Performance Evaluation of Mutual Fund Services
What is the PEMFS Program?
The Performance Evaluation of Mutual Fund Services (PEMFS) program is an objective third party evaluation of the quality of service being provided by a mutual funds call center. PEMFS is the in-depth, external measure of the investor’s total experience with your firm compared to the total experience with your direct competitors and the entire mutual fund industry. Controlled and randomly sampled customer interactions are evaluated according to detailed criteria developed over 30 years specifically for the financial services sector. These criteria look at both the intangible aspects and transactional requirements of the customer service experience.
Program participants are provided with industry/audience specific benchmarks as well as the tools to prioritize and improve service delivery. Those firms attaining a high rating over the course of a year receive public recognition in the form of a Dalbar Service Award, the gold standard for financial services call centers.
What are the Benefits of PEMFS participation?
- An independent, expert third party evaluation of service quality
- Highlights strengths
- Identifies weaknesses and details actions for improvement
- Provides insight on competitor service quality
- Supports the training and coaching of staff
- Provides a framework for internal management
- Provides a basis for incentive compensation for service quality
- Public recognition for industry leading performers
What does the PEMFS Program include?
- A monthly Performance Overview Report including industry rankings
- A monthly Call Detail Report detailing each interaction evaluated
- Recordings of the calls evaluated during that period
- Two formal in-person presentation of data
- Participation at Dalbar’s Annual Service Quality Measurement Summit
- Additional optional components, such as testing in another language, alternative regional centres
- Public recognition in the form of:
- Dalbar’s Service Award (if specific benchmarks are exceeded)
- Key Honors Award (if specific benchmarks are met)
What is the Cost to participate?
Participation in the PEMFS Program costs
- $57,500 annually for the first component
- $45,000 – additional component (different language or alternative regional centres)
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