| 21 July 2009

The J.D. Powers satisfaction survey of full-service investment firms ranked Edward Jones as the firm with the highest customer satisfaction. The survey also found that the relationship with the adviser ranked as more important than actual investment returns. This is a change from previous years when returns consistently ranked as the highest concern among investors.

Other factors measured include convenience, fees, account offerings and account statements. In a statement, David Lo, director of investment services at J.D. Power and Associates, discussed the importance of the adviser relationship. "As investment performance tends to be a relative and subjective measure, it's more important that the financial advisor manages investors' expectations of investment performance."

LPL Financial Services, a firm based in Boston, ranked second in the survey. Schwab ranked third and Raymond James and Ameriprise rounded out the top five. Firms that rank high in the survey tend to grow assets and firms that rank low in the survey tend to lose assets, according to the researchers.

Raymond James won the award for full-service investment firms last year. Scottrade currently holds the 2008 title for highest satisfaction among self-directed investors.