IN THE NEWS

Investors Rely on 401(k) Providers the Most for Financial Advice

Ted Godbout, Dec 17, 2018

A study by Hearts & Wallets on retail investors finds that the use of paid investment professionals is growing as a source of advice for consumers even as technology use continues to increase. The report, “Advice & Technology: Beyond Traditional Market Models, Receptivity to Professional Advice and Mobile Payments Connection,” suggests that consumers are less likely to “go solo” in their decision-making for saving and investing, and are using multiple sources of advice and information….

Do You Take Venmo? Mobile Pay Poised to Disrupt Investment Industry: Report

Jackie Noblett, Dec 13, 2018

Mobile is fast becoming the preferred way for young people to consume financial information, and now threatens to upend how investors put their savings to work, according to a new report. For the first time since 2011, so-called “emerging career” investors — those between 21 and 27 years old — told Hearts & Wallets that they do more of their savings and investing activity via mobile device (68%) than on traditional computers (67%)....

Fewer Investors Want To Be On Their Own, Study Says

Karen DeMasters, Dec 11, 2018

The popularity of investment professionals is growing as fewer investors want to go it alone, according to Hearts & Wallets, a data resource and consulting firm based in Rye, N.Y....

Going Solo? Not When It Comes To Investment Advice

Dec 11, 2018

New research from Hearts & Wallets reveals fewer consumers checking of ‘myself’ as the primary source of information and advice; A significant decline....

BNY, Vestwell Partner to Take On Ascensus in State IRA Market

Emile Hallez, Dec 6, 2018

BNY Mellon is pursuing the state IRA market, and the firm recently made a deal with white-label plan provider Vestwell to handle the recordkeeping within a BNY-branded service...“Clearly they have a lot of really good pieces in place, both in terms of the solution they are describing as well as the distribution force to get it out into the marketplace,” says Laura Varas, principal of Hearts & Wallets, a Rye, N.Y.-based data and consulting firm.

Measuring The Value, And Costs, Of Financial Advice

Nov 14, 2018

The strong link between consumer understanding of what personal financial advice is and seeing value in paying for professional help is one of the top trends in consumer attitudes in 2018, as identified in the latest report by experts of Hearts & Wallets, the source for retail investor data and insights....

Study Identifies Retirement Planning Advice Gaps Advisers and Financial Firms Can Address

Rebecca Moore, Oct 29, 2018

Even when financial tasks are difficult, individuals often do not seek professional help, suggests a report from Hearts & Wallets. The report, “Pain Points & Actions: Insights to Address Large Advice Gaps by Reaching Consumers with Unmet Needs,” is an insight module drawn from the latest survey of the more than 46,000 U.S. households in the Hearts & Wallets Investor Quantitative Database....

Empower Developing Robo for Retail, Rollover

Emile Hallez, Nov 5, 2018

....“It’s a really positive development for consumers, because consumers have a strong preference to keep control of the money they’ve saved in their workplace plans when they are no longer at the employers,” says Laura Varas, principal of Hearts & Wallets….

Half of Workers Can't ID Retirement Target Date: Survey

Beagan Wilcox Volz, Oct 29, 2018

More than half of working Americans struggle to figure out the year they can target for retirement or what investments to pick. Yet only 9% of those who have a hard time determining a target date sought help, according to a recent Hearts & Wallets survey....

Scary financial tasks make most people run the other way

Jill Cornfield, Oct 18, 2018

Scary finances? Run away. That's the consensus of Americans surveyed in a report from Hearts & Wallets, which studies U.S. retail investors. The study uses data about consumer attitudes, behaviors and buying patterns of more than 5,400 U.S. households....

Consumers ‘More Confused Than Ever’ By Financial Planning

Susan Rupe, Oct 18, 2018

The vast majority of consumers who find a financial task difficult don’t seek help. This opens up a gap for financial advice, according to a report from Hearts & Wallets. The report,“Pain Points & Actions: Insights to Address Large Advice Gaps by Reaching Consumers with Unmet Needs,” reveals the most pressing pain points different groups of consumers face….

