This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Responsiveness And Transparency Key For Consumer-Focused Financial Services Companies, Investors Say

Stocks in this article: MFC MFC MFC

BOSTON, July 7, 2014 /PRNewswire/ -- Ninety percent of investors say that being able to resolve problems and answer questions quickly is a major part of their definition of a consumer-focused financial services company, according to the second quarter 2014 John Hancock Investor Sentiment Survey.

Yet when asked if financial services companies are truly consumer-focused, most survey respondents said only 38 percent of financial services companies fit that bill.  Investors also said that overall, about 49 percent of companies in general are consumer-focused.

"Consumers consistently express the desire for companies to focus on their needs, yet the perception is low that companies actually accomplish this. The disconnect is something that all companies concerned about the health of their businesses should monitor," said Oscar Gonzalez, John Hancock economist.

In the survey, nearly as many investors said that transparency in fees/costs (87 percent), and customer services representatives who are friendly and knowledgeable (84 percent), are very important in defining a financial services company as consumer-focused.  

Next in order of importance in defining consumer-focus are:  easy to read and accurate statements/bills and being able to reach a live person (each 81 percent), materials in plain language (76 percent), and a user-friendly website (70 percent).

When asked to rank major attributes of a consumer-focused financial services company, investors noted: offering creative solutions to problems (62 percent), the ability to do business online (58 percent), the ability to meet reps in person (49 percent), nearby physical locations (38 percent), and having help available 24/7 (44 percent).

The findings were drawn from the second quarter 2014 John Hancock Investor Sentiment Survey, a quarterly poll of affluent investors.  The survey measures investors' feelings about the current economic climate and their evaluations of what represents a good or bad investment given the current environment.  The poll also asks consumers about their confidence in reaching key financial goals and likelihood of purchasing financial products and services.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs