Pain Points & Actions
How Helping on the Biggest Difficulties Can Unleash Multiple Consumer Actions – a Quantitative Report
Order Report - Pain Points & Actions: How Helping on the Biggest Difficulties Can Unleash Multiple Consumer Actions – a Quantitative Report
Overview
Understand the financial pain points that can shape products and services to support action taking. This report analyzes the level of difficulty consumers have with key financial tasks, rates of seeking help, and actions consumers are taking and plan to take in the future.
This new 61-page report features 45 exhibits. See table of contents and sample pages below.
Select Key Findings
- Nationally, consumers with at least 1 difficult financial task have an average of 6.7 difficult tasks.
- The No. 1 difficulty nationally out of the 21 tracked is "choosing appropriate investments."
- Older consumers are action takers while younger consumers are action planners.
About the Hearts & Wallets Investor Quantitative™ Database
The Hearts & Wallets Investor Quantitative™ Database (IQDB) is the comprehensive resource for understanding and analyzing behaviors and attitudes of retail savers and investors. With an annual sampling wave that includes all age and wealth segments, the database is now composed of over 50,000 U.S. households and 1,600 fields and derived variables stretching back to 2010. The database enables sizing and profiling of virtually any demographic, behavioral or attitudinal definition for consumer groups.
Convenient Options to Suit Your Needs and Budget
Choose access licenses for your team or organization in ways that support how you collaborate.
Basic – Convenient online responsive report via the Hearts & Wallets Client Portal for 1 to 20 users.
Standard – Responsive report, plus download of individual slides for integration into internal strategy documents, via the Hearts & Wallets Client Portal for 1 to 50 users.
Enterprise+ – Responsive report, download of individual slides for integration into internal strategy documents, plus PDFs for storage in internal reference libraries.* Access to the Hearts & Wallets Client Portal for 1 to 250 users.
Sample Pages
Table of Contents
Report Executive Summary
Methodology
Key Findings & Implications, Favorite Statistics, Related Research
1. Difficulty with financial tasks is highest for younger and less affluent consumers.
Number of Financial Tasks Rated Difficult
Difficulty with Individual Financial Tasks
Top 5 National Difficulties by Lifestage and Investable Assets
Top 