IN THE NEWS

Social Security 'bridge,' 100% equities? How to make money last in retirement.

Richard Eisenberg, Dec 14, 2022

A recent Hearts & Wallets study of retail investors found that inflation was their number one concern....

Invest without a pro? How to DIY with Fidelity, Robinhood ...

Holly Rosenkrantz, Dec 1, 2022

To be sure, do-it-yourself investors are not completely on their own, says Laura Varas, CEO of Hearts & Wallets, a financial analysis firm....

Most Americans Value Retirement Planning, Fewer Than Half Appear to Do It

ALEX ORTOLANI, Nov 28, 2022

The research highlights the disconnect between what people say about retirement planning and how much they actually save and plan....

AARP Finds Major Gap Between Retirement Goals and Preparedness

Alex Ortolani, Nov 23, 2022

Recent research provided to PLANADVISER by consultancy Hearts & Wallets found that more than half (53%) of Americans who rely on their workplace retirement plan as their primary financial resource do not sign up for more than the most basic self-service assistance....

Shops to Bulk Up Active ETF, Interval Fund Lines

Nicole Jan, Nov 22, 2022

Shops are rolling out active ETFs to tap into the growing demand for individual stocks, said Laura Varas, chief executive of Hearts & Wallets....

Bitcoin in your 401(k)?Senators intensify pressure on Fidelity to reconsider crypto in retirement plans

Jessica Hall, Nov 21, 2022

The move came after the number of investors dabbling in cryptocurrencies had grown substantially, with 22% of households using crypto in 2021, up from 8% in 2020, according to research firm Hearts & Wallets....

Survey reveals consumer attitudes toward saving and investing

Ayo Mseka, Nov 21, 2022

A new survey by Hearts & Wallets has found thanearly half of its respondents are very concerned about inflation, and a third of those respondents are holding more than 90% of their investable assets in cash....

53% of Savers Who Rely on Workplace Plans Don’t Work with Advisers

Alex Ortolani, Nov 15, 2022

U.S. consumers have a growing appetite for professional financial advice, but more than half of people relying on their employer-sponsored plan don’t go beyond self-service options, according to Hearts & Wallets.

Understanding The Retail Investor Mindset And Business Opportunities During Times Of High Inflation

Nov 15, 2022

New research report by Hearts & Wallets reveals more Americans agree their financial advisor is a partner: Ameriprise, Edward Jones top performing firms on this attribute.

13 Scary Retirement Statistics to Read in the Dark

John Manganaro, Oct 25, 2022

According to the Hearts & Wallets research, written plans support better financial habits and more positive outcomes...

Shops Must Make Brand Pop During Market Slowdown

Brian Ponte, Oct 17, 2022

Investors have also in recent years become less likely to be able to identify asset managers and define what they do, said Laura Varas, chief executive at Hearts & Wallets....

Risk and Control Wells Fargo’s ‘Top Priority’

Sam Del Rowe, Oct 17, 2022

The wirehouse appears to be well on its way to rebuilding its reputation, Hearts & Wallets research indicates....

2 out of 3 millennials, Gen Xers turn to employers for investment advice

Willa Hart, Oct 13, 2022

Use of employer-sponsored programs has increased to almost half (49%) of all households, up from 39% in 2010, says report....

Participant Data is Key to Developing Better Financial Wellness Programs

DJ Shaw, Oct 4, 2022

Participants are sharing more personal data about themselves and are more likely to turn to financial professionals above other sources....

Millennials, Gen X More Likely to Turn to Employers for Investment Advice

Ted Godbout, Oct 3, 2022

According to Hearts & Wallets’ “Advice & Technology: Opportunities for Hybrid Models, Workplace Resources and Differentiation Among Financial Professionals,” the use of employer-sponsored programs for investment information and advice has increased to 49% of households, up from 39% in 2010....

Research finds DIY investors continue to rely on financial professionals

Ayo Mseka, Oct 3, 2022

While an increasing number of Americans rely on multiple sources of information and advice to make investment decisions, 20% of households cite some kind of financial professional as their primary source....

Key Influences on Investor Decisions

Sep 30, 2022

Most Americans say they are do-it-yourself investors, but 60% of DIYers also use financial professionals....

Do-it-Yourselfers Still Look To Financial Professionals

Sep 29, 2022

Most Americans say they are do-it-yourself investors, but 60% of DIYers also use financial professionals, according to a new research report by Hearts & Wallets....

How To Retire During A Bear Market

Taylor Tepper, Sep 27, 2022

A recent Hearts & Wallets survey found that people who wrote out a financial plan had more money, better diversification and a higher degree of confidence in their retirement....

Study examines how financial advisors can help clients weather market volatility

Ayo Mseka, Sep 26, 2022

As financial advisors work with their investment clients, they may want to consider the types of investments that could help calm nerves, said Laura Varas, CEO and founder of Hearts & Wallets....

Fidelity to Consolidate Robos

Nicole Jan, Sep 22, 2022

Fidelity Investments will fold its Personalized Planning and Advice hybrid robo-advisor into its Fidelity Go platform...

