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Leo Almazora, May 20, 2025

Family caregivers face money setbacks and more: Edward Jones

A recent survey by Hearts & Wallets showed that among households with at least $3 million in investable assets, those aged 21 to 50 bore the heaviest burden from financial caregiving, fulfilling at least three of the nine financial caregiving responsibilities that Hearts & Wallets tracks....
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May 16, 2025

Financial Caregiving: A Big Need With Little Current Support

A new report from Hearts & Wallets reveals 62.8 million U.S. households who control $38.2T in investable assets are willing to pay for help with financial caregiving tasks today.
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Steve Randall, May 15, 2025

Financial caregiving is a challenge that more advisors need to address

The number of American households with financial caregiving responsibilities is growing and is increasingly impacting younger, affluent cohorts....
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Griffin Kelly, May 15, 2025

Who Wants to Live to 100? Not Most Americans

More than half of financial caregivers are open to paying for professional help managing an aging loved one’s finances....
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Alex Ortolani, May 15, 2025

Rising Demand for Financial Caregiving Amid Advice Shortage

Financial services firms are teeming with clients who need help dealing with aging parents, but many advisors may not have the focus or proper tools to provide that help, according to a study released Thursday by research and benchmarking firm Hearts & Wallets....
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Steve Randall, May 12, 2025

Americans are moving money, but where, and why

An new report from Hearts & Wallets shared that an estimated $800 billion was moved in rollovers in 2024....
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Sean Teehan, Apr 25, 2025

Look No Further: More 401(k) Savers Pick IRA from Recordkeeper

Millions more American households moved retirement assets last year than five years prior, and their top motivating factor was simplifying finances by reducing the number of institutions they deal with, a new study by Hearts & Wallets found....
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Steve Randall, Apr 25, 2025

More Americans are moving money, but who, why, and where?

A new report from Hearts & Wallets published today (April 25) reveals that an estimated $800 billion was moved in rollovers in 2024, but transfer of assets and new deposits together totaled $1.3 trillion....
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Apr 24, 2025

Q1 2025 Ameriprise Financial Inc Earnings Call

Ameriprise recently earned the 2025 Hearts & Wallets Top Performer™ recognition for “Understands me and shares my values” and “Unbiased, puts my interests first....
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Griffin Kelly, Apr 15, 2025

Is the Great Wealth Transfer Really All That Great?

“The wealth transfer is a mirage right now,” said Hearts & Wallets CEO Laura Varas. Her research firm predicted just $17.5 trillion will be transferred over the next 20 years, based on data gathered in 2023. “It's very compelling and seductive. There is a watering hole, but it doesn't look exactly like how people are making it out to be.”...
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Judy Faust Hartnett, Apr 4, 2025

Financial Professional Usage Increasing, Digital Advice Leveling Off

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Ayo Mseka, Mar 27, 2025

Political turmoil outstrips inflation as Americans’ top financial worry

While more than 4 in 10 Americans surveyed named inflation as a major economic concern, the U.S. political environment topped inflation as their top financial worry....
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Steve Randall, Mar 26, 2025

Clients want more advice on savings, but are you giving them enough?

Americans are seeking guidance on how to save or invest their cash but often feel that there is a lack of support from most financial advice channels....
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Ayo Mseka, Mar 3, 2025

Does your investor client know how much they pay in fees?

In a recent survey on investor fees by Hearts & Wallets, customers reported that they are paying for nearly half of their primary and secondary saving and investing relationships, but four out of ten don’t know how they pay in at least some of their paid relationships.
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Feb 17, 2025

What Customers Want And The Firms Customers Love

A new report by Hearts & Wallets examines the importance of consumer wants, customer satisfaction and customer-reported pricing.
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Gregg Greenberg, Feb 13, 2025

Proactivity is key to client satisfaction, and it's lagging, survey says

Financial advisory clients increasingly want “proactivity,” according to a new study. In other words, they want their wealth managers to anticipate their needs in advance....
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Jack Sharry, Feb 4, 2025

Friend Or Foe? No One Cares Anymore

Competitive pressures are intense. A recent market intelligence report from Hearts & Wallets found that U.S. households cut the number of retail financial services firms they use for the first time since 2013....
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Jan 20, 2025

