IN THE NEWS

Findings From Direct Indexing Focus Groups

Duncan MacDonald-Korth, Dec 28, 2023

Hearts & Wallets conducted a focus group in 3 cities across the US with investors to get their thoughts on the emerging strategy....

Millennial investors most comfortable with market volatility, study shows

Ayo Mseka, Dec 19, 2023

Americans are at their peak in feeling experienced with investing, and for the first time, millennials are emerging as the generation that is the most comfortable with market volatility, according to a Hearts & Wallets study on consumer attitudinal trends for 2024....

Millennials now most confident investors at dealing with market volatility

Steve Randall, Dec 15, 2023

Almost half of millennials (46%) who took part in the Heart & Wallets survey said they are comfortable with market volatility, beating boomers (24%)....

7 Key Attitudinal Trends For Investing In 2024

Dec 15, 2023

The latest Hearts & Wallets research report, Attitudes & Sentiment 2023: Driving Corporate Strategy in Response to Changing Consumer Needs, features newly released findings on consumer attitudes, sentiment, concerns and goals toward saving and investing.

Saver Receptivity to Financial Advice Reaches 10-Year High

Natalie Lin, Dec 12, 2023

Americans are more accepting of their responsibility to save for retirement and receptivity to financial advice is at a record high, according to new Hearts & Wallets research summarized in “Attitudes & Sentiment 2023: Driving Corporate Strategy in Response to Changing Consumer Needs.”...

How having kids can make clients richer

Emile Hallez, Nov 29, 2023

Among people with children, the percentage of those saving 6% to 9% of their income is more than double that of those without kids, according to data Hearts & Wallets collected last year.

Consumers like these wealth apps best

Emile Hallez, Nov 21, 2023

“So many online tools give very strange outputs and very strange advice,” Varas said. “The kind of variance in recommendations that households get when they’re using [different] online tools is ghastly.”

Together we are closing the economic gender gap

Laura MacNeil, Nov 20, 2023

A study by Hearts & Wallets, a consumer research firm, found nearly 9 in 10 women who are married or live with a partner are involved in spending and investing decisions in their household.....

AI Pulls Up A Chair At The Thanksgiving Table

Jack Sharry, Nov 16, 2023

Varas' firm helps financial services companies analyze the capabilities they can deliver and align them to the investors they want to serve....

Exchange-traded funds are among the top 3 investment products that got more popular from 2020, survey finds

Ana Teresa Solá, Nov 13, 2023

Exchange-traded funds came in third among the top 10 investment products to grow in popularity with U.S. households from 2020 to 2022, according to a new survey....

SMAs top growth among investment products, survey finds

Ayo Mseka, Nov 7, 2023

In the past two years, separately managed accounts (SMAs) have experienced more growth than other investment product types, while mutual funds are stagnant, according to the recent Hearts &Wallets’ Investment Products & Asset Managers 2023 report....

Vanguard Hybrid Robo Tacks on Advice Platform Fee

Alyson Velati, Nov 3, 2023

“It’s smart that Vanguard is starting to quote pricing in absolute dollar terms,” Varas said.

SMAs outpace mutual funds for wealthier clients, report shows

Emile Hallez, Oct 26, 2023

Interest in separately managed accounts goes along with greater use of taxable accounts, according to Hearts & Wallets.

How Financial Planning Tech Can Help You Maximize Every Dollar

Rose Palazzo, Oct 26, 2023

According to a Hearts & Wallets survey from last year, 82% of consumers think about their financial goals, but only 54% of them actually have some sort of plan....

Managed Accounts See Highest Growth While TDRFs Sit Still

Amanda Umpierrez, Oct 26, 2023

Managed account and cryptocurrency use grows while investments in target-date retirement funds falls flat, reports Hearts & Wallets.

