Real estate investor and manager, Cromwell Property Group (Cromwell)(ASX:CMW), recently partnered with leading independent research house, Investment Trends, for the 2019 Investment Product and Advice Needs Survey (Survey).
The Survey engaged Australian high net worth investors1 to gauge their attitude towards the 2020 investment landscape and asked Cromwell’s securityholders for their feedback on the company.
Securityholders who responded to the Survey have indicated high levels of confidence with both the Board of Directors and Senior Management Team. Respondents were asked to rate their confidence on a scale of zero to ten, with ten representing ‘extremely confident’ and zero representing ‘not confident at all’.
Pleasingly, more than four in five respondents [83%] showed high or very high levels of confidence in Cromwell’s Board of Directors, as led by Chair Geoff Levy AO, scoring the Board either a seven, eight, nine or ten out of ten. Even more respondents, 87%, scored Cromwell’s Senior Management Team, as led by CEO Paul Weightman in a similar fashion.
Cromwell’s net promoter score, a proxy for gauging customers overall satisfaction with the company and calculated by subtracting the percentage of detractors from the percentage of promoters, was +28%. This is substantially higher than the industry average which languished at -25%.
Cromwell CEO Paul Weightman said, “We are exceptionally pleased that securityholders have shown a high degree of confidence in the wider Cromwell team.”
“Trust is hard-earned, and we are always very conscious of doing the right thing by all of our securityholders, equally. The results show the confidence that they have in our Board and Management team, and are a validation of our strategy, performance and activities,” he concluded.
Relative to other investment managers, Cromwell’s trustworthiness, investment excellence, customer focus and strong communications were also highly valued by respondents.
1. Defined as someone with more than $1 million of investable assets, defined as assets which they control excluding their own home, own business, and retail superannuation funds, but including Self-Managed Super Fund (SMSF) assets.