Americans Cut Financial Firms Used; Average Share Of Wallet Increases

U.S. households cut their number of financial services firms for the first time since 2013 with consolidation highest among wealthier households, according to new Hearts & Wallets research of nearly 6,000 U.S. households.
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Leo Almazora, Jan 16, 2025

Financial firms' war for wallet share intensifies with households cutting ties

As everyday Americans reduce their savings and investing relationships for the first time in over a decade, financial firms must work harder to maintain loyalty and trust among their customers....
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Griffin Kelly, Jan 2, 2025

Financial Advisors’ Delicate Dance to Court Retail Investors

“We can’t be cobblers, making bespoke shoes for everybody,” said Laura Varas, Hearts & Wallets CEO. “You’ve got to have some service models where you can say: This is the price for this amount of advice.”....
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Ayo Mseka, Dec 27, 2024

Americans’ saving, investment product savvy improves, study finds

American consumers are more knowledgeable about their saving and investment products than at any other time in the past decade, according to a new market intelligence report by Hearts & Wallets....
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Ayo Mseka, Dec 20, 2024

How is consumers’ investing confidence impacting the need for advisors?

Consumer feelings of being experienced in investing are at their highest peak since 2010, even as long-term warming trends in receptivity toward paying for advice are seen....
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Diego Perez Morales, Dec 18, 2024

Rethinking Retirement

In a landscape where financial confidence is on the rise, nearly half of U.S. households, about 48%, express disagreement with the notion that their employer should be responsible for their retirement.
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Daniel Gil, Dec 10, 2024

Vanguard Hires Ex-Fidelity Exec to Launch Advice Unit

Some 40 million U.S. households in 2024 saw value in paying for professional advice, up by 8 million in 2020, driven by those with more than $1 million in investable assets, Varas wrote, citing Hearts & Wallets data....
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Fred Barstein, Dec 5, 2024

Hearts & Wallets: Employees Taking on the Majority of Retirement Planning Responsibility

Employees perceive themselves as largely self-reliant when it comes to retirement planning....
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Sabrina Kharrazi, Dec 5, 2024

Robinhood Retirement Surpasses 1M Accounts

Though the firm has picked up new clients, many users still don't trust it and are using the platform to dabble in trading, said Laura Varas, chief executive officer of Hearts & Wallets. "That's what Robinhood needs to focus on to grow," she said....
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Emile Hallez, Nov 26, 2024

Give millennials participation trophies for effort, author says

While most, 59 percent, of baby boomers cited professional certification as being highly important in their selection of a financial professional, the same were true for just 35 percent of Gen Z investors and 47 percent of millennials, data from consumer-research firm Hearts & Wallets show....
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Andrea Miranda, Nov 22, 2024

Rethinking retirement: The evolving role of employers in U.S. financial planning

One of the key findings of the findings from the study is the increasing openness among Americans to leave their money in former retirement plans.
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Lynn Cavanaugh, Nov 21, 2024

'Employers aren’t responsible for my retirement,' say most (75%) employees

As more U.S. households gain confidence in investing, they're becoming more self-reliant in making financial decisions, according to new research from Hearts & Wallets.
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Steve Randall, Nov 14, 2024

Experienced investors make decisions alone, but they also value advisors

More American consumers are feeling knowledgeable about investing but that doesn’t mean they want to do it alone…well not entirely....
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Nov 14, 2024

U.S. Household Feelings Of Investing Experience At Highest Peak Since 2010

A new report from Hearts & Wallets reveals as perception of value in paid advice grows, financial anxiety declines; Risk tolerance also at a peak.
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Emile Hallez, Nov 1, 2024

Investors can’t tell if Fed rate cuts are a trick or treat

Political fears ahead of the election though, are pronounced, with 47 percent of people in US households citing a high (9 points on a scale of 10) concern about it, separate data from a forthcoming report by consumer research firm Hearts & Wallets show....
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Artem Milinchuk, Nov 1, 2024

