Qtrade Investor, BMO Bank of Montreal and Desjardins are the Top Firms for Customer Service in Canada
TORONTO, ON --- February 7, 2017 ---Qtrade Investor, BMO Bank of Montreal and Desjardins provide the best customer service experience amongst Canadian digital brokerage and banking firms, as measured by the 2016 Surviscor Service Level Assessment review. BMO Bank of Montreal had the best Service Level Index amongst banking firms while Desjardins had the quickest average response time over the year. Qtrade Investor won both honours in the digital brokerage segment.
"Generally speaking, Canadian financial institutions are offering more customer service alternatives than ever before, including social media, live digital interactions and traditional methods," said Glenn LaCoste, President of Surviscor."The troubling fact is, for the most part, Canadians are not being properly serviced. Brokerage support is limited outside of traditional business hours and banks, as well as credit unions, are forcing customers to branches for quick service where the firms cross-sell debt and investment products," added LaCoste.
For the first time in a decade, the banking industry outperformed the self-directed brokerage industry. Based on the average response time for the top five firms in each industry, banks held a three-hour advantage in 2016 - 10 hours to seven. In 2015, self-directed brokerages topped the banks by a four-hour margin - seven hours to 11. In 2016, Qtrade Investor responded on average within two hours, which was just shy of three hours better than its nearest banking competitor Desjardins.
The review, now in its 12th year, analyzed over 170 'mystery shopper' service enquiries, per firm, sent between January 1st, 2016 and December 31st, 2016 to over 40 Canadian digital banking, credit union and brokerage firms. Complete rankings for both the brokerage and banking industries as well as further information on the firms reviewed, visit www.surviscor.com.