These Firms Hold Top Spots for Their Outstanding Brokerage Statements According to DALBAR

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Apr 06, 2022, 11:18 ET

MARLBOROUGH, Mass., April 6, 2022 /PRNewswire/ -- DALBAR congratulates the firms holding the top brokerage statements in the 24^th Annual Trends and Best Practices in Investor Statements study.

BNY Mellon's Pershing earned the top spot for the 4th consecutive year, making multiple enhancements including a new field for additional account description and the option to list transactions by trade date rather than settlement date. Ensuring that the client experience is not negatively impacted by the change, the firm offers an optional cover page with an explanation of the new trade date display.

"Recognition from DALBAR is a direct reflection of our team's commitment to our clients," said Tom Sholes, Head of Global Strategy and Product Management, BNY Mellon's Pershing. "Our team's responsiveness to client feedback helped us make meaningful improvements to our statements, which was even more important over the last year amidst a global pandemic."

Merrill's high rank is due in part to outstanding allocation and holdings details in addition to its attention to ADA accessibility regarding online statements and client account access. Merrill's Balance Sheet offers an overview of assets and liabilities and is up front about a wide range of fees charged for the period and year-to-date.

Morgan Stanley held its number three rank for the 6^th consecutive year thanks in part to its heavy focus on transparency. The firm's statements now include clarified explanations of Estimated Annual Income and Current Yield details, as well as bolstered messaging regarding accounts that have been pledged to a Liquidity Access Line.

Another top statement, Raymond James, provides an account document that offers robust performance details and displays multiple contact options to promote advisor interaction. Raymond James' Linked Account Summary provides a complete picture by displaying current, previous period and previous year-end values as well as estimated income for all accounts in a household.

DALBAR's Trends & Best Practices in Investor Statements ranks account statements across multiple business lines and highlights improvements that have been made to statements over the previous year. This year's report also discusses the techniques firms have deployed on their statements to drive the adoption of online account management.

For more information about DALBAR's Trends & Best Practices in Investor Statements, email [email protected].

SOURCE DALBAR, Inc.