The Future Of Wealth Management And The Rise Of SMAs

Moreover, from 2020-2022, SMAs experienced the most growth (9%) among the top 10 investment products, while mutual funds remained stagnant (-1%), according to the Hearts & Wallets’s Investment Products & Asset Managers 2023 report....
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Daniel Gil, Oct 29, 2024

Traditional Firms Outgun Alts Peers in Marketing Spending

"Alternative managers simply don't have the same scale to do certain things that traditional managers do from a marketing perspective," said Laura Varas, founder and chief executive officer of consumer behavior tracking firm Hearts & Wallets....
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Oct 18, 2024

Increasing Consumer Engagement With Saving & Investing Products; The Secret To Brand Awareness for Leading Asset Managers

Consumer awareness of the financial products in their portfolios is dramatically higher – going from 45% in 2013 to 86% in 2024, according to Hearts & Wallets research of nearly 6,000 U.S. households.
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Emile Hallez, Oct 16, 2024

Options, margin trading a rising source of income for online brokerages, report suggests

Across the country, an estimated 6 to 7 million households are trading on margin or using options, according to data published today by consumer research firm Hearts & Wallets....
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Ayo Mseka, Sep 19, 2024

Are consumers receptive to an in-plan, retirement-income solution?

New qualitative research from Hearts & Wallets reveals fairly positive consumer reactions to a retirement income solution offered within an employer-sponsored retirement plan, with caveats for firms planning to offer such products.
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Aug 28, 2024

Consumer Receptivity To In-Plan Retirement Income Solution

New Hearts & Wallets research provides a roadmap on what attracts investors to retirement income solutions within employer-sponsored retirement plans (ESRPs) and important barriers to adoption.
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Emile Hallez, Aug 27, 2024

Investors like annuities in 401(k)s, for other people

The financial services industry has been working for years to get annuities into retirement plans – and the good news is that people appear to like that idea....
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Alex Ortolani, Aug 27, 2024

In-Plan Annuity Providers Advised to Lean On ‘Pension Nostalgia

Responses from a select group of retirement plan participants show that in-retirement-plan annuity options may be gaining favor, with providers potentially finding traction by leaning into “pension nostalgia,” according to research released Tuesday by Hearts & Wallets LLC....
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Amanda Umpierrez, Aug 27, 2024

Consumers Show Positive Response to In-Plan Annuity Solutions

Participants are reacting positively to retirement income solutions in their workplace retirement plans, finds new research by data and benchmarking firm Hearts & Wallets....
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Ted Godbout, Aug 27, 2024

How Receptive Are Consumers to In-Plan Retirement Income Solutions?

New qualitative research finds fairly positive consumer reactions to a retirement income solution offered within an employer-sponsored retirement plan, but it also provides some caveats for firms planning to offer such products....
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Brian Ponte, Aug 22, 2024

Western Asset Probe Could Spell Trouble for Franklin

Among retail shareholders, satisfaction with investment products for Franklin Templeton is 40%, below the industry average of 45%, Varas said, contrasting Franklin's score with that of American Century....
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Daniel Gil, Aug 19, 2024

White House Push to Kill 'Doom Loops' Could Hit Fund Shops

Although proposed as a benefit for consumers, the "Time Is Money" initiative could stifle innovation to a certain degree as fund companies have looked to invest in tech capabilities for clients, instead of on client-facing personnel, such as customer service centers, according to Laura Varas, founder and chief executive officer of financial services research firm Hearts & Wallets....
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Ayo Mseka, Aug 19, 2024

Are affluent Americans prepared to pass on their wealth?

U.S. household growth will be the fastest among households age 75-plus, according to Hearts & Wallets’ survey, Portrait™ of U.S. Household Wealth 2024: Sizing the Growth Prospects for Older Households and Categories of Advice ...
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Alyson Velati, Aug 9, 2024

Retirees Should Expect to Spend $165K in Medical Costs: Fidelity

More Americans in or nearing retirement are seeking help with health insurance-related decisions, said Laura Varas, founder and chief executive officer of Hearts & Wallets....
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Amanda Umpierrez, Aug 5, 2024