Scary financial tasks make most people run the other way

Jill Cornfield, Oct 18, 2018

Scary finances? Run away. That's the consensus of Americans surveyed in a report from Hearts & Wallets, which studies U.S. retail investors. The study uses data about consumer attitudes, behaviors and buying patterns of more than 5,400 U.S. households….

Hearts & Wallets: Narrow TDF vintages restricting sales

Noah Zuss, Oct 16, 2018

Asset managers need to provide guidance on target-date fund age ranges because some investors may be turned off by having to choose a specific retirement date, new Hearts & Wallets research finds. The study shows that 60% of those surveyed aren’t invested in a target-date fund because they're not currently....

Investors Don’t Seek Help With Difficult Financial Tasks: Study

Emily Zulz, Oct 16, 2018

The vast majority of consumers who find a financial task difficult don’t seek help, as seen in a new report from Hearts & Wallets. According to the report, that creates large advice gaps for tasks like planning for retirement, choosing investments and managing the finances of loved ones as they age....

Bridging the Big Advice Gaps

Oct 16, 2018

The vast majority of consumers who find a financial task difficult don’t seek help, creating large advice gaps, as seen in a new report from Hearts & Wallets, the source for retail investor data and insights….

Fidelity, Vanguard have greatest name recognition among consumers

Marlene Satter, Sep 18, 2018

“Helping consumers become more aware of product ownership can give them more control of their financial future, and really, increase their overall financial literacy,” says Laura Varas, CEO and founder of Hearts & Wallet.

1 in 5 Investors Can’t Name the Funds They Own: Report

Emily Zulz, Sep 18, 2018

One in five consumers can’t name the investment products they own or the firms behind them, according to new Hearts & Wallets research. A new report by Hearts & Wallets — Investment Products & Asset Managers: Building Product Relevancy Through Consumer Insights — analyzes consumer awareness and ownership of investment products along with awareness of asset allocation and asset managers….

Investments? One in Five Can’t Name Products Owned or Firms Behind Them

Sep 18, 2018

As consumers struggle with basic awareness about investment product ownership, Fidelity and Vanguard stand out for consumers who know the products they own and the firms who make them in a new report from Hearts & Wallets, the source for retail investor data and insights....

B of A Merrill, Fidelity Lead the Pack With 401(k) Rollovers: Survey

Emile Hallez, Aug 22, 2018

Two firms appear to be dominating rollovers — Bank of America Merrill Lynch and Fidelity — each with a share of transactions from a 2017 sample more than double that of the closest competitors. That is according to a report that became available this week from Hearts & Wallets, which added new survey data to its working database that tracks investor behaviors. The ongoing survey includes about 5,500 participants....

New Wealth, New Relationships Fuel Today's Money-Movement

Aug 21, 2018

(August 21, 2018, Rye, NY) – New money and new relationships are at the heart of money movement growth as younger and mass market households up their participation, according to a new report from Hearts & Wallets, the source for retail investor data and insights....

Too Much Focus On Liquidity Can Cost Wealthy Clients Big In Taxes

Jeff Stimson, Jul 30, 2018

Uncertainty about an imminent stock market plunge can make for jittery investors—and a desire for assets that can be tapped more easily…. More consumers are starting to recognize “the tension between tax deferral and [money] accessibility, and they are balancing liquidity choices on a spectrum of checking/savings, taxable brokerage and goal-specific savings accounts,” according to a recent Hearts & Wallets study.

What’s in a Name? Investors Say Not Much

Carmen Germaine, Jul 25, 2018

Investors largely don’t know who manages their funds, and view product providers as interchangeable, new research suggests. Many consumers couldn’t name a single asset manager when interviewed by Hearts & Wallets. And those who could consider them as essentially indistinguishable....

Fidelity and Vanguard top the charts for investor awareness

Noah Zuss, Jul 20, 2018

Fidelity Investments and Vanguard Group lead the way in new consumer brand awareness research, although a number of big fund groups appear to have a way to go in improving their brand presence among investors. A Hearts & Wallets study, published this week, reveals fund firms' “shareholder awareness score,” calculated as....

