Which investment provider delivers the most satisfying service to clients?
The answer, of course, is the Independent Financial Adviser (IFA).
In a survey of more than 1,000 consumers by Morgan Stanley, around 70% of respondents said they were very satisfied with IFAs.
The same level of satisfaction was expressed by only 63% of consumers when asked about direct investment providers.
Unsurprisingly, given their track record for mis-selling, only 43% were very satisfied with High Street banks.
The worst score was reserved for investment companies, with only 37% of consumers very satisfied with their service.
On a day when the financial services industry is engaged in debate about the new pricing model from a Bristol-based direct investment provider, it is interesting to note that consumers continue to prefer and value the advice they can receive from IFAs.
