10 Best Financial Companies in 2010
And the 7 Banks that Performed Worst…
The news is out and HSBC Bank ranks worst amongst this year’s Forrester’s Customer Advocacy rankings with only 16 percent of HSBC’s customers agreeing to the statement: “My financial provider does what’s best for me, not just its own bottom line.”
The survey involved an estimated 4,500 consumers and 46 different financial services companies, which includes banks, insurance providers, and investment firms. The bottom seven banks, based on customer responses to the above question, were HSBC with only 16 percent, Citibank with 26 percent, Fifth Third Bank with 27 percent, TD/Commerce with 28 percent, Capital One with 29 percent, Chase with 31 percent, and Bank of America with 33 percent.
According to The New York Times, A spokesperson for HSBC declined to comment because he had not seen the survey.
Top Ten Rated Financial Firms
Oh, and for those of you who may be wondering, the top ten rated firms in this year’s Forrester’s Customer Advocacy rankings are:
1. USAA (insurance) – A Fortune 500 company that mainly provides insurance services, but also conducts consumer banking and investment planning product and services.
2. Any credit union
3. Any independent financial advisor
5. USAA (banking) – Yes, two top five positions.
6. AAA – Referred to as Triple-A (formerly known as American Automobile Association) boasts 50 million-plus members in North America and mainly provides vehicle insurance.
8. Any regional or local bank
9. Aflac – In the United States they’re the largest provider of supplemental insurance, in Japan, the’re the largest life insurer and second largest overall insurance company.
10. GEICO – Also known as the Government Employees Insurance Company, mainly provides auto insurance, offering coverage on more than ten million vehicles, by more than nine million policy holders.
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