Adieu, Taboo: Friends Are Talking To Friends About Money

Karen DeMasters, Jul 19, 2018

It may no longer be a no-no to talk about money, according to Hearts & Wallets, an investor data source. Three out of four consumers ages 28 to 39 who were part of focus groups arranged by Hearts & Wallets said they talk finance with friends, which is an increase of 17 percentage points over the past five years. Half of consumers ages 40 to 52 said they talk finance with friends, an increase of 7 percentage points during the same time period....

How Friends Influence Investing

Jul 19, 2018

(July 19, 2018, Rye, NY) – Actionable insights into how Americans talk finance with friends can shape strategy to engage with today’s investors, as outlined in a new report from Hearts & Wallets, the source for retail investor data and insights. Accumulators 2018 Talking Finance with Friends: Disruptive Trends in Savings, Digital Advice and Asset Management examines how reliance on friends influences investment decisions....

Pre-Retirees More Concerned About Falling Short in Retirement

Ted Godbout, Jun 28, 2018

Pre-retirees worry more than retirees about not having enough income in retirement, changes in Social Security benefits and low interest rates, while retirees worry more about health care and staying active, new research shows…. A new report by Hearts & Wallets identifies often overlooked income streams for groups of future retirees and finds that retirees may be much more dependent on certain income in retirement than national averages indicate.

Looking for steady retirement income? There’s hope for a simpler, cheaper way

Rich Eisenberg, Jun 26, 2018

Many workers in their 50s and 60s worry about whether they’ll have enough savings for a comfortable retirement, of course, but they also have another big financial fear: How can they essentially re-create their paycheck so they can count on steady, reliable retirement income? A new initiative from a consortium of financial services companies — with the slogan Retire Your Risk — hopes to help address that concern…. A new retirement income study by Hearts & Wallets, a financial services research firm, noted that just 13% of retiree households are getting income from annuities, down from 15% in 2016.

'Quiet' Retirement Income Sources Screaming for Attention

Jill Gregorie, Jun 26, 2018

When it comes to retirement income, Americans tend to put all of their nest eggs in one basket.... Commonly cited national statistics about Americans’ reliance on Social Security and workplace savings mute the importance of taxable brokerage accounts, dividend income, real estate and other “quiet” sources of income for millions of people, according to Hearts & Wallets, a Rye, N.Y., research and consulting firm focused on retail investor decision making.

Major Discrepancy Between Retirement Income Expectations Versus Reality

Jessa Claeys, Jun 22, 2018

Not surprisingly, Americans have unrealistic expectations about how they will fund their retirement years, according to new research. But how unrealistic is shocking—future retirees are under the impression that withdrawals from their 401ks and other retirement accounts will be four times as large a source of income as they are likely to be. Hearts & Wallets’ Retirement & Funding: Building Informed Expectations About Sources of Income in Retirement details anticipated income generation and actual income replacement rates from a variety of sources….

Could This Reduce Our Retirement Income Anxiety?

Rich Eisenberg, Jun 19, 2018

...A new retirement income study by Hearts & Wallets, a financial services research firm, noted that just 13% of retiree households are getting income from annuities, down from 15% in 2016….

Brokerage Accounts, Dividends Critical Sources of Retirement Income

Lee Barney, Jun 19, 2018

A new Hearts & Wallets report, “Retirement & Funding: Building Informed Expectations About Sources of Income in Retirement,” found that for retirees with dividends, this represents 19% of their income. For retirees with $2 million or more in investable assets, this jumps to 34%. Future retirees expect dividends will generate 16% of their retirement income, and for the wealthiest future retirees, they say it will generate 27% of their income....

Surprises in Retirement Income: Overlooked and Coveted Nest Eggs

Jun 19, 2018

Surprises in retirement income sources range from oversized roles for dividends and taxable brokerage to extremely high expectations for retirement accounts in new findings from Hearts & Wallets, the source for retail investor data and insights....

Income Needs Will Force People To Work Into Retirement, Study Says

Karen DeMasters, Jun 19, 2018

More people are going to be working into their retirement years, according to a study released Tuesday by Hearts & Wallets, a source of investor data. Income from working makes up 8 percent of all retirement income, according to the data set used by Hearts & Wallets that included 40,000 people. Within a few years, 10 percent of all retirement income will be generated from retirees working, according to the answers from those respondents who are not yet retired….