Separately Managed Accounts Grow, Mutual Funds Stagnate, And The Board-Level Competitive Imperative For Asset Managers

Oct 26, 2023

A new Hearts & Wallets research of 5,993 U.S. households analyzes product ownership trends of relevance to advisors and also finds a dramatic closing of the decade-long product awareness gap for investors.

SMAs' Popularity Beat ETFs Last Year, Survey Says

Gabe Alpert, Oct 25, 2023

Some 22% of the nearly 6,000 U.S. households surveyed held SMAs in 2022, compared with 18% who owned ETFs. That’s up from 13% and 16% in 2020, respectively.....

SMAs' Popularity Beat ETFs Last Year, Survey Says

Gabe Alpert, Oct 25, 2023

A larger percentage of U.S. investors owned separately managed accounts than exchange-traded funds in 2022, while mutual funds continued to lose market share, according to a report from Hearts & Wallets, an independent research firm....

What’s behind financial planning renaissance?

Emile Hallez, Oct 23, 2023

“Consumers definitely want help that goes beyond investment selection,” said Laura Varas, CEO of consumer research firm Hearts & Wallets....

House bill to double HSA limits slammed as perk for wealthy

Emile Hallez, Oct 3, 2023

As of 2022, about 14% of U.S. households that reported having any investible assets had an HSA, according to data from Hearts & Wallets. Having such an account correlated with income and assets, however....

Report examines pros, cons of direct indexing

Ayo Mseka, Sep 28, 2023

Qualitative research by Hearts &Wallets is shedding new light on individual-investor reactions to direct indexing in order to inform product and innovation strategies....

70 Trillion Dollar Wealth Transfer: Opportunities and Challenges for Millennials

Nirav Shah, Sep 28, 2023

A 2022 survey by Hearts & Wallets found that out of nearly 6,000 households surveyed, 60% had planned to receive or leave an inheritance such as cash, investments, and property....

The Race To Win Wealth In The Workplace

Jack Sharry, Sep 25, 2023

The race for workplace assets is on....It’s a dramatic and welcome turnaround in wealth management and the workplace.....

Confusion Around Direct Indexing

Julia Horti, Sep 22, 2023

According to a recent report from Hearts & Wallets, a wealth management research firm, most investors remain unfamiliar with the concept of direct indexing...

Direct Indexing Tax Benefits Trump Personalization for Some

Brian Ponte, Sep 19, 2023

A recent series of focus groups conducted by Hearts & Wallets found that mass-affluent investors are drawn to tax efficiencies far more than the customization options.

Direct indexing name needs a makeover, report finds

Josh Welsh, Sep 19, 2023

Hearts & Wallets study highlights confusion around the term and the customization strategy.

How to Overcome Your Fear and Enjoy Retirement

Sandra Block, Sep 6, 2023

A survey by Hearts & Wallets, a research firm, found that nearly 20% of respondents between 65 and 74 with investment assets of between $2 million and $5 million were still working....

Not just for rich people: 6 ways we're messing up inheritances

Richard Eisenberg, Aug 23, 2023

Retirement is a great time to start essential conversations about wealth transfers and to begin "giving while living."...

5 Personal Finance Questions to Ask Yourself Now

Beth Braverman, Aug 23, 2023

Those who have a written financial plan have more savings and better-allocated investment portfolios – and they feel more confident about their finances, according to research from Hearts & Wallets....

6 ways we’re doing inheritances wrong

Richard Eisenberg, Aug 23, 2023

“Everybody seems to think inheritances are something for rich people,” says Laura Varas, chief executive of Hearts & Wallets, a financial-services research firm that recently released a fascinating study about wealth transfer in the U.S. But in fact, she notes, “inheritances are a mass-market thing.”...

How to increase investor share of wallet

Ayo Mseka, Aug 21, 2023

As consumers’ use of multiple investment firms has reached a decade-long high, recent research examines how financial services firms can increase their investor share of wallet....

