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New rules adopted by the Securities and Exchange Commission allow mutual fund companies to include customer satisfaction claims in their marketing messages. Previously, the SEC allowed only performance ratings to be touted in ads.
The change was engineered in large part by Dalbar, a 22-year-old securities research firm in Boston which developed a customer satisfaction rating system that was approved by the SEC this spring.
The Dalbar Rating gauges satisfaction with both specific investment advisors and mutual fund companies.
“[The ruling] opens up the world to a whole bunch of smaller funds and serves consumers well,” said Dalbar president and founder Louis Harvey.
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