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Poll finds financial institutions doing poor job of communicating with clients

Published on .

Princeton, N.J.—Banks, savings and loans, and credit unions are doing a poor job of keeping their customers informed in these turbulent economic times, according to a new survey from Opinion Research Corp.

The survey found that 46% of respondents said the bank in which they have the most assets was not communicating with them enough.

Mutual funds fared slightly better than banks, with 42% of respondents who hold the majority of assets in mutual funds expressing disappointment in the level of communication from their provider.

Brokerage firms appeared to be doing the best job of keeping their customers informed, with 62% of respondents holding the majority of assets in brokerage firms indicating that the level of communication has been good.

Despite the chaos on Wall Street, overall confidence levels in financial services institutions remain high, with 85% of respondents saying they consider their assets to be safe.

—Kate Maddox

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