Selecting Right Investments, Budgeting for Retirement Among Top Financial Tasks

The data from Hearts & Wallets found that 60% of U.S. households sought professional advice for at least one financial task in 2024.
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Natalie LIn, Aug 2, 2024

US Households Face Significant Financial Advice Gaps

Research and benchmarking firm Hearts & Wallets’ latest survey, the results of which were released Wednesday, revealed that American households have significant financial advice gaps, defined as finance-related tasks that U.S. households find very difficult and for which they have not sought help in the past 12 months....
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Josh Welsh, Aug 1, 2024

Advisors urged to “take a look at their book” to tackle advice gap

More Americans are seeking help for financial tasks, often with financial professionals, although advice gaps still exist, according to a new market sizing report from consumer research firm Hearts & Wallets....
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Aug 1, 2024

Today’s Top Advice Gaps & The Customer Loyalty Connection

A growing number of U.S. households are seeking help on financial tasks, often from financial advisors, but advice gaps still exist, according to new research of 5,846 U.S. households by Hearts & Wallets.
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Alex Ortolani, Jul 30, 2024

Workplace Advice Use Trending Up, But Age, Assets Matter

Data from Hearts & Wallets found that more middle-asset, middle-aged households are turning to the workplace for financial guidance, but how widely that spreads is an open question.
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Alyson Velati, Jul 12, 2024

Gen Xers Set to Inherit Trillions in Next Decade

Households with people between 65 and 74 control $22.4 trillion in assets, the highest amount of any age group, and much of that will be passed down to those in their 40s and 50s over the next 10 years, according to new Hearts & Wallets research.
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Jay Jumper, Jul 11, 2024

The workplace: A goldmine for advisors seeking new assets

Hearts & Wallets found that 42 percent of rollovers are staying with their employer-sponsored plan, and 18 percent are moving to the new employer’s plan – the largest percentage remaining at recordkeepers since 2010....
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Benzinga Advisor, Jul 7, 2024

Gen Z Will Have To Wait As Gen X Set To Inherit Trillions From Silent Generation

A new report from consumer research firm Hearts & Wallets reveals that Generation X stands to inherit trillions of dollars from the Silent Generation over the next 10 years, presenting significant opportunities and challenges for financial advisors....
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Amanda Umpierrez, Jul 3, 2024

Gen X to Inherit Major Wealth Transfer Over the Coming Decade

Those in Generation X are poised to receive a large chunk of the wealth transfer over the coming years, finds an analysis released today by Hearts & Wallets....
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Jul 3, 2024

Sizing U.S. Wealth: Who Has It Now; Who Will Inherit

A new report from Hearts & Wallets reveals the transfer of wealth from the silent generation to Gen X will be larger than the highly anticipated one from baby boomers to millennials in the next 10 years even though ages 65 to 74 now control $22.4 trillion, more than any other age range.
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Ted Godbout, Jul 3, 2024

Is Your Firm Prepared for the Great Wealth Transfer?

For those who dabble in both wealth management and the DC plan market, a new study previews the astonishing level of wealth that is set to be passed down in the next decade....
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Emile Hallez, Jul 3, 2024

Gen X could get trillions in inheritance over 10 years

Trillions of dollars stand to be passed via inheritance from the Silent Generation to Gen Xers over the next 10 years, and that will mean a lot of hirings and firings of financial advisors....
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Natalie Lin, Jul 3, 2024

Don’t Overlook the Silent-to-Gen X Generational Wealth Transfer

Hearts & Wallets’ findings counter the idea that the Baby Boomer-to-Millennial wealth transfer should be advisers’ focus.
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Alyson Velati, May 28, 2024

Strongly Performing Robos Are 'Modernized Mutual Funds': Analyst

"These robos can be thought of as essentially modernized mutual funds for the sake of understanding," Varas wrote.
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Brian Ponte, May 20, 2024

Smaller Accounts to Boost Direct Indexing Growth: Survey

Laura Varas thinks direct indexing is the "managed product structure of the future" but admits that adoption will be "painstakingly slow."...
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Ayo Mseka, May 17, 2024

Winning the war for the highest share of consumer wallet

Exploding consumer engagement with financial services firms is requiring competitors to fight harder for their share of consumers’ wallets, according to a new Hearts &Wallets market intelligence report....
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May 15, 2024

