Gaps Found In Discount Brokerage Satisfaction

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    Although overall investor satisfaction with Canadian discount brokerage firms increases year over year, closing the satisfaction gap with U.S. firms, large gaps in the investor experience remain, says the J.D. Power and Associates ‘2012 Canadian Discount Brokerage Investor Satisfaction’ study. Survey results indicate that Disnat ranks highest (768) in discount brokerage investor satisfaction (for a fourth consecutive year), followed by BMO InvestorLine (720), and National Bank Direct Brokerage (719). Overall investor satisfaction with discount brokerage firms in Canada averages 700 (on a 1,000-point scale), representing an increase of 21 points from 679 in 2011. In comparison, investor satisfaction in the U.S. averages 768. As well, satisfaction in the Canadian discount brokerage industry trails satisfaction in the Canadian full service brokerage industry by 20 points and in the retail banking industry by 53 points. The study finds that the largest gaps in satisfaction between brokerage firms in Canada and the U.S. are with problem resolution, trading charges and fees, and interaction.