Research carried out by strategy consultants Market-Dynamics Research & Consulting (MDRC) shows that client satisfaction in UK private banks and wealth managers continued to improve in 2005, and is close to the levels of satisfaction seen prior to the stock market falls of 2000 and 2001.
As in previous studies, MDRC investigated how well the UK’s wealth managers performed across the entire client experience and, in particular, how well the service provider met their clients’ expectations.
It found overall client satisfaction in UK private banks and wealth managers continued to improve in 2005. As measured by the MDRC model, aggregate client satisfaction increased by 5.4% to 64.1 in 2005, driven by a modest improvement in the performance across most of the firms in the survey.
The lowest score given in 2005 was 52.8%, compared to 2003 when the lowest score given was 36.6%.
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