Could This Reduce Our Retirement Income Anxiety?

Rich Eisenberg, Jun 19, 2018

Many workers in their 50s and 60s worry about whether they’ll have enough savings for a comfortable retirement, of course, but they also have another big financial fear: How can they essentially recreate their paycheck so they can count on steady, reliable retirement income?...A new retirement income study by Hearts & Wallets, a financial services research firm, noted that just 13 percent of retiree households are getting income from annuities, down from 15 percent in 2016….

Workers Divert 401(k) Savings to Brokerages, Banks: Report

Emile Hallez, May 21, 2018

People have increased their savings rates over the past five years, but they are becoming less enthusiastic about using retirement accounts and annuities. That is among findings of a recent report by Hearts & Wallets, which includes data from an ongoing survey of 5,500 people. While the average amount of total household assets allocated to annuities, IRAs, employer-sponsored retirement plans, college savings plans and bank accounts fell between 2012 and 2017, allocations to taxable brokerage accounts increased slightly....

Consumer Thirst for Liquidity Drives Account Growth and Creative Approaches to Real Estate

May 17, 2018

Retail investor thirst for liquidity is driving increases of certain account types as consumers weigh tradeoffs between tax-deferred investments versus readily accessible funds in a new report by Hearts & Wallets, the source for retail investor data and insights....

Consumers, Craving Liquidity, Save Less in Retirement Plans: Study

Emily Zulz, May 16, 2018

Investors are upping taxable accounts — and devoting less money to employer-sponsored retirement plans, according to new Hearts & Wallets research. A new report by Hearts & Wallets finds that retail investor have a thirst for liquidity that is driving increases of certain account types as consumers weigh tradeoffs between tax-deferred investments and readily accessible funds....

‘Thirst For Liquidity’ Hurting 401k Savings Rates

JOHN SULLIVAN, May 16, 2018

Deferred gratification or immediate satisfaction? Americans appear to choose the latter. Not exactly news to anyone following the saving rates of the nation’s consumers. Yet a new report from Hearts &Wallets finds a “thirst for liquidity is driving increases of certain account types as consumers weigh tradeoffs between tax-deferred investments versus readily accessible funds.”...

Retirement Scan

Margarida Correia, May 16, 2018

More savers are rejecting retirement accounts in favor of these investments -- Data from retail investors firm Hearts & Wallets show that the number of clients owning taxable brokerage accounts has increased 10 percentage points over the past five years, according to this article on MarketWatch. The number of clients with checking, saving and CD accounts also rose nine percentage points. However, ownership of employer-sponsored plans remained unchanged, with contributions dropping by five percentage points.

Americans Looking For Liquidity, Says Study

Karen DeMasters, May 16, 2018

Americans seem to want more liquidity and less money tied up in unreachable funds, said Hearts & Wallets in the study, "Income & Net Worth: Thirst for Liquidity and Other Actionable Surprises in Human Capital and Household Finance" released Wednesday. The report was derived from an analysis of data from 40,000 households....

An increasing number of savers are rejecting retirement accounts in favor of these investments

Alessandra Malito, May 15, 2018

More people are stashing their money in taxable accounts and less so in employer-sponsored retirement plans. Ownership of taxable brokerage accounts jumped 10 percentage points over the last five years, and checking, saving and CD accounts increased 9 percentage points, according to retail investor data firm Hearts & Wallets. Meanwhile, ownership rates remained the same for employer-sponsored plans like a 401(k), but consumers were contributing less — a total decline of 5 percentage points….

How to Keep Your Grown Children From Endangering Your Retirement

By Rodney Brooks, Apr 27, 2018

Your retirement finances can be a lot more fragile than you might think. A budget can be disrupted by many things, and some parents have a hard time dealing with one expense in particular: They can't say no to their grown children…. Baby boomers with financially independent adult children who don't support anyone else are twice as likely to be retired, according a survey of 5,500 U.S. households by the market research firm Hearts & Wallets. Only 21 percent of boomers who support adult children are fully retired, compared to 50 percent of boomers who don't support children or other extended family members….