Financial Services Leaders In Growth And Loyalty Metrics

A new report from Hearts & Wallets reveals one in 4 (25%) of U.S. households now has 4 or more saving and investing relationships vs. 10% in 2013 with wealthier households often having even more relationships.
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Ayo Mseka, May 14, 2024

‘Chunky’ spending becoming the retirement norm

For most Americans, the right mix for retirement funding doesn’t mean million-dollar portfolios. Instead, relevant advice should include allowing for “chunky” spending, addressing the outlook for employment, avoiding unpleasant retirement surprises, and analyzing living arrangements, according to a new market intelligence report by Hearts & Wallets....
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Emile Hallez, May 9, 2024

Should you be a finfluencer?

More than half of Gen Zers and millennials rely on social media for investing information, along with nearly a third of Gen Xers, according to 2023 data from consumer research firm Hearts & Wallets....
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Kimberly Blanton, May 9, 2024

Retirement is Filled with Surprises – Good and Bad

One in four retired households, for example, agree they are “forced to live more frugally than we wanted,” and one in 10 said they’re “spending their nest egg too fast,” according to the survey, fielded in 2023 by Hearts & Wallets, which provides data to the financial industry....
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Alex Padalka, Apr 29, 2024

Advice for Clients Who Can’t Save $1M

Financial advisors may need to focus on more than just saving for retirement to truly help their clients prepare for their years after work, according to a new report....
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Rich Eisenberg, Apr 25, 2024

Retirees feel good about money and life, but worry about inflation and Social Security

Those feeling the greatest need to live more frugally, Varas said, are retirees trying to make do with less than 50% of their preretirement income. “That’s where you’re really having to cut back,” she noted.....
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Ted Godbout, Apr 25, 2024

Could Expanded Sources of ‘Retirement Income’ Unlock Trillions?

The right mix for retirement funding doesn’t necessarily mean million-dollar portfolios, but should include advice that allows “chunky spending,” addresses employment outlook, avoids unpleasant retirement surprises, and analyzes living arrangements, a new report suggests....
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Apr 25, 2024

Getting Real About Retirement

A new report from Hearts & Wallets reveals 87% experience surprises in retirement; 3 to 5 times income-to-assets ratio enough to avoid bad surprises.
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Rich Eisenberg, Apr 25, 2024

Retirees feel good about money now and love their lifestyle, but worry about inflation and Social Security

Most workers haven't given much thought to how they'll spend their time in retirement.
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Alyson Velati, Apr 24, 2024

Will the Robo Survive? More Consolidation Seen Ahead

Betterment's acquisition of Goldman Sachs' Marcus Invest robo-advisor could signal further consolidation in the space, consultants say....
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Apr 24, 2024

Q1 2024 Ameriprise Financial Inc Earnings Call

And in fact, in the quarter, we were proud to earn a Hearts & Wallets 2024 Top Performer in understands me and shares my values, unbiased, puts my interest first and explains things in understandable terms....
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Steve Randall, Apr 24, 2024

Retirement income from four sources is expected by half of future retirees

Relying on only one or two sources of retirement income may be the experience of current retirees but those who are still planning their retirement expect a wider spread.
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Natalie Lin, Apr 24, 2024

Surprising Retirement Considerations

Aging Americans need guidance on some often-unexplored retirement challenges, Hearts & Wallets finds.
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Ayo Mseka, Mar 22, 2024

What do consumers want from financial services firms?

What do consumers want from financial services firms? A new report by Hearts & Wallets is shedding light on financial services consumers wants, including the need for clear and understandable fees, and putting the client's interests first....
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Steve Randall, Mar 15, 2024

What do clients really want? And what is their biggest dissatisfaction?

