Going Beyond Generation: Research Reveals Who’s Saving the Most and Why Within Gen Y and Gen X

The Three “Saver Personalities” for Generations Y and X

(Rye, NY) – A new Gen Y and Gen X behavioral segmentation study reveals who’s accumulating the most assets, three distinct behavioral “saver personalities,” and how the financial services industry can help each group achieve their financial goals, according to Hearts & Wallets, the preeminent financial research platform for consumer savings and investing insights.

Hearts & Wallets latest topical brief, Going Beyond Generation to Understand Young Investors: How Adoption of the Peak Accumulator Behaviors Leads to More Confident, Loyal and Profitable Customers, is based on the firm’s ongoing qualitative, quantitative, market sizing and competitive intelligence analysis. Findings are drawn from the Hearts & Wallets Investor Quant (IQ) research platform, the deepest and broadest single dataset on retail investor buying patterns and U.S. family finances. Read More→

Wake-Up Call for Investment Product Managers

Consumer Awareness Decline Continues; Similar Trend in Defined Contribution Space

(Rye, NY) – New research reveals financial services product manufacturers continue to suffer declines in brand awareness among consumers and decreased power compared to distributors in retail and the defined contribution space. Even so, new value-added products structured to meet consumer goals offer the potential to reclaim some balance as identified by Hearts & Wallets, the preeminent financial research platform for consumer savings and investing insights.

Hearts & Wallets latest study shows continuing low product awareness across all lifestages as awareness of distributor-provided asset allocation increases. This trend is yet another sign of how product manager attentiveness to distributor needs, while ignoring consumers, has allowed retail financial distributors to gain the upper hand in satisfying the needs of the ultimate decision-makers – consumers. Read More→

Two-Timing Your Broker? Join the Crowd


The relationship between many investors and their brokers isn’t monogamous.

Investors who work with a full-service brokerage often work with a lower-cost provider as well, according to data from research firm Hearts & Wallets.

Forty-seven percent of Merrill Lynch’s full-service brokerage customers also use a self-service firm—most commonly Fidelity Investments, Charles Schwab SCHW +1.23% or Vanguard Group—according to Hearts & Wallets’ database and annual survey of 5,500 households. The figures are 41% at Morgan Stanley MS +0.30%, 36% at Wells Fargo’s Wells Fargo Advisors and 30% at Edward Jones, the research firm says. Read more…