DALBAR Announces Its 2010 Service Award Winners in Financial Services

Marketwire, January 18, 2011

Today DALBAR released the 2010 winners of its annual Service Awards as well as Key Honors recipients. For over two decades, Dalbar has conducted rigorous testing of service delivery and, each year identifies those mutual fund, broker/dealer, annuity, life insurance and retirement plan providers that were found to be above their peers in service to clients and to financial professionals after a full year of continuous testing.

The winners of this year's award have emerged from a highly competitive field of 126 companies. The 2010 Dalbar SQM Service Award and SQM Key Honors are distinctions afforded only to those firms that represent the service leaders within the financial services industry, committed to delivering the highest tier of service to their customers.

For many companies, winning the Dalbar Key Honors or Service Award in 2010 continues a tradition of service excellence. Out of a total of 126 firms tested, those that achieved excellence in service in 2010 are:

  • Allianz Life Insurance
  • Allstate Life Insurance Company
  • BlackRock
  • Genworth Financial
  • Goldman Sachs
  • The Guardian Insurance & Annuity Company, Inc.
  • John Hancock Annuities
  • JP Morgan Funds
  • Lord, Abbett & Co.
  • New York Life Bank, B/D Annuity Service Center
  • New York Life Insurance
  • New York Life Investment Management Service Company
  • Pacific Life
  • Primerica Shareholder Services
  • Prudential Financial
  • Prudential Retirement
  • Putnam Investments
  • SunAmerica Annuity and Life Assurance Company
  • Sun Life Financial
  • Transamerica Funds

Of particular note, Prudential Retirement was the only firm to achieve excellence in service to retirement plan participants, while Pacific Life was the only winner in the service delivered to top producing financial professionals.

"The results of our rankings showcase those companies where the institutional imperative to serve customers well is a clear management priority and the commitment to customers is central to the corporate culture," said Csilla von Csiky, Managing Director at Dalbar.

The awards are based on systematic testing of customer service throughout the year. Dalbar conducts thousands of tests to measure how financial companies respond to the needs for service from their customers. Companies that exceed a variety of industry benchmarks after one year of testing earn the Dalbar Service Award. The following table provides a list of all firms that were recipients of Dalbar's 2010 Service Award for each category and highlights their historical results.

Dalbar 2010 Service Award Winners

Mutual Funds*
19 years Putnam Investments
11 years BlackRock
Transamerica Funds
10 years JP Morgan Funds
New York Life Investment Management Service Company
8 years Primerica Shareholder Services

Financial Intermediaries - Post-Sale**
11 years Goldman Sachs
10 years BlackRock
8 years Pacific Life
6 years SunLife Financial
5 years Lord, Abbett & Co.
Genworth Financial
John Hancock Annuities
3 years Allstate Insurance Company

Financial Intermediaries - Pre-Sale**
10 years JP Morgan Funds
1 year Allianz Life Insurance - Fixed Annuities
Allianz Life Insurance - Variable Annuities
Sun Life Financial

Financial Intermediaries - Premier**
1 year Pacific Life

Annuities*
11 years New York Life Bank and B/D Annuity Svc Center
10 years The Guardian Insurance & Annuity Company, Inc.
Pacific Life Insurance
Prudential Financial
8 years New York life Insurance
5 years Sun America Annuity and Life Assurance Company

Retirement Plans*
2 years Prudential Retirement

*The Mutual Fund, Annuity and Retirement Plan categories represent service provided to consumers of these products.
**The Financial Intermediary categories represent service provided to professionals who advise investors.

In addition, Dalbar named the financial service institutions that are Key Honors winners in 2010. Companies that consistently meet industry benchmarks earn Dalbar's SQM Key Honors. In 2010, Genworth Financial achieved this distinction in their first year of testing.

Dalbar 2010 SQM Key Honors Winners
Life Insurance Service Evaluation
Genworth Financial

Dalbar, Inc., the nation's leading financial services market research and consulting firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the US and Canada, Dalbar develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, life insurance, property and casualty, and managed account industries. Measurements include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.