Smith Barney Leads Stock Plan Administration Industry in Client Satisfaction Independent Benchmark Study Shows
New York, NY – According to a study released by Group Five, a consulting firm known for its research expertise in corporate and shareowner satisfaction in the securities industry, Smith Barney has received the highest client satisfaction rating in a study on overall customer satisfaction, service, customer loyalty, responsiveness and administrator accessibility in equity compensation plan administration.
The study reveals that Smith Barney overwhelmingly leads the industry in many key service areas, including account administration (87% favorable versus an industry average of 55%), participant service (83% versus 57%), and overall satisfaction (77% versus 48%).
“We are pleased to hear that the study recognizes the advantages of working with the experienced and knowledgeable Smith Barney Financial Advisors,“ said Julian Clark, Managing Director of Smith Barney Global Stock Plan Services. ”Rarely are two plans ever the same. Our team of advisors, with 20 years of financial services experience on average, and client managers, who understand the flexibility and expertise required to meet the needs of each plan sponsor, work hard for this recognition.”
Clark also attributes the favorable results to Smith Barney’s significant global reach, including Citi’s presence in over 100 countries, call centers located in Asia, Europe and North America, and Customer Service Representatives that can speak to employees in 13 different languages.
Above all, Clark said he is particularly pleased about the high marks Smith Barney received in the area of customer loyalty. He says, “According to the study, our clients would recommend us to other corporations more often than any other firm in our industry, and that’s one of the most important compliments we can ever receive. ”Smith Barney Global Stock Plan Services services half of the ten largest companies in America and 25% of the Fortune 500. The firm works with 25 of the largest companies in Europe and 15% of the Dow Jones Stoxx 50.
The 2007 Equity Compensation Plan Services Study, with 178 responses from representatives of corporations who outsource their plan administration, is an annual study of plan sponsors’ opinions of the services provided by equity plan administrators. The study included the largest employee stock option plan administrators in terms of the number of plans administered.
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