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Digging into the Customer Experience: Brokerage, Online and OffBrokerage is Corporate Insight’s original areas of expertise, dating back to the introduction of Broker Monitor and e-Monitor in the 1990s. Our value-added brokerage and online services research digs deeply to identify and assess specific aspects of the customer experience.
|Tax Statement Analysis|
In this Broker Monitor Report, we present our first-ever tax statement analysis. We used a combination of retail and sample statements to gain broad knowledge of brokerage industry tax statements, then used our proprietary Benchmarking Audit software in order to rank each statement in a number of categories, including design and content.
In this Broker Monitor Report, we present our first-ever analysis of brokerage tax statements. We provide a review of each statement and rank them in different areas of design and content using our proprietary Benchmarking Audit. We examined the design of each statement, grading its flexibility, navigation and presentation. We reviewed the content included in statements, such as the broker and firm information, gain/loss and cost basis reporting, and whether firms provided more than IRS-required data. We also noted other features including dedicated tax help and if statements are environmentally conscious.
In order to conduct the report, we reached out to our industry contacts to obtain sample statements to broaden the scope of our review. We were able to view certain client-specific features not necessarily present on our retail account tax statements.
Since Broker Monitor firms represent a broad cross-section of the entire industry, we group firms into one of two classifications – full-service and self-directed. Within this framework, full service firms ranked higher as a group in our analysis. Self-directed firms ranked lower in general, but results were mixed, as one of the top three firms in the report is a self-directed brokerage.
Additional Key Findings: