"Hearts & Wallets continues to turn out some of the more insightful industry research with their new study on the Drivers of Share of Wallet"
-- Gavin Spitzner, President, Wealth Consulting Partners, LLC.
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Hearts & Wallets is a market research and benchmarking firm dedicated to the financial services industry. Our independent reports and advanced analytics bridge the gap between consumer behavior and the complexity of saving, investing and advice.
NEW REPORT: Attitudes & Sentiment
Strategies to Engage Investors in the Pandemic-Inspired Financial Awakening
This report pulls from the new 2021 data on consumer attitudes towards saving, investing and advice. Investor sentiment is now at the highest level in a decade! Overall, people feel more positive about their finances despite concerns over inflation, the U.S. deficit and taxes. There is a renewed focus on investment goals, an increased interest in paying for professional financial advice and knowing which asset managers are managing their money.
REPORT: Drivers of Share of Wallet
The Primacy Premium and the Connection to Retirement Advice
Capturing more of your customers' investable assets is often easier and less expensive than acquiring new customers. This report explores the drivers of "share of wallet" (SOW) and which customers are most likely to express their loyalty by doing more business with you. The bottom line - investor trust, understanding how a firm makes money, being the main source of retirement advice, and serving as a "primary" store, all influence a customers decision to invest more. We also report on which firms have the highest share of wallet and what is the benchmark.
Join the dialogue on how Americans can respond financially to COVID-19.
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What Are You Interested In?
At Hearts & Wallets, we believe the key to earning the right to manage more of people’s money is understanding what consumers want. These are the areas we track. Which are you interested in?
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Testimonials
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In the News
Focusing solely on keeping money in a bank account or retirement plan is a kind of “binary thinking” that misses a larger picture, said Laura Varas, founder and chief executive officer of Hearts and Wallets...
In this podcast, Laura Varas of Hearts & Wallets joins Sean Allocca of InvestmentNews to discuss how large cash positions can deprive clients of potential gains from the market, and how many clients don’t understand the mechanisms.
The best way for a financial services firm to grow customer share of wallet is to be the main source of retirement advice to its clients....
Bank of America is doing well with younger clients, Hearts and Wallets says. The company has a relationship with 33% of households under the age of 45 this year, up from 23% in 2020....
The financial services firms that people identified as their main source of retirement advice tended to be those with the biggest 'share of wallet,' consumer research firm Hearts & Wallets found....
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