SOURCE: DALBAR, Inc.

December 21, 2011 11:13 ET

Prudential Retirement Earns DALBAR 2011 Retirement Plan Service Award

BOSTON, MA--(Marketwire - Dec 21, 2011) - DALBAR announced today the 2011 winners of its annual Retirement Plan Service Award. Prudential Retirement was the only firm in the retirement plan industry to emerge as a leader in customer service in 2011.

For over two decades, DALBAR has conducted rigorous testing of service delivery and, each year identifies those firms that were found to be above their peers in service to plan participants after a full year of comprehensive evaluation.

Important service attributes that dramatically and clearly differentiate Prudential Retirement from the industry at large include:

  • When Prudential Retirement call center representatives engage plan participant in conversation, they demonstrate a high level of professionalism, respect and appreciation for the relationship more than 97% of the time. This compares to an industry average of 57%.

  • 50% of the industry fails to talk about fees. Prudential Retirement ensures that if there is a fee or a sales charge associated with a transaction, the plan participant is fully informed. This eliminates the element of surprise and/or gives them the opportunity to decide whether they want to execute the transaction.

"In 2012, for the first time, seventy two million people will get reporting that will clearly outline any fees associated with their retirement plan. Prudential Retirement is a leader in understanding the critical nature of proactively keeping their clients informed," said Kathleen Whalen, Managing Director at DALBAR.

The Retirement Plan Service Award is based on systematic testing of customer service throughout the year. DALBAR conducts thousands of tests to measure how financial companies respond to the need for service from their customers. Companies that exceed a variety of industry benchmarks after one year of testing earn the DALBAR Retirement Plan Service Award.

DALBAR, Inc., the nation's leading financial services market research and consulting firm, is committed to raising the standards of excellence in the financial services industry. With offices in both the US and Canada, DALBAR develops standards for, and provides research, ratings, and rankings of intangible factors to the mutual fund, broker/dealer, life insurance, property and casualty, and managed account industries. Measurements include investor behavior, customer satisfaction, service quality, communications, Internet services, and financial professional ratings.

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