Nerd's Eye View: Weekend Reading For Financial Planners (August 19-20)

Adam Van Deusen, CFP, Aug 18, 2023

And notably, while most advisors typically claim that their clients have consolidated all of their assets with them, a recent study by research and benchmarking firm Hearts & Wallets found that 64% of U.S. households have 2-plus saving and investing relationships...

Target-Date ETFs Could Ease Transition Out of 401(k)s

Beagan Wilcox Volz, Aug 17, 2023

Consumer desire for a more modern “brokerage environment” for retirement accounts, with access to the best products available, for example, ETFs, rather than mutual funds, means that target-date ETFs could eventually find a place in defined contribution retirement plans, Varas said....

Millionaire clients are less likely to invest more with current firm, report reveals

Steve Randall, Aug 11, 2023

The financial services industry has never been so competitive and even as the population grows wealthier, it’s becoming harder for wealth advisors and firms to grow their share of wallet....

Ways To Increase Share Of Wallet As Consumers Spread Assets Across More Firms

Aug 10, 2023

New research identifies key ways financial services firms can increase share of wallet even as customer use of multiple firms is at its highest in a decade, Hearts & Wallets new research of 5,993 U.S. households finds....

How to approach retirement planning for $2M-plus wealth market

Ayo Mseka, Jul 10, 2023

Growth in taxable assets over the past five years has been faster than it has been in retirement assets for U.S. households due to an increasing concentration of wealth, according to a recent survey....

Investors favoring taxable accounts over IRAs, 401(k)s

Emile Hallez, Jun 29, 2023

As wealthier clients approach retirement, advisors must focus on income strategies, Hearts & Wallets says....

Ages 55-Plus Control Three Quarters Of U.S. Investable Assets, But Assets Aren’t Main Driver For Retirement

Jun 28, 2023

Hearts & Wallets new market sizing research offers insight into how to approach retirement with older clients and the wealth market of $2-million-plus....

Decision of when to retire has little to do with how much you’ve saved for retirement, report finds

Ana Teresa Solá, Jun 28, 2023

U.S. households over the age of 55 control 74% of investable assets, but their retirement status has little to do with their asset levels, according to a new report from Hearts & Wallets....

The Great Wealth Transfer: How Baby Boomers Are Passing on Trillions to Heirs

Andrew Lisa, Jun 24, 2023

The research and benchmarking firm Hearts & Wallets surveyed nearly 6,000 households and found that in 2022, 60% had received, planned to receive or planned to leave inheritances like property...

Ameriprise Financial Named a Top Performer™ in Hearts & Wallets Customer Satisfaction Survey for the Fifth Time

Jun 14, 2023

Ameriprise Financial (NYSE: AMP) today announced that it received high scores in the 2023 Wants & Pricing customer satisfaction survey conducted by Hearts & Wallets, an independent research and benchmarking firm that specializes in financial advice....

Before hiring a financial planner, catch them off-guard with smart questions that extract revealing answers

Morey Stettner, Jun 13, 2023

“One way to drive trust is to ask about a product that the adviser doesn’t sell and evaluate the quality of the answer,” said Laura Varas, founder and chief executive of Hearts & Wallets, an independent data and benchmarking firm in Rye, N.Y....

Should I Pay a Financial Adviser an Assets Under Management Fee?

Pam Krueger, Jun 8, 2023

The majority of individual investors (60%) say “clear and understandable” fees rank as the highest priority when choosing financial institutions to work with, according to a recent poll by the research firm Hearts & Wallets....

Vanguard Bumps Up Account Services Fees, Minimums

Nicole Jay, Jun 5, 2023

Vanguard has increased the account fees for both brokerage and mutual fund-only accounts....

Americans Tapping More Sources to Make Investment Decisions

Ted Godbout, May 23, 2023

More consumers are multi-sourcing their investment decisions, with financial professionals being most influential, but reliance on online and employer resources is also increasing, according to a new research report.

