How to Negotiate Like a Pro

How to Negotiate Like a Pro

Buying a home is probably one of the most significant purchases you can make. After all, it’s a large investment of time, resources, and most importantly, funds. With affordability coming in at the top of the list for many prospective homeowners, getting the best deal on your mortgage has become that much more important. And the question of whether or not you get an incredible bargain often comes down to one simple thing: effective negotiation.

It’s also critical to note that the landscape of mortgage negotiation has fundamentally changed. In the age of instant information, customers have more options than ever […] Read more

Questrade 2018 Excellence Seal DALBAR Announcement

Questrade 2018 Excellence Seal DALBAR Announcement

Direct brokerages succeed when their clients succeed. When complicated issues arise, investors want a competent and engaged human on the other side of the phone to help solve their problems. Despite the increasing capability and function of online platforms, the traditional contact centre remains a critical service for supporting customers.

Questrade prides itself on its contact centre team, which has been trained with in-depth product knowledge and expertise, and to always go above and beyond to provide customers with relevant solutions to help them with their investing goals.

DALBAR is pleased to award Questrade the 2018 Telephone Service Seal of Excellence. Questrade chose DALBAR to independently audit the […] Read more

Tips to Get a Better Rate on Your Mortgage

Tips to Get a Better Rate on Your Mortgage

Housing is a hot topic for many consumers across the country. With housing prices in many markets pushing, and sometimes exceeding, the limits of affordability, saving money on mortgages is more important now than it has ever been for anyone with a mortgage or anyone thinking about getting one.

While hunting for a mortgage can feel overwhelming, the good news is that it doesn’t have to be. Yes, getting the right kind of mortgage does take time and effort, but, if saving money and getting a good deal are your thing, then you’ll want to keep reading.

There are lots of great resources for consumers on how to shop […] Read more

HSBC 2018 Excellence Seal DALBAR Announcement

HSBC 2018 Excellence Seal DALBAR Announcement

Direct brokerages are constantly competing to win over increasingly demanding and savvy self-directed investors. While the lowest fees or slick new platform features grab the headlines, when complicated issues arise, having a competent and engaged human being to talk to goes a long way. The traditional contact centre remains a critical service channel for direct brokerages.

DALBAR is pleased to award HSBC InvestDirect the 2018 Telephone Service Seal of Excellence. HSBC InvestDirect chose DALBAR to independently audit the quality of its contact centre interactions with direct brokerage investors. These interactions were evaluated throughout the year against detailed criteria covering all aspects of the customer experience. In order to qualify for […] Read more

Are Mortgage Stress Tests Putting the Economy at Risk?

Are Mortgage Stress Tests Putting the Economy at Risk?

For many Canadians in major markets such as Toronto or Vancouver, housing affordability is a hot button issue. In response to escalating house prices and levels of consumer lending, the Government of Canada in 2018 implemented the B-20 stress tests, which required banks to test a borrower’s ability to make mortgage payments at 200 basis points (2%) above their mortgage rate.

While there has been a noticeable slowdown in housing sales, there’s another sector of the lending ecosystem which has benefited greatly from the B-20 stress tests: private mortgage lenders.

According to data from the Bank of Canada in November 2018, private lenders in Toronto have seen an increase in the […] Read more

You Guys Spoke Up About Your Recent Poor Service Experiences!

You Guys Spoke Up About Your Recent Poor Service Experiences!

We asked everybody last week about their poor service experiences and you guys certainly voiced your opinions! Now we’d like to share some of those results with you…

A lot of people are not getting good food service! Restaurants, beverage/coffee shop, & fast food accounted for over a THIRD of all surveyed complaints. Other industries receiving a lot of complaints:

Financial services Grocery stores Big Box Retailers (e.g. Best Buy, Walmart)

Most encounters with poor service are in-person

Top three service complaints are:

Rudeness (53%) Slow service (41%) Product/service did not meet expectations (38%)

Clearly many organizations are not living up to your expectations of service!

We’d like to thank you for your honest feedback. […] Read more

Banks Miss Opportunities with Mass Affluent Newcomers to Canada

Banks Miss Opportunities with Mass Affluent Newcomers to Canada

(Toronto, ON. December 5, 2018) DALBAR Inc. announced the release of its 2018 Newcomers to Canada: Retail Branch Experience study. A follow-up to an earlier 2014 Newcomers study, this year’s study was undertaken to identify trends and best practices in retail branch experiences for Newcomers to Canada with mass affluent backgrounds. Seven Canadian banks were tested, BMO, CIBC, RBC, Scotiabank, TD, HSBC, and National Bank. Newcomers were required to open a chequing account and apply for a credit card, two important banking products to own upon arriving in Canada. DALBAR found no clear winners amongst the seven banks. Similar to the previous study, bank representatives remained reactive […] Read more

Studying Financial Services for Newcomers to Canada – 2018

Studying Financial Services for Newcomers to Canada – 2018

Having a healthy economy is key to the prosperity of any country. Immigration has historically been one of Canada’s important pathways to economic growth, and now, more than ever, it is a vital part of our continued development as a country.  For the financial services sector in general, and banking in particular, newcomers to Canada represent a strategic group with whom leading financial brands can gain market share.

Immigration last year accounted for two-thirds of Canada’s population growth of 1.2%. A large proportion of these newcomers were aged under 44, from mass affluent backgrounds, and predominantly from Asia, helping to boost […] Read more

DALBAR e-Delivery Benchmarks Study Highlights Challenges of Digitization for Financial Services Providers

DALBAR e-Delivery Benchmarks Study Highlights Challenges of Digitization for Financial Services Providers

As the financial services world continues down the road of digitization, one of the most challenging transitions that has arisen is in the realm of client or investor communications. Specifically, shifting from paper-based statements to an electronic format, known as e-Delivery, is proving to be an uphill journey for many financial service firms.

From account updates in the form of quarterly statements to transaction confirmations, tax documents, client correspondence and even annual reports and prospectuses, for individuals with investments, the “paper trail” can be extensive. For financial services firms, however, it can also be expensive.

The latest e-Delivery Benchmarks Study by DALBAR, […] Read more

Complacency Is Weakest Cybersecurity Link: Dalbar/ThinkAdvisor Study

Complacency Is Weakest Cybersecurity Link: Dalbar/ThinkAdvisor Study

Despite the increasing fear Americans have of personal and financial information being stolen, most financial-services firms have been complacent on updating or implementing state of the art — or even basic — cybersecurity technology, according to a recent study by Dalbar/ThinkAdvisor, “The State of Authentication in Financial Services.”

The most significant finding of the research is “generally how passive people are about the subject,” says Lou Harvey, president and CEO of Dalbar, a Boston-based independent financial-services market research firm.

“The more we’ve examined, the bigger the shock it is as [cybercrime] keeps growing. Look at the number of incidents,” he explained in an […] Read more