Suspicious of the sellers

Only 19 per cent of people who have bought financial services (mortgages, savings plans, insurance policies or shares) say that they have received good or 'very good' service.

Double that number, 38 per cent, have switched away from their original choice because of the poor service that they have experienced. Recommendation from family and friends mean that over three-quarters (76 per cent) of the survey respondents said that customer service was either the number one reason or a key reason why they chose a provider.

"Customer service has become a key differentiator in the financial services industry" said Alistair Murray, director of customer service at The Hartford, an insurance and financial serices broking firm.

"The fact that two out of five people have ended relationships with financial services firms because of poor service is a real eye-opener for the industry and will no doubt prompt a number of providers to review their current customer service capabilities."

July 08^th 2008

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• The man in the mirror
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• Ask and it shall be given unto you . . .
• How are you feeling today?