Corporate issuers rate satisfaction with proxy solicitor services -- Morrow, Alliance Advisors, D. F. King, and Phoenix Advisors receive highest ratings

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Nov 05, 2013, 03:14 ET

FAIRFAX, Calif., Nov. 5, 2013 /PRNewswire/ -- Group Five today announced the results of its annual study of corporate opinions of services provided by proxy solicitors. The annual study, which has been measuring issuer satisfaction with shareholder services for 23 years, is based on completed surveys from 802 corporations. Of these responses, 382 respondents rated the services of their proxy solicitor.

For the fourth year in a row Morrow & Co. received the highest client loyalty rating with a favorable rating of 90%. Alliance Advisors is also top rated for loyalty at 90%. Morrow, Phoenix Advisors, and D. F. King have the highest ratings for overall satisfaction at 97%, 96%, and 95% favorable, respectively. Morrow achieved 100% client satisfaction with call centers and Phoenix Advisors scored 100% client satisfaction on ability to forecast results, reporting of results and expertise on governance matters. D. F. King has 100% client satisfaction with account support accessibility. Both Phoenix Advisors and Alliance Advisors have 100% client satisfaction with knowledge of proxy advisory firms.

Jack Sunday of Group Five pointed out, "Corporate satisfaction with proxy solicitor services continues to be relatively high. The primary reason is that proxy solicitors have to win their clients' business every day. Many proxy solicitors are engaged on an annual basis or for a specific project. If clients are not happy they will not be back. It is relatively easy to change proxy solicitors."

"Once again we wish to thank our clients for taking the time to participate in the Group Five study. A large percentage of our clients have been with us for more than half of Morrow's existence and have worked closely with our staff whose experience covers 15 to 35 years each," commented Joe Morrow, CEO.

"Alliance is very pleased with the survey results - particularly the high client loyalty rating we received," said Michael Mackey, President of Alliance Advisors. "This achievement is especially impressive because it coincides with our rapid growth over the last 3 years and is a direct result of our talented staff and the service levels they provide our clientele."

"We want to thank our clients for their participation in the Group Five survey and for the support they regularly display for D.F. King," said Tom Germinario, Senior Vice President and co-head of the U.S. corporate proxy division. "We greatly value the strategic relationship we enjoy with each client on a year round basis and the trust they show in our advisory services for annual/special meetings, M&A transactions and contested situations," Germinario added.

Sunday cautioned that, "Morrow needs to win their clients' trust every day to maintain its leadership position." Joe Morrow added, "While the environment and issues facing corporations continue to change from year to year, we remain resolute in our commitment to having the best possible people to serve our clients. We will always hire and train bright, motivated people, who are able to assist our clients in achieving successful outcomes. Our class of 2010 has finished three proxy seasons and they are now fully integrated in all three services: Proxy Solicitation, Corporate Governance, and Stock Surveillance/Shareholder Identification. The class of 2013 has completed five months of training and they have been assigned to our clients' regular proxy solicitation team. We believe success in the future requires investment in the present."

Group Five will continue to monitor service in proxy solicitor services as the demand for these services continues to grow. Jack Sunday concluded, "It is becoming standard procedure for issuers to engage with their proxy solicitor on a year-round basis. Advisory services have never been more important than they are today."

Group Five is a consulting and market research firm. The company is best known for its consulting and research expertise in shareholder services and stock plan administration services.

No advertising or other promotional use can be made of the information in this release or Group Five survey results without the express prior written consent of Group Five.

SOURCE Group Five