A new study by J.D. Powers and Associates found that self-directed investors' overall satisfaction with their investment firm has improved from 2011, but satisfaction with trading charges and fees has decreased for the second year in a row.

The J.D. Powers and Associates 2012 U.S. Self-Directed Investor Satisfaction Study measures customer satisfaction with investment firms based on their performance in account information, account offerings, information resources, interaction, problem resolution, and trading charges and fees.

Non-trading fees were the main source of dissatisfaction in this year’s survey. It found that satisfaction averages 723 (on a 1,000-point scale) when investors do not pay a non-trading charge, compared with 613 when they are aware of maintenance fees and 628 when they are aware of inactivity fees. Overall, satisfaction with trading charges and fees is 697, down from 703 in 2011.