Citywire reveals the investment groups that deliver on service

In the past two years wealth advisers have needed solid communication and service from investment management firms more than ever before.

As markets experience severe volatility, clients are demanding better service and more information.

Citywire has built a proprietary service index that assesses 31 asset management and discretionary wealth management firms to find those who delivered the service that advisers expect – and those who have put their head in the sand over the issue.

The best firms have gained ratings from AAA to A. To achieve a rating, firms must score above a calculated threshold and have at least six months of ranking scores.

Firms are ranked and rated every eight weeks, according to their performance in four key areas: efficiency and service, relationship management, e-service and ongoing training and support.

AAA-rated Dimensional Fund Advisors, which passively manages assets for institutional investors and clients of registered financial advisers, was the top-ranked investment firm. It claimed first place in all four categories.

AAA-rated Octopus Investments was ranked second overall, followed by AA-rated Quilter, AA-rated Invesco Perpetual and AA-rated Standard Life Investments.

Efficiency and service

For the efficiency and service category, Dimensional, Octopus and Invesco Perpetual once again featured in the top three, followed by A-rated T Bailey Asset Management, and A-rated Jupiter Asset Management in sixth spot. M&G, First State Investments, Investec Asset Management and Midas Capital, who are all A-rated, complete the top 10 in this category.

Tim Cockerill, head of research at Rowan & Co, feels particularly positive about the service he has received from Invesco Perpetual in terms of email service, written documentation and personal service.