DALBAR Launches 1998 Program for Financial Professionals.

BOSTON--(BUSINESS WIRE)--June 11, 1998--DALBAR, Inc. today officially launched the 1998 Program for Financial Professionals, a program designed to help consumers locate, evaluate and select financial professionals with whom to work. The Program also enables those financial professionals, ranging from general practitioners such as financial planners to specialists including fee-based advisers, investment managers, insurance agents, bankers, stockbrokers, accountants and attorneys, who do a good job for their clients to differentiate themselves in the marketplace.

The Program launch begins just weeks after the staff of the SEC issued a no-action letter that will enable financial professionals to advertise the results of their participation in the Program. The effort also comes after DALBAR's Executive Committee, which was formed to shape the 1998 Program, finalized the Program's details.

"The 1998 Program focuses heavily on helping financial professionals serve their clients more effectively," said Louis S. Harvey, president and founder of DALBAR, Inc., the Boston-based research firm.

The Program will follow SEC guidelines, which among other things states that financial professionals will pay a uniform fee. The 1998 Program defines financial professionals in six categories: financial planner, investment adviser, insurance agent, banker, income tax specialist, and attorney.

The Program will provide participants with a practice diagnostic, and for those who qualify, a Certificate with the DALBAR Seal for Financial Professionals and the opportunity to be among those financial professionals whose names will be published in a directory online at and in hardcopy. To qualify, financial professionals must exceed the national averages in the respective categories measured - trust, satisfaction, investment performance and advice overall.

Additional reports that enable financial professionals to market their results or learn how to improve their practice are also available. One, a Performance Report, which details the results of an adviser who participates in the program in accordance with the SEC guidelines, is available for additional $250. And a Practice Analysis and Recommendation Report, which speaks to issues of practice management and business development, is also available for additional $250.

Financial professionals who wish to participate in the 1998 Program must apply by September 1, 1998. Additional details can be found on DALBAR's web site (www.dalbar.com), or advisers without access to the Internet are advised to call 617-723-6400 to request a Program prospectus.

Several firms, many of which are represented on the Program's Executive Committee, including American Express Financial Advisers; LPL Financial Services; Mutual of New York; and W.S. Griffith & Co. have already agreed to participate in the 1998 Program for Financial Professionals. Others, including Bill Good Marketing, a firm that represents 800 of the nation's top stockbrokers, have also agreed to support the program.

"At its core, the Program provides Financial Professionals with four major opportunities," said Harvey.

-- Client Feedback. An understanding of the financial professional's client base that will help professional improve their practice and retain clients.

-- Differentiation through The DALBAR Seal. Financial professionals who meet the SEC guidelines receive the exclusive right to advertise client testimonials in the form of DALBAR ratings of trust, performance, satisfaction, advice overall, and thus differentiate themselves in the marketplace.

-- New Business. Publicity and promotion of the DALBAR Directory of Financial Professionals will provide new business leads from consumers who are eager to do business with financial professionals who have received the first and only client-awarded credential.

-- Benchmarking. The ability to chart and monitor progress against other types of financial professionals as well as over time, and the ability to create client-focused reward and recognition systems.

"Ultimately, we hope to help all financial professionals improve the value and quality of what is delivered to clients," said Mr. Harvey.

Mr. Harvey also noted that a major beneficiary of this program is the consumer whose need for advice is present and growing. "We want to provide consumers with a useful tool," he said. "A tool that embraces and enhances current efforts that help consumers find financial professionals that are right for them."

DALBAR, which was founded in 1976 and today has offices in Boston and Toronto, specializes in customer-focused research in the financial services industry.

CONTACT: DALBAR, Inc.

Paul DiCesare, 617-723-6400