Financial Planning Helps Recordkeepers Stand Out

Brian Ponte, Jul 26, 2022

Roughly 49% of U.S. households have access to advice through their employer-sponsored retirement plans, said Laura Varas, chief executive of Hearts and Wallets....

Call Centers Brace for Complex Questions

Sonya Swink, Jul 13, 2022

Investors who allocate less than a quarter of their portfolios to mutual funds tend to be less concerned about the way managers handle volatility than those who pile more money into the products, according to research from data firm Hearts & Wallets....

Why financial adviser Ric Edelman says crypto belongs in your 401(k)

Rich Eisenberg, May 11, 2022

A study by the Hearts and Wallets research firm said only 6% of boomer households use crypto for trading, payments or both....

Americans Spread Their Money Across More Firms, Survey Finds

Ayo Mseka, May 9, 2022

According to a recent survey by Hearts & Wallets, nearly half (42%) of American households with $500,000 to under $2 million have four or more financial relationships, up from 36% of households in 2020.

Money decisions by women will shape the future for the U.S.

Ted Jenkin, May 3, 2022

Nearly 9 in 10 women who are married or live with a partner said they are involved in spending and investing decisions in their household, up from just 42% in 2012, according to a recent report from Hearts & Wallets....

Colorado, New Mexico Tap Vestwell for Auto-IRAs

Ben Miller, May 3, 2022

The first multi-state auto-IRA program has enlisted Vestwell to provide recordkeeping, custodial and other services to employers and workers across the two states, the firm announced last week....

Fidelity’s Bitcoin Launch Plan Rebuked by DOL

Noah Zuss, Apr 29, 2022

“Fidelity [is] showing leadership by introducing a product that will help consumers do what they’re already doing, potentially more safely,” Varas said....

'Sea Change' in Demand Preempted Fidelity Bitcoin Offering

Brian Ponte, Apr 27, 2022

By granting plan participants access to the cryptocurrency through their retirement accounts, Fidelity is providing impacted retirement savers with a safer way to “do what they were going to do anyway,” said Laura Varas, Hearts & Wallets’ chief executive....

Cryptocurrency in 401(k)s: Fidelity takes the leap, but do workers understand both benefits and risks?

C.J. Marwitz, Apr 27, 2022

This product will help consumers do something they will already plan to do – but it will help them do it more safely, set in the context of a responsible portfolio....

Bitcoin in your 401(k)? Fidelity just introduced it as an option – when it makes sense, and when it doesn’t

Alessandra Malito, Apr 26, 2022

Crypto use represents about 25 million households, according to research firm Hearts & Wallets....

Can bitcoin in 401(k)s fuel prudent investing?

Lynnley Browning, Apr 26, 2022

“Consumers are trading crypto now in a risky way that we’re concerned about,” Varas said. “Fidelity is enabling consumers to do something that they’re already doing, and in a more responsible way.”...

Advisers cautiously upbeat about crypto 401(k) investing with Fidelity imprimatur

Mark Schoeff Jr., Apr 26, 2022

A survey by Hearts & Wallets found that 25 million U.S. households, or 22% of those with assets, held cryptocurrencies in 2021....

Fidelity to Offer Bitcoin in 401ks

Brian Anderson, Apr 26, 2022

"The good news is this offering helps to engage younger consumers in 401k plans,” said Laura Varas, CEO of Hearts & Wallets...

Crypto, Fractional Shares And Securities-Based Credit Lines Go Mainstream

Ayo Mseka, Apr 21, 2022

Three innovative financial offerings – cryptocurrency, fractional stock shares and securities-based lines of credit (SBLOCs) – are going mainstream, with penetrations in the double digits among U.S. households, especially among younger investors....

Many Investors Unaware of Risks of Crypto, Fractional Shares

Alex Padalka, Apr 20, 2022

While 22% of U.S. households held crypto in 2021, only 28% of those that trade it for its volatility were “very comfortable” with risk in their investments, according to Hearts & Wallets....

Trust in Financial Services Firms Highest in Over a Decade

Ted Godbout, Apr 15, 2022

Consumer trust in saving, investing and advice relationships is at its highest level since 2010, according to a new report by Hearts & Wallets....

Morgan Stanley, Edward Jones Get Top Marks in Customer Trust

Alex Padalka, Apr 14, 2022

Trust in financial services firms overall is at its highest in more than a decade, according to Hearts & Wallets....

Firms Winning American Consumer's Trust And Wallets

Apr 14, 2022

Morgan Stanley and Edward Jones Hearts & Wallets top performers on high trust; research identifies market leaders in asset share and other success metrics....

Vanguard, American Express Team Up for New Service

Brian Ponte, Apr 13, 2022

The new service will offer American Express U.S. card holders access to a financial advisor, as well as rewards from the credit card company....

Here’s the Robo-Advisor That These Personal Finance Experts Swear By

Dori Zinn, Mar 31, 2022

Today, about 8% of U.S. households use robo-advisors to invest, according to research by the data and analytics firm Hearts & Wallets....

How Do PayPal and Venmo's New Crypto Fees Stack Up?

