DALBAR Report Unveils the Top Brokerage Account Statements

MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR, Inc., the authority on financial services communications quality, released the results of its 26th annual review of account statements and revealed BNY Mellon’s Pershing, Merrill and Morgan Stanley as the firms to beat relative to brokerage account statements. 2023 shined as a year of account reporting excellence – each firm providing their customers with exceptional financial communications.

BNY Mellon’s Pershing takes top honors for brokerage statements for the 6th consecutive year in their ongoing quest to provide clear organization featuring robust holdings and client details.

Merrill, maintaining the number two spot among brokerage statements, excels at fee transparency and offers clients an upfront display of the top holdings in the account.

Morgan Stanley, holding on to its impressive #3 rank, outshines others with detailed disclosure throughout the statement, simple but direct investment objective information and a comprehensive holdings section.

These three firms continue to demonstrate their commitment to communications that empower clients to understand, view and effectively manage their investments.

This year’s review found QR code use on the rise with many firms employing them to drive online registration and e-delivery. The synergy between statements and the digital experience is expanding as more firms leverage QR codes and URLs to direct clients to account access platforms.

DALBAR’s Trends & Best Practices in Investor Statements is an annual publication ranking statements across brokerage, mutual fund, retirement, and variable annuity accounts, analyzing both the level of detail offered and the overall presentation of account information.

DALBAR, Inc. has a 48-year history and is recognized by the industry and regulatory bodies as an independent third-party expert in the business of providing audits, evaluations, ratings, and due diligence certifications.


Emily Kunka