Catalyst News

Advisory Service Receives Record-High Rating in 2019 Survey

by Catalyst Corporate | Jan 07, 2020

In an effort to gauge satisfaction and ensure quality of service, Catalyst Strategic Solutions surveys its Advisory Service clients on an annual basis. Each year, the results continue to improve, with this year’s rating reaching a record high. The 2019 survey results have been calculated, and the Advisory Service was awarded an overall Net Promoter Score (NPS) of 96.4 – an almost seven-point increase from 2018 (89.5).

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 be most likely to go out of their way to recommend CSS to their peers.

Based on a five-point scale, clients gave the Advisory Service an overall rating of 5.0 – a perfect score for 2019. CSS Advisors also received perfect scores across the board, with an average rating of 5.0 (on a five-point scale) in each of the following areas of service: frequency of correspondence, depth/usefulness of correspondence, responsiveness to ad-hoc requests and investment portfolio management needs.

Additionally, respondents rated the quality of CSS investment accounting reports at 4.8 and the responsiveness of investment settlement and safekeeping at 4.8 on a five-point scale.

The survey was sent to approximately 90 Advisory Service clients in November 2019. A total of 28 responses was received, resulting in a response rate of about 31 percent. The vast majority of respondents (88 percent) indicated a business relationship with the Advisory Service of three or more years.  

Catalyst Strategic Solutions is grateful for the amount of overwhelmingly positive feedback received from this year’s survey. 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.