SunTrust and USAA are the best at earning customers’ trust, according to Hearts & Wallets, an investment research firm.
The two financial organizations received high trust marks from two out of three of their customers in the Hearts & Wallets Stores & Success Metrics study released Wednesday.
Hearts & Wallets asked customers of banks, investment firms and employer-sponsored retirement plans to rate the companies on such things as how much they trust the firms, whether they would recommend them to others and whether they intend to invest more with the firms.
Hearts & Wallets surveyed 5,000 customers of 27 banks, retirement plans and investment firms. Overall, banks and retirement plans were rated lower than investment firms for gaining clients’ trust.
Clients of Charles Schwab, Edward Jones, SunTrust, USAA and Vanguard were the most likely to say they intend to invest more with the firms and they would recommend the firms to others.
The study also showed Edward Jones, Morgan Stanley and Ameriprise ranked highest for giving customers retirement advice.
Bank of America leads all 27 providers for having the most relationships with U.S. clients.