Financial Professionals Gain Ground With DIY Investors, Report Says

May 22, 2023

Many do-it-yourself investors are turning to financial professionals and other sources for advice because their approach of going it alone isn’t cutting it, according to a report by research and benchmarking firm Hearts & Wallets....

Investment Decisions Today: Financial professionals are most influential, with online and employer sources becoming more important

May 17, 2023

More consumers today are multi-sourcing their investment decisions, with financial professionals being most influential and reliance on online and employer resources increasing, according to a new research report by Hearts & Wallets....

The Great Wealth Transfer: How Baby Boomers Are Passing on Trillions to Heirs

Andrew Lisa, May 2, 2023

The research and benchmarking firm Hearts & Wallets surveyed nearly 6,000 households and found that in 2022, 60% had received, planned to receive or planned to leave inheritances...

Why Financial Literacy Programs Fail

Knut A. Rostad, Apr 24, 2023

Research firm Hearts & Wallets specializes in saving, investing and financial advice research. Its report, Financial Wellness Behaviors that Build Wealth, confirmed this....

Has the Switch to DC Plans Led to Larger Wealth Transfer Opportunities?

Ted Godbout, Apr 23, 2023

A new study contends that there is a growing opportunity for wealth transfers...

Increasing number of U.S. households prioritizing wealth transfer

Ayo Mseka, Apr 20, 2023

Nearly two thirds of U.S. households are now involved in intergenerational wealth transfer, with growth seen in both wealthy households and lower-asset households....

Demand for robos might be cooling, but many are still interested in them, despite a lack of understanding.

Emile Hallez, Apr 14, 2023

Data from Hearts & Wallets show that only 10% of customers understand “very well” how robo-only firms earn money....

More Americans Are Leaving Inheritances — and It’s Not Just Wealthy People

Mary Ellen Cagnassola, Apr 12, 2023

More everyday Americans are thinking about building generational wealth, not just the rich, according to new data...

Has the Switch to DC Plans Led to Larger Wealth Transfer Opportunities?

Ted Godbout, Apr 12, 2023

Hearts & Wallets’ research finds that nearly two-thirds of U.S. households are now involved in the growing transfer of intergenerational wealth...

Rise in inheritances lifting wealth management business, study shows

Gregg Greenberg, Apr 12, 2023

In what could be a major boon for the wealth management industry, a new report from Hearts & Wallets shows inheritances are no longer reserved for the wealthy....

The Growing Opportunity For Wealth Transfer; Not Only For The Wealthy

Apr 12, 2023

A new report from Hearts & Wallets reveals nearly two thirds of U.S. households are now involved in the growing transfer of intergenerational wealth....

More Americans Are Leaving Inheritances

Mary Ellen Cagnassola, Apr 12, 2023

Hearts & Wallets’ research shows that inheritances are now expanding beyond those belonging to high-net-worth households....

Merrill Retirement Platform to Stop Adding Plans

Nicole Jao, Mar 31, 2023

Merrill Lynch’s digital retirement advice program Advice Access will soon stop accepting new plans....

‘Clear fees’ cited as most important for financial services firms

Ayo Mseka, Mar 28, 2023

Americans cite “clear and understandable fees” as the No. 1 thing they want from financial services firms, with a higher importance placed on pricing considerations than at any time since 2010....

Investing isn’t free. But here’s why 20% of investors think it is

Greg Iacurci, Mar 25, 2023

One-fifth of consumers think their investment services are free of cost, according to a recent Hearts & Wallets survey of about 6,000 U.S. households....

Clients rank clear fees over investment gains, survey shows

Tobias Salinger, Mar 24, 2023

Investors and savers rate transparent costs as their top priority when choosing where to conduct their financial business, a new study showed....

Merrill Retirement Platform to Stop Adding Plans

Nicole Jao, Mar 23, 2023

“Bank of America is making more of the Merrill capabilities available to the broader customer base,” said Laura Varas, founder and chief executive of Hearts & Wallets....

