PRINCETON, N.J., March 26, 2012 /CNW/ - Group Five, a corporate services research and consulting company, today announced the results of its annual study of corporate opinions of services provided to registered shareholders by Canadian securities transfer agents. The annual study, which is the most comprehensive independent study of its type, had 207 corporations participating — representing over 2 million registered shareholders. The study reported that client satisfaction with transfer agents increased four percentage points from 2010 to 90% favourable and client loyalty increased five points to 82% favourable.
Canadian Stock Transfer, the former CIBC Mellon Trust Company, and Computershare, who together service the vast majority of companies and shareholders in Canada, shared the highest client satisfaction and loyalty rates, at 90% and 82% respectively.
In addition to increases in overall client satisfaction, this year's study showed significant improvements in client satisfaction with account management, which increased 9 points, issuer services, which increased 10 points, shareholder services, which increased 8 points, and annual meeting services, which increased 5 points. Client satisfaction with fees remained unchanged at 69% favourable.
Overall client satisfaction with transfer agent services, which is at its highest level ever, has increased 16 percentage points since 2007. Kathy Huston of Group Five pointed out, "The sale of the CIBC Mellon business to the Link Group in 2010 has refocused the industry on customer service." Ms. Huston added, "Since that transaction there has been a steady increase in both client satisfaction and client loyalty."
The study measured satisfaction with the four major services provided by transfer agents. These include: account administration, annual meeting service, service to issuers, and service to shareholders. In addition, the study evaluated satisfaction with fees and out-of-pocket expenses.
Group Five is a corporate services research and consulting firm headquartered in Princeton, New Jersey, USA. The firm is best known for its consulting and research expertise in corporate and shareowner satisfaction in the securities transfer and stock plan administration industries.
No advertising or other promotional use can be made of the information in this release or Group Five survey results without the express prior written consent of Group Five, Inc.
SOURCE GROUP FIVE
For further information:
Kathleen Huston, +1-609-924-4554, [email protected]