Ameriprise Financial Earns Top Marks for Customer Service

Apr 24, 2018

MINNEAPOLIS--(BUSINESS WIRE)--Ameriprise Financial (NYSE: AMP) excels in customer service dimensions investors value most, according to data from research firm Hearts & Wallets’ 2018 Wants & Pricing report. The firm garnered “top performer” status in several areas that investors prioritize when working with a financial provider, including “explains things in understandable terms” and “understands me and shares my values”. Ameriprise also received top marks in “has defined, repeatable process for producing results”, and “knowledgeable, timely and tactical investment ideas”….

Ameriprise Financial Reports First Quarter 2018 Results

Apr 23, 2018

MINNEAPOLIS--(BUSINESS WIRE)--Apr 23, 2018--Ameriprise Financial, Inc. (NYSE: AMP) today reported first quarter 2018 net income of $594 million…. Ameriprise earned the Hearts & Wallets Top Performer™ designation for: understands me and shares my values; explains things in understandable terms; has defined, repeatable processes for producing results; and investment ideas that are knowledgeable, timely and tactical....

TIAA, Prudential Rank as Top Trusted in Workplace Plans, Report Says

Richard Bedard, Bradley Saacks, Apr 11, 2018

TIAA and Prudential are two of the most trusted names in workplace plans, according to a new study from Hearts & Wallets, an industry consulting firm....

Ed Jones, USAA Again Earn Top Scores in Trust: Report

Bradley Saacks, Apr 10, 2018

Trust in financial service is rebounding and the industry brands investors most trust are Edward Jones and USAA, according to a new study from industry consultancy Hearts & Wallets. The survey, which included responses from 5,000 investors across the country, found that two out of three customers that invest through Edward Jones or USAA “rate their trust high (9-10 on a 10-point scale).” That is up from 43% according to the results released last year and from 39% in 2013, as reported...

Hearts & Wallets: Investor trust on the rise

Noah Zuss, Apr 10, 2018

Consumer faith in fund distributors is improving, with USAA, Edward Jones, Fidelity Investments and Charles Schwab earning top ratings, according to a Hearts & Wallets report released April 9. The report, titled Stores & Success Metrics: Winning the “Hearts & Wallets” of Customers, shows that 80% had moderate to high trust...

Clients Rate Top Financial Services Firms in 6 Categories

Emily Zulz, Apr 10, 2018

Which financial firms do customers trust most? Which ones are they most likely to recommend? And with which firms do customers plan to invest more money? Research firm Hearts & Wallets answers those questions in a new report on success metrics across the financial services industry….

Most Trusted 401k Financial Firms

Jessa Claeys, Apr 9, 2018

USAA and Edward Jones are among the financial services firms that fare particularly well, according to a new report of consumer attitudes. What’s more, eight in 10 consumers either “moderately or highly” trust the investment, banking and retirement plan firms with which they do business, Hearts & Wallets finds….

How Do Consumers Rate Their Financial Services Companies?

Apr 9, 2018

(April 9, 2018, Rye, NY) – USAA and Edward Jones received high marks on trust from their customers, earning a Top Performer™ designation’, in a new report on success metrics across the financial services industry by Hearts & Wallets, the source for retail investor data and insights. The Stores & Success Metrics: Winning the “Hearts & Wallets” analyzed customer success metrics nationally for the top 26 investment, banking and retirement plan participant firms, or “stores,” for over 8,000 sets of customer ratings of different firms from over 5,000 investors….

Ameriprise Nabs $185M Advisor Team from Edward Jones

Apr 6, 2018

A team of Edward Jones financial advisors has jumped ship to Ameriprise Financial, InvestmentNews writes....Edward Jones and Ameriprise continue getting ranked as the top financial firms by U.S. households, according to the latest Hearts & Wallets survey....

The Financial Dreams and Worries of Americans

Apr 3, 2018

Building bigger emergency funds continues to grow in importance as the top goal of Americans, while health care has overtaken Social Security as the top consumer concern, with more Americans reporting health issues and thinking about how to save for health care. This is according to two research reports by Hearts & Wallets, the source for retail investor data and insights....

