Broker-client contact and client satisfaction: Are client attitudes towards brokers bullish and bearish with the stock market?

Abstract

The rapidly changing financial services industry requires an intimate understanding of broker clients in order for brokerage firms to increase and maintain a client base. This study uses a questionnaire in order to determine what clients felt were brokers' strengths and weaknesses in attaining client satisfaction. The results of the survey indicate that clients' perceptions of brokers' honesty, aptitude, knowledge and service to its customers are main determinants of client satisfaction. The overall responses during the bull market and the bear market show little change in client attitudes towards brokers.