Javier Simon, Mar 25, 2022

Cryptocurrency use almost tripled in the past year, with nearly 1 in 4 U.S. households (22%) using crypto in 2021, versus 8% in 2020, according to new research from market research firm Hearts & Wallets...

Enter Crypto, Securities Lending & Fractional Shares

Mar 24, 2022

New research from Hearts & Wallets reveals younger investors are the generations most into crypto, fractional stock shares and securities-backed lines of credit (SBLOCs), but many of these same investors say they are risk averse....

Keeping the Sandwich Generation on Track for Retirement

Sean Allocca, Mar 22, 2022

The Hearts & Wallets report, released in January, conveyed just how large the need for managing the finances of aging loved ones is in the U.S., and showed how issues are compounded for wealthier households that have additional assets and more complex estate planning problems.

Retirement planning advice we’re not getting from financial advisers

Richard Eisenberg, Mar 17, 2022

Advice experience benchmarking from the Hearts & Wallets financial services research firm has found big gaps between what preretirees and retirees want from financial advisers and what they’re getting.

Financial Planning Isn't Just For The Wealthy

Lazetta Rainey Braxton, Mar 4, 2022

Consider this finding from a recent study by the financial services research firm Hearts & Wallets: "By generation, Gen X exhibits the highest anxiety with concerns about 'making ends meet this year and inflation.'"...

Shops Turn to TikTok to Build Brand

Brian Ponte, Mar 4, 2022

When asset managers are dependent on distributors as their main channel, they are subject to being able to be “switched out really easily,” Laura Varas said.

Investors to Shops: We Want Better Digital Disclosures

Brian Ponte, Feb 16, 2022

Customers sorely lack personalized communications, and advisors must think beyond recommending products to investors, said Laura Varas, CEO of Hearts and Wallets....

Roses, Chocolates And … A Financial Plan? Couples Love Security: Study

Ayo Mseka, Feb 14, 2022

This Valentine’s Day, singles seeking happily ever after should gift themselves a written financial plan--something they are about half as likely to do as couples—in order to receive a saving boost and other benefits....

Financial Situation Changed Due to COVID? Professional Advice Can Help

Brad Hearn, Feb 13, 2022

Americans are struggling with key decisions on investments and estate planning strategies, according to a recent Hearts & Wallets report....

Having a Written Financial Plan Improves Savings and Asset Allocation

Rebecca Moore, Feb 8, 2022

The tangible benefits for employees of a having a written financial plan are clear, according to a Hearts & Wallets survey of 5,794 U.S. households....

Only One-Third of Households Report Having a Written Financial Plan

Rebecca Moore, Feb 8, 2022

Research found written plans are associated with higher savings and bigger emergency funds.

Timely Tips For Filing Your 2021 Tax Return

Rich Eisenberg, Jan 28, 2022

A new study by the Hearts & Wallets financial services research firm found that the biggest money management topic pre-retirees said they needed advice on was developing a strategy for withdrawing income from their different accounts....

Franklin Launches First Global Ad Campaign Since Legg Buy

Brian Ponte, Jan 19, 2022

“With the theme of progress, Franklin Templeton has identified a key touchpoint that subtly underscores the reality that financial wellness and wealth are built in small, incremental steps, and the entire world is yearning to move past Covid,” Laura Varas, chief executive of Hearts and Wallets, said....

'They Shouldn't Feel Alone': Many Investors Struggle With the Emotional Rollercoaster of Market Volatility

Mallika Mitra, Jan 14, 2022

Handling market volatility emotionally is among Americans' biggest financial advice gaps — meaning, they struggle with it but don't ask anyone for guidance — according to a new report from market research firm Hearts & Wallets....

For Gen X, financial planning is more accessible—and important than ever

Lazetta Rainey Braxton, Jan 14, 2022

Those who believe they don’t have enough in assets or income to qualify for financial planning services should know there’s been a lot of changes in the industry....

People Want to Start Spending Again and Inflation Is Ruining It

Veronica Dagher, Jan 13, 2022

Frustration appears to be higher among Americans who say Covid-19 changed their attitudes toward money, according to a 2021 survey by research firm Hearts & Wallets.

Study: Americans Emerge From Pandemic In Need Of Financial Advice

Ayo Mseka, Jan 13, 2022

In a recent Hearts & Wallets research report, Americans reported that their top five biggest financial-advice gaps are: handling market volatility emotionally, choosing appropriate investments, estimating required minimum withdrawals (RMDs), making buy/sell decisions on investments, and estate planning....

Filling Today's Advice Gaps

Jan 13, 2022

A new research report by Hearts & Wallets analyzes consumer difficulty with 28 financial tasks, the behavior of seeking help and advice gaps....

Where financial wellness falls short

Emile Hallez, Jan 12, 2022

“Many plans still don’t address questions about health care in retirement, the impact of divorce and the question of real estate, and other important financial questions,” Laura Varas, CEO of consumer research firm Hearts & Wallets, said...

More Americans Seeking Help with Financial Tasks

Ted Godbout, Jan 11, 2022

A new report finds that more U.S. households are seeking help for multiple financial tasks, with growth being driven by households with $100,000 to $500,000 in assets....