Report: U.S. Households Gaining In Investable Assets: The American Dream is alive and well

Jessa Claeys, Mar 16, 2018

Whether it’s still the Trump Bump, regulation rollback or increasing consumer sentiment overall, the good economic news keeps coming. The latest finds an increasing number of Americans are ‘moving on up‘ financially, according to a new market sizing report by Hearts & Wallets....

Drawing A Blueprint For Wealth

Mar 16, 2018

(Mar. 15, 2018, Rye, NY) – American families with the least and most investable assets made the greatest strides in the past four years in the annual market sizing report by Hearts & Wallets, the source for retail investor data and insights. The number of American households in the lowest asset group of under $50,000 in investable assets declined by 2.1 million, the only asset group to decrease in number of households during that timeframe, even as the total number of households nationally increased by 3.5 million. As for the wealthiest Americans, the number of $5 million-plus households increased by 50%, or 0.5 million, going from 0.9 million to 1.4 million during that same time period….

U.S. Household Assets On Rise, Report Says

Karen DeMasters, Mar 15, 2018

American households are continuing to improve financially, according to Hearts & Wallets, a data source on finances and investing. Fewer U.S. households are in the lowest asset group of under $50,000 in investable assets, according to a report released Thursday by the organization. This group declined by 2.1 million since 2013, dropping from 77.2 million to 75.1 million, even as the total number of U.S. households increased by 3.5 million to 126 million...

Savings Is Decreasing Number of Americans in Lowest Asset Group

Rebecca Moore, Mar 15, 2018

A report from Hearts & Wallets also reveals the market for existing income management tools for new retirees is 3.5 million households. A new market sizing report examines Americans at risk for disruption in the financial marketplace and reveals that families with the least and most assets made the biggest strides in household wealth in the past four years, according to Hearts & Wallets...

Report Reveals Savings Strategies and Products Needed

Rebecca Moore, Mar 15, 2018

A new market sizing report examines Americans at risk for disruption in the financial marketplace and reveals that families with the least and most assets made the biggest strides in household wealth in the past four years, according to Hearts & Wallets. The Hearts & Wallets report, “Portrait U.S. Household Wealth: Essential Building Blocks to Empower Fact-Based Strategy & Prioritization,” suggests there are fewer American households in the lowest asset group of less than $50,000 in investable assets....

Ameriprise, Ed Jones, USAA Get High Marks for Straight Talk With Investors

Beagan Wilcox Volz, Feb 28, 2018

Plain talk is increasingly important to a growing number of retail investors when they are assessing financial services providers, according to a recent survey. Of the more than 5,200 households that Hearts & Wallets surveyed last year, 56% said this attribute was very important in selecting a firm - up from just over half of households (52%) in 2016....

Overstock robo-adviser focuses on group others too often neglect

April Rudin, Feb 27, 2018

It's 2 a.m. and, half-awake, I'm shopping on Overstock.com. ..."Wow, look at that lamp on clearance. It's so reasonably priced; I have to buy it." Also added to cart. As I scroll to the bottom of the homepage, the words "FinanceHub" catch my eye.... First, let's talk about female investors. Financial advisers tend to ignore the investment needs of women - for example, they often only address the husband in a husband-wife pair....The State of Advice and Guidance 2017, a study conducted by the data and consulting firm Hearts & Wallets, found that only about half of financial advisers give retirement age recommendations to the non-breadwinning spouse….

What Do Consumers Want Most From Financial Services Firms?

Ted Godbout, Feb 20, 2018

"Understandability" and fee clarity tied for what consumers want most from their financial services firms, according to Hearts & Wallets' eighth annual customer satisfaction ratings. Based on more than 5,000 U.S. household ratings of top performers on everything from providing personal financial advice to offering online tools and research, "understandability" and clear and understandable fees were both cited by 56% of consumers nationally who said these factors are important to them for service dimension attributes....

