The company - which also has operations overseas - scored a figure of 831 on a 1,000-point scale, followed by St Louis-based Edward Jones & Co with a score of 806, and UBS Financial Services, at 798.

According to the study, investment performance is now the most crucial driver of investor satisfaction (24 per cent), surpassing the relationship with a financial advisor/broker (22 per cent).

“While the relationship between investors and financial advisors and brokers remains a key factor in investor satisfaction, changes in the economy have investors looking more closely at investment performance—now the most crucial driver of investor satisfaction,” JD Power said in the sixth year of its survey of such financial services companies.

The study measures investor satisfaction based on six factors in declining order of importance: investment performance; financial advisor/broker; commissions and fees; account setup/account offerings; convenience; and account statements.

“Current economic conditions, as reflected in declines in stock market indices, have heightened investor awareness of portfolio performance,” said David Lo, director of investment services at JD Power.

“Regardless of market conditions, advisors who succeed at managing the expectations of their investors can help to mitigate some of the negative effects. For instance, keeping investors informed by conducting regular portfolio reviews and including portfolio performance information on account statements can have a considerable impact on satisfaction,” Mr Lo said.