Ed Jones, Wells Fargo Lead on Fee Clarity, Unbiased Service

Hearts and Wallets featured in Ignites article

By Nick Godt

Investors rank Edward Jones and Wells Fargo Advisors as the top full-service broker-dealers in providing both clarity about fees and unbiased services for investors, according to research firm Hearts & Wallets.

Recently released results of a survey of over 5,000 participants show that the two firms, along with Scottrade, received top marks from 60% or more of their customers for making fees “clear and understandable.”…Read More (login required)

What Investors Know About Fees: Next To Nothing

Hearts & Wallets featured in Forbes, financial industry research

By Richard Eisenberg

You’ve probably seen the Charles Schwab commercial with a Millennial son asking his boomer dad how much his broker charges and the father says, “I dunno.” Turns out, U.S. investors are just as clueless as that dad about the fees they pay.

That’s the maddening finding from a new survey of more than 5,000 households by the financial research firm Hearts & Wallets. “It was dismaying to me how few people are aware of what they are paying,” said Laura Varas, founder and CEO of Hearts & Wallets… Read More

Most Americans Think Financial Products Are Free

planadviser features Hearts & Wallets, financial industry research

By Corie Hengst

And of those who think they pay for these products, many have no idea how much.

Most Americans believe they pay nothing for their financial products or have no idea what they pay, according to a study by Hearts & Wallets, “Wants & Pricing: What Investors Buy & Competitive Ratings.”

About one-third (31%) say don’t know what they pay for their financial products, an increase of four percentage point in one year. Less than one-third (28%) say for certain they are charged a fee by a retail financial “store,” which Hearts & Wallets defines as retail and defined contribution providers that work directly with investors. Of the 41% who say they pay their financial store “nothing” and instead pay through actual products, 72% say they pay nothing for the product… Read More