This marks NYLIM's fifth consecutive Dalbar service award, which recognizes companies' ability to serve their clients via telephone and written communiqués. This year, New York Life beat out 11 finalists in the category, according to Kathleen Whalen, a spokeswoman for Dalbar.
"We are pleased to be recognized by Dalbar as one of the top service providers in the industry," said Chris Blunt, executive vice president of New York Life Investment Management, in a statement. "The award demonstrates NYLIM's commitment to providing exceptional service to our shareholders," he said.
As of Nov. 30, 2005, Parsippany, N.J.-based New York Life Investment Management had $198 billion in assets under management.
Over the past 25 years, Dalbar has provided research, rankings and best-practice guidelines for the mutual fund industry, focusing on intangibles such as client communication, customer services and investor behavior.