2023 ADVISORY SERVICE SURVEY
Credit Unions Continue to Give High Score to Advisors
To gauge satisfaction and help ensure quality service, Catalyst Strategic Solutions surveys its Advisory Service clients on an annual basis. The 2023 survey results have been calculated. The Advisory Service was awarded an overall Net Promoter Score (NPS) of 91.2.
The 2023 Advisory Service survey responses represent participation from credit unions across the United States. Survey participants included C-suite leaders, senior management and investment experts from client credit unions. Most respondents have had a business relationship with Catalyst's Advisory Service of four or more years.
Based on a five-point scale, clients gave the Advisory Service an overall rating of 4.9 (on a five-point scale) for 2023. This top score extended to four other service areas as well: depth/usefulness of correspondence, frequency of correspondence, balance sheet management recommendations, and investment portfolio management needs. The Advisors also received a perfect score of 5.0 for responsiveness to ad-hoc requests.
Furthermore, respondents rated the usefulness of Catalyst's investment accounting reports, newsletter and quarterly guidance at an average score of 4.7 (on a five-point scale).
Overwhelmingly positive comments were recorded for the Advisory team, recognizing their outstanding client service – with "Great," "Proactive" and "Strategic" standing out among the others.
“Catalyst Strategic Solutions is grateful for the feedback received from this year’s survey,” said Steven Houle, vice president and chief compliance officer of Catalyst Advisory Services. Houle added, “The Advisory team takes pride in helping credit unions achieve their strategic objectives through custom balance sheet solutions and integrated ALM guidance and looks forward to further serving its clients in the future.”
Collaborate with Catalyst Strategic Solutions’ Advisory team to evaluate and build your credit union’s 2024 investment portfolio roadmap.
NPS is calculated by subtracting the total weight of the lowest six ratings categories from the two highest ratings categories – an approach designed to convey the percent of respondents who are not just highly satisfied, but who would recommend Catalyst to their peers. The above ratings may not be representative of any one client's experience because the rating reflects a sample of the experiences of Catalyst clients. The ratings are not indicative of CSS' future performance. CSS created and conducted the survey, which was sent to all clients as of November 2023, of which 34 responded.