So what do investors care about? A name brandcompany? A hip, young advisor? While companies and advisors may argue over which side inspires more client loyalty, both would be wrong.

Turns out, investors are loyal, above all else, to cold hard cash. Investment performance was the most important factor in determining overall investor satisfaction with a firm, although the individual advisor was the next most important factor, according to the J.D. Power and Associates 2008 Full Service Investor Satisfaction Survey.

In fact, investment performance accounted for 24% of overall investor satisfaction. That was followed by satisfaction with the investment advisor at 22%, according to the survey, published in late July.

Among full-service firms, Raymond James Financial topped the list with a score of 831 on a scale of 1,000 in investor satisfaction, with Edward Jones close on its heels in the number-two slot with a score of 806.

Rounding out the top five are UBS Financial Services, ranked third with 798 points overall; LPL Financial Services with 796 points; and Merrill Lynch with 787 points.

While investment returns are the most important consideration for investors, various wealth advisory companies emphasize different aspects of their service to deliver those returns.

At Raymond James, top executives say advisors taking the initiative to contact clients counts the most, while Edward Jones likes to conduct routine investor education seminars for its customers.

When skittish investors contact the financial advisors at Raymond James, having someone to talk to who is familiar with them and their investments goes a long way toward making investors feel at ease, says Chet Helck, president and chief operating officer at Raymond James Financial.

The contact works both ways, he says. Instead of simply waiting for clients to call in a panic, the St. Petersburg, Fla. company reaches out with client reviews and other information, saying: "'You need to read this or understand this,'" says Helck.

Indeed, that proactive communication strategy by Raymond James was reflected in the results of the survey. It did particularly well in contacting investors, according to J.D. Power.

James D. Weddle, managing partner at second-ranked St. Louis-based Edward Jones, says the company's routine seminars and twice-yearly events when financial advisors work on a Saturday go a long way toward reassuring jittery clients during slumping markets.

"It is easy to call clients when markets are up, [but] most important to call when markets are down," says Weddle.

Aside from investment performance and the individual advisor, the other categories in the study included commissions and fees, account setup/account offerings, convenience and account statements. "Regardless of economic conditions, advisors who succeed at managing the expectations of their investors can help mitigate some of the negative effects," according to a statement from David Lo, director of investment services at J.D. Power and Associates. Keeping investors informed about the health of their portfolios by conducting reviews and including performance information on customers' account statements could greatly influence investor satisfaction, he added.

Only two of the wirehouses managed to crack the top five slots of the rankings. Without identifying any particular banks, Weddle notes that for some investors, it is simply not fun to hear news of their banks taking massive writedowns during a bear market.

The survey also suggested that there is something to be said for working with an investment professional. Going it alone, a strategy that recently has gained some popularity and might save some fees, leaves investors less content in the long run, the survey found. Among the 12% of investors who reported that they did not work with a financial advisor or team, overall satisfaction was substantially lower compared with investors in other types of investment relationships.

While noting that advisors can improve investor satisfaction by maintaining periodic contact with investors, J.D. Power said it found that most investors categorized as either mass affluent or mass market understand that the level of investment assets often guides the frequency of contact with an advisor. Therefore, affluent investors, or those with $1 million or more in assets, should be contacted about four times a year. (The study actually calculated an ideal average of 4.1 times a year.) Mass affluent clients, those with between $100,000 and $999,999 in assets, should be contacted about two to three times a year (ideal average: 2.8). And mass market investors with $100,000 in investment assets should be contacted about one to two times a year (ideal average: 1.7).

Whatever the level of contact, Helck says, advisors should keep their clients focused on the basics of investing: diversification and allocation. He notes that Raymond James advisors often calm their clients with this message during volatile economic times: "'This is going to happen. At any given time, some [industries] are going to behave more admirably than others.'"