The fast-evolving financial services landscape, with digital disruptors emerging almost endlessly, requires a keen eye on the demands of clients – but what do they really want?...
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Tom Gresham, Mar 11, 2024

Employees have a new attitude about investing: 7 key retirement trends for 2024

Employers are not "responsible for providing for my retirement," say employees, and only 1 in 4 is comfortable leaving money in former employer plans, however, they are more open to employer involvement, says a new report.
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Beagan Wilcox Volz, Mar 8, 2024

IRA-Owning Households Jump to 42%

Among plan participants who rolled assets out of workplace plans in 2022, more than 40% chose an IRA offered by the recordkeeper affiliated with their workplace plan, up from 33% in 2015, according to Hearts & Wallets research....
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Byron Armstrong, Feb 29, 2024

The First Five Things You Should Do When You Inherit a Large Amount of Money

A recent national survey of 6,000 households conducted by Hearts & Wallets found that 49 million U.S. households expected inheritances in 2022 versus 34 million in 2015, with 54% of this group having investable assets under $100,000, which points to a rise in inheritances among middle class that have minimal experience managing inheritances....
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Alyson Velati, Feb 29, 2024

Robinhood Targets Grubhub, Taskrabbit Workers with New Offering

About 6% of U.S. households have trialed Robinhood and about 4% of U.S. households currently have a Robinhood account, according to data from Hearts & Wallets....
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Feb 26, 2024

Battle for Consumer Attention: Fintech Startups Surge Ahead in Awareness Race

Traditional banks are finding themselves in a race to maintain relevance against the burgeoning presence of fintech startups, according to a recent market intelligence report by Hearts & Wallets, a data and benchmarking firm....
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John Sullivan, Feb 23, 2024

Fintech Friday: New(er) Fintechs Lead Legacy Firms in Awareness, But …

nsumers are increasingly aware of newer fintech firms, but is it translating to new assets?...
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Emile Hallez, Feb 21, 2024

‘Sobering’ report shows increasing reach of fintech over traditional firms

About a quarter of Americans have tried a tech-based savings or investing service, and companies with scale are getting the most business, a report from Hearts & Wallets finds.
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Leo Almazora, Feb 13, 2024

Morningstar Wealth strengthens its SMA shelf

There’s no questioning the rise in demand for SMAs, with an estimated 22% of US households investing in them as of 2022 according to a survey by Hearts & Wallets....
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Tobias Salinger, Feb 8, 2024

Financial advisors get flexible with fees — with or without AUM charges

"For financial advisors, it's OK to feel confident to be a little more explicit," said Laura Varas, the CEO of savings, wealth and retirement data research firm Hearts and Wallets, said in an interview. "You're paying for it. It's worth buying."...
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Momen Zellmi, Feb 8, 2024

Debunking Retirement Myths: Savings Goals Not the Sole Deciding Factor

A new report by Hearts & Wallets debunks the long-standing belief that retirement is only feasible once a certain savings milestone is achieved....
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Ayo Mseka, Feb 2, 2024

Study: Consumers favor flat fees for financial planning, investment services

Flat fees are emerging as a favored way for consumers to pay for financial planning and even for investment management, according to a new Hearts & Wallets market intelligence report....
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Daniel Gil, Feb 1, 2024

Investors Want Flat Fees. But That Could Hurt Industry Revenue

More retail investors want to pay a flat fee to cover investment management, rather than be charged a percentage of the assets they hold, a new report shows....
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Emile Hallez, Feb 1, 2024

It's a concept that's hardly new in financial services, but the brokerage is offering significantly more than competitors.

Data from consumer research firm Hearts & Wallets show that Robinhood has extremely high levels of brand recognition, with 40 percent of U.S. households being aware of the company....
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Jan 31, 2024

What’s Worth Paying For, Preferred Ways To Pay, And Surprising Attitudes To “Free”

A new report from Hearts & Wallets reveals higher-asset clients find flat fees appealing.
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Jan 26, 2024

6 Financial Strategies You Should Consider Following in 2024

Women now make the majority of consumer spending decisions,...
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Jan 22, 2024

A Step-by-Step Guide to Managing Your Finances as a Woman in Your 20s, 30s and 40s

Women control or influence almost $20 trillion of U.S. household assets....
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Ayo Mseka, Jan 8, 2024

Despite perceived benefits, most Americans aren’t working with a financial professional

Laura Varas, CEO and founder of Hearts & Wallets, also shared some ideas for connecting with more customers....
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