homes and assisted-living facilities find themselves in an unfamiliar place this week — pushing back against Gov. Rick Scott's administration over new rules that require them to purchase generator capacity by Nov. 15 to keep their residents safe and comfortable in a power …

    In this Sept. 13 photo, a woman is transported from The Rehabilitation Center at Hollywood Hills as patients are evacuated after a loss of air conditioning due to Hurricane Irma in Hollywood. Nine have died and patients had to be moved out of the facility, many of them on stretchers or in wheelchairs. Authorities have launched a criminal investigation to figure out what went wrong and who, if anyone, was to blame. [Amy Beth Bennett | South Florida Sun-Sentinel via AP]
  3. Trigaux: How Moffitt Cancer's M2Gen startup won $75 million from Hearst


    TAMPA — A Moffitt Cancer Center spin-off that's building a massive genetic data base of individual patient cancer information just caught the attention of a deep-pocketed health care investor.

    Richard P. Malloch is the president of Hearst Business Media, which is announcing a $75 million investment in M2Gen, the for-profit cancer informatics unit spun off by Tampa's Moffitt Cancer Center. Malloch's job is to find innovative investments for the Hearst family fortune. A substantial amount has been invested in health care, financial and the transportation and logistics industries.
  4. Three-hour police standoff ends, thanks to a cigarette


    TAMPA — A man threatening to harm himself was arrested by Tampa police on Tuesday after a three-hour standoff.

  5. Another Hollywood nursing home resident dies. It's the 9th in post-Irma tragedy.

    State Roundup

    The Broward County Medical Examiner's office is investigating another death of a resident of the Rehabilitation Center at Hollywood Hills — the ninth blamed on the failure of a cooling system that became a stifling deathtrap three days after Irma hit.

    Carlos Canal, pictured at 47 years old, came to Miami from Cuba in 1960. Above is his citizenship photo. [Courtesy of Lily Schwartz]