March 30, 2015

Wealth Management client survey: A record 100% satisfaction rate

Perfect score among families with $20 million or more in assets and a record-setting 95% satisfaction overall for other client groups


BNY Mellon Wealth Management earned the highest marks on record from its investment management and family wealth clients for client satisfaction, according to its annual survey.

An unprecedented 100% percent of BNY Mellon Wealth Management’s family wealth clients – with assets of $20 million or more – expressed satisfaction with the firm’s services.

Satisfaction rates of investment management clients with assets below that threshold also hit an all-time high: 95% of survey respondents said they were satisfied or very satisfied with the way the wealth manger has helped them in 2014. Likewise 95% of those surveyed said they would refer the firm to their friends and family members. That number is significant since as much as half of the wealth manager’s new business comes from client referrals.

“In the 13 years that we have been surveying our clients, these 2014 satisfaction rates were the best ever,” said Larry Hughes, CEO of BNY Mellon Wealth Management. “With that said, though, we’re not satisfied with 95%. We’re aiming to win over that final 5%. We want 100% client satisfaction.”

BNY Mellon Wealth Management takes client feedback very seriously. “It’s key to our continued growth and development,” Mr. Hughes said. “So we’re doubling efforts to deliver the very best to each client to win over that final five.”