Columbia Threadneedle Plans to Slash Fees on Target-Dates

Nicole Jao, Mar 14, 2023

“It looks like a sensible product maintenance to make things more efficient and keep the funds on waivers so they can continue to attract assets,” said Laura Varas, founder and CEO of Hearts & Wallets....

Accumulating Healthy Financial Wellness Behaviors

Mar 2, 2023

Over one third of U.S. households save $5,000 annually. Liquid accounts favored according to new research from Hearts & Wallets....

5 financial wellness behaviors that help build wealth

Ayo Mseka, Feb 28, 2023

U.S. households that adopt five financial wellness behaviors build more wealth than other households, according to a research report by Hearts & Wallets, which has been tracking these behaviors....

Financial Wellness Helps Boost Household Savings

Steff Chalk, Feb 23, 2023

Financial wellness has a positive impact on household savings rates, according to new research from Hearts & Wallets....

5 Steps Toward Financial Wellness

Ted Godbout, Feb 23, 2023

American households that adopt some or all of five key financial wellness behaviors are more likely to be saving more and better positioned for building wealth, but “retirement savings” is one of the most difficult behaviors to adopt, according to the findings of a new report....

5 Key Wealth-Building Financial Wellness Behaviors, and Providers Helping 401(k) Participants Follow Them

Brian Anderson, Feb 22, 2023

New Hearts & Wallets research finds households that adopt these behaviors save much more than other households....

Retirement Saving Hardest Financial Habit for Homes to Adopt

Alex Ortolani, Feb 22, 2023

Among the five financial behaviors that build wealth, retirement savings is last on the list, according to a report released Wednesday by Hearts & Wallets....

More Savers Stick with Recordkeeper for IRA Rollovers

Reagan Wilcox Volz, Jan 24, 2023

More retirement savers than ever are selecting the recordkeeper of their employer’s retirement plan as the destination for IRA rollovers, rather than an outside firm, Hearts & Wallets research shows....

Robinhood Taps Verge Co-Founder to Run New Media Unit

David Isenberg, Jan 18, 2023

Robinhood awareness is “sky high” among users, said Laura Varas, founder and CEO of Hearts & Wallets....

What's in a Name? How to Handle Client Communication After a Broker-Dealer Rebranding

Sam Del Rowe, Jan 13, 2023

Brand awareness is a challenge in the industry, with client recognition of the industry’s biggest names hovering around 50%, according to data from Hearts & Wallets....

Simplification is top reason that investors move retirement assets

Gregg Greenberg, Jan 11, 2023

According to a report from financial research firm Hearts & Wallets, the leading motivator for one-third of investors to shift their money is “to simplify my finances.”...

IRA Rollover Money Slipping Past Advisors Fast

Jan 10, 2023

Rollover IRA sales are slipping through advisors' fingers faster than ever before as recordkeepers retain a growing proportion of retirement accounts in house after retirement plan participants leave their employers, according to a recent report....

Study looks at top reasons consumers move investment dollars

Ayo Mseka, Jan 9, 2023

Consolidation is the most frequently offered reason for money movement transactions today, said Laura Varas, CEO and founder of Hearts &Wallets....

Report: (More) Rollovers Remain with Recordkeepers

Jan 6, 2023

The top motivator for an investor to move money is “to simplify my finances”—from rollovers, transfer of assets (TOAs) to funding new accounts with new deposits according to Hearts & Wallets....

Recordkeepers Beat Out External Managers for IRA Rollovers

Alex Ortolani, Jan 5, 2023

The tug of war over who will manage the assets of hundreds of billions of retirement saving rollovers has seen at least a symbolic shift toward recordkeepers and away from external IRA providers, according to research released Thursday....

Mass-affluent households miss out on liquidity of taxable accounts, study finds

Ayo Mseka, Jan 2, 2023

Most mass-affluent households with $250,000 to $1 million in investable assets are missing out on taxable accounts and resulting liquidity, unlike households under age 35, according to a new research report by Hearts & Wallets....