Ameriprise, Edward Jones, Wells Fargo Advisors Ranked Top Personal FA Firms

Alex Padalka, Feb 15, 2018

U.S. households continue to rank Edward Jones and Ameriprise as the top financial firms across several categories for 2017, according to a Hearts & Wallets survey cited by ThinkAdvisor. But traditional advice firms may want to take a cue from banks and online brokerages when it comes to making their fees clear and understandable. Meanwhile, despite trouble at its parent company's retail banking unit, Wells Fargo Advisors was ranked along Ameriprise and Edward Jones as one of the top firms that offer personal financial advice, according to the survey of 5,000 American households asked to name their top two financial providers out of 23 top financial institutions, the publication writes....

USAA, Edward Jones, Ameriprise ranked most understandable by clients

Ryan W. Neal, Feb 13, 2018

Investors don't just want low prices, they want financial services they can understand. A new study by Hearts & Wallets, which asked more than 5,000 households to rate their top two financial providers on service and pricing, found a firm that "explains things in understandable terms" and has "clear and understandable fees" is more important than having low fees. And it's equally as important as charging "reasonable fees," the study said...

Clients Rate Top Financial Services Firms in 13 Categories

Emily Zulz, Feb 13, 2018

Customers want understandability and clear fees from their financial services providers, and they rate them accordingly Customers of top financial services performers reveal who they love in Hearts & Wallets’ annual national customer satisfaction rating report. More than 5,000 U.S. households rate their top two financial providers on service and pricing performance in the report, "Wants & Pricing: Helping Customers Purchase What They Want in Saving and Investing."

Edward Jones Tops In Customer Satisfaction, Again

Karen DeMasters, Feb 13, 2018

For the second year in a row, Edward Jones came out on top of other large financial services firms for customer satisfaction in a survey by the Hearts & Wallets research firm. According to the survey of 5,000 people, Edward Jones beat out other large firms on how it explains investing details to customers and knowing the customer, Hearts & Wallets said in its 8th annual customer satisfaction survey, "Wants & Pricing: Helping Customers Purchase What They Want in Saving and Investing."...

Who Do You Love? Customers of Financial Services Firms Reveal Top Performers That Win their Hearts

Feb 13, 2018

(Feb. 13, 2018, Rye, NY) - Customers of top financial services performers reveal who they love in the eighth annual Hearts & Wallets national customer satisfaction rating in a new report by Hearts & Wallets, the source for retail investor data and insights. Over 5,000 U.S. households rate their top two financial providers on service and pricing performance in the Wants & Pricing: Helping Customers Purchase What They Want in Saving and Investing report. The ratings cover 25 attributes for five key service dimensions and three pricing dimensions. The report focuses on top-level national annual satisfaction ratings for the top 23 providers, leading brokers, banks and retirement platforms cited most often by their customers….

Consumers’ Level of Investment Experience May Not Be What You Think

Ted Godbout, Jan 16, 2018

Whether consumers feel experienced is somewhat correlated to their level of investible assets, but not as strongly as one might assume, according to new research. In “Experience Divide: How Beliefs and Truths About Investing Experience Affect Loyalty and Attitudes to Active-Passive, HSAs, and Descriptions of Advice,” Hearts & Wallets found that 28% of households with between $500,000 and $2 million in assets consider themselves inexperienced investors....

Should You Customize Your Products Based On Investor Experience?

Kenny He, Jan 11, 2018

To counteract the rise of passive indexing and safer alternatives such as EFTs, mutual fund managers need to understand that the problem often isn't the product, but the investors. According to The Experience Divide, a survey conducted by Hearts & Wallets, inexperienced investors fundamentally have a different mindset from experienced investors and tend to be risk-averse, so the best solution would be to understand how to approach both inexperienced and experienced investors....

Advising the Wary & Inexperienced

Jan 11, 2018

The degree of perceived investing experience – independent from investable assets – influences consumer attitudes to active management, advice-seeking behaviors and loyalty to firms versus advisors. As such, it offers opportunities for firms with higher value-added services, that understand the concerns of less experienced, wary consumers, in a new report by to Hearts & Wallets, the source for retail investor data and insights. The “Experience Divide:” How Beliefs and Truths About Investing Experience Affect Loyalty and Attitudes to Active-Passive, HSAs, and Descriptions of Advice examines the variable of perceived investing experience, which is potentially a more important lens than traditional filters of wealth and attitudes toward advice....