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When the financial tempest rages as it did in 2009, client service can often be the deciding factor in asset retention. Some firms muddle through alright, while others set a new standard. The best in class can expect to be recognized by financial services strategy and operations research firm Dalbar.

The consultancy recently announced the winners of its 2009 Mutual Fund Service Award, with BMO Mutual Funds and Franklin Templeton Investments sharing the top spot for English language service.

BMO stood alone at the top for French language service, with Franklin Templeton placing second.

Both firms are past winners of the awards.

Dalbar also announced RBC Direct Investing as the winner of its 2009 Discount Brokerage Service Award, for the third year in a row.

“Earning our award in any given year is a challenge in itself but to do so after the year that we all faced was definitely no easy feat” says Anita Lo, practice leader, Dalbar Canada. “This past year, front line service representatives were expected to demonstrate more depth to their knowledge, respond faster to inquiries, and empathize with greater sincerity, so I applaud these three firms for protecting their track record as a result of their unwavering commitment to service excellence.”

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TD Private Trust offers senior care service

Let’s face it, if affluent Canadians probably can’t be bothered to keep track their own cable bill, let alone that of an aging parent. When one’s net worth gets high enough, small bills really do become a nuisance. That’s the assumption behind TD Waterhouse’s new Financial Care and Management service.

Available to the firm’s Private Trust clients, the service will take care of tedious day-to-day financial matters. The service goes beyond the client alone, however, and will provide services to their family members.

This will be of particular interest to members of the “sandwich” generation, who are not only looking after their children, but their aging parents as well.

“With the growing demographic trend of people being responsible for more family members for a longer period of time, we believe this enhanced service will be of great value to many clients, as it will provide convenience and help ensure peace of mind,” said Sandra Recine, vice-president, TD Waterhouse Private Trust.

According to Statistics Canada, roughly 2.7 million people are providing unpaid care for seniors. The new service offers not only cash flow management, but also tax preparation advice, and investment management. It can also provide healthcare and eldercare-related referrals.

(01/08/10)