Client Satisfaction Survey Results
Overall Client Satisfaction Rating: 91%
In a client satisfaction survey conducted by Chatham Partners, an independent leading market research firm, 91% of respondents gave Fisher Investments 401(k) Solutions a “Best-in-Class” score for overall satisfaction.
Client feedback is vital to any organization, and it is especially important to Fisher Investments 401(k) Solutions as it helps uncover how well a company is doing at meeting and exceeding client expectations for 401(k) plan management and employee support. Here is some of what Fisher Investments 401(k) Solutions heard in their second client satisfaction survey in 2019:
- Understanding Plan and Participant Goals: 97% of respondents gave our Retirement Counselors and Support Team a "Best-in-Class" score.
- Easy to do Business with: 93% of respondents gave us a "Best-in-Class" score.
- Overall Client Satisfaction: 91%, higher than the industry benchmark of only 88%.
- Support with Managing Fiduciary Responsibility: 96% of respondents gave us a "Best-in-Class" score.
- Has Helpful Support Staff: 97% of respondents gave us a "Best-in-Class" score.
- Investment Management Expertise: 95% of respondents gave us a "Best-in-Class" score.
- Help with Education and Enrollment Meetings: 94% of respondents gave our Retirement Counselors and Support Team a "Best-in-Class" score.
| Attributes | % of Clients Rating Providers “Best In Class” (Scoring 6 - 7) | |
|---|---|---|
| Fisher Investments 401(k) Solutions |
Benchmark | |
| Overall Satisfaction with Fisher Investments | ||
| 91% | 88% | |
| Overall Impressions | ||
| Treatment as an important client | 96% | 82% |
| Offers a full range of services | 91% | 81% |
| Provides good value for the money | 83% | 77% |
| Easy to do business with | 93% | 89% |
| Has helpful support staff | 97% | 88% |
| Is innovative | 82% | 68% |
| Would recommend to others | 94% | 81% |
| Proactively offers new ideas and solutions | 76% | 70% |
| Has an excellent reputation | 94% | 80% |
| Retirement Counselor and Support Team | ||
| Investment management expertise | 95% | 84% |
| Understanding of plan and participant goals | 97% | 82% |
| Support with managing fiduciary responsibility | 96% | 70% |
| Assistance with enrollment / education meetings | 94% | 70% |
| Knowledge of available solutions in the marketplace | 92% | 75% |
| Overall retirement industry knowledge / expertise | 99% | 75% |
| Overall Satisfaction with Frequency and Quality of Contact | ||
| 90% | 82% | |
| In Person Meetings | ||
| Frequency | 82% | 75% |
| Quality | 95% | 91% |
| Value | 96% | 84% |
| Level of Preparation | 98% | 80% |
| Quality of presentation materials | 98% | 84% |
| Overall Satisfaction | 93% | 78% |
| Other Correspondence | ||
| Frequency | 91% | 79% |
| Quality | 95% | 86% |
| Value | 95% | 76% |
| Level of preparation | 96% | 86% |
| Quality of materials / ideas shared | 95% | 85% |
| Overall Satisfaction | 95% | 80% |
| Overall Satisfaction with Support in Managing Participant Success | ||
| 89% | 89% | |
| Investment Review | ||
| Frequency | 85% | 77% |
| Quality | 91% | 82% |
| Value | 89% | 80% |
| Level of preparation | 89% | 87% |
| Overall Satisfaction | 90% | 73% |
| Plan Fees and Expenses Review | ||
| Frequency | 81% | 76% |
| Quality | 87% | 86% |
| Value | 81% | 77% |
| Level of preparation | 88% | 87% |
| Overall Satisfaction | 81% | 78% |
| Plan Design Review | ||
| Frequency | 84% | 82% |
| Quality | 90% | 89% |
| Value | 89% | 82% |
| Level of preparation | 90% | 84% |
| Overall Satisfaction | 89% | 84% |
| Overall Satisfaction with Fiduciary Support | ||
| 90% | 85% | |
| Plan Sponsor Fiduciary Responsibility Review | ||
| Frequency | 83% | 80% |
| Quality | 91% | 84% |
| Value | 90% | 81% |
| Level of preparation | 93% | 85% |
| Overall Satisfaction | 91% | 76% |
| Overall Satisfaction with Support in Managing Plan Sponsor Success | ||
| 87% | 87% | |
| Participant Retirement Preparedness Review | ||
| Frequency | 89% | 87% |
| Quality | 92% | 87% |
| Value | 90% | 84% |
| Level of preparation | 91% | 89% |
| Overall Satisfaction | 91% | 84% |
| Participant Services | ||
| Group education / enrollment meetings | 94% | 81% |
| Educational webinars | 82% | 69% |
| Quarterly newsletters | 89% | 79% |
| One-on-one meetings | 92% | 75% |
Methodology
Fisher Investments 401(k) Solutions hired an independent leading market research firm, Chatham Partners, to conduct the client satisfaction survey in September and October 2019. Respondents were asked to rate Fisher Investments 401(k) Solutions on the attributes shown in the chart above, using a scale of 1 (very dissatisfied, strongly disagree) to 7 (very satisfied, strongly agree). Ratings of 6 or 7 are considered “Best-In-Class.” Chatham Partners invited 371 contacts of 281 current clients of Fisher Investments 401(k) Solutions to participate. A total of 110 contacts (30%) responded, representing 37% of all clients invited. All responses are included in the results.
Given no other retirement advisers participated in the survey, Chatham Partners created a benchmark for comparison to the Fisher Investments 401(k) Solutions results. The benchmark was based on survey responses from plan sponsors, people responsible for managing their company’s 401(k) plan. To be included in the benchmark, respondents had to utilize a retirement plan adviser, have final decision making authority or influence on decisions made for the plan, and have less than $10MM in assets in their company 401(k).
The resulting ratings are not representative of any one client's experience because the rating reflects an average of all, or a sample of all, client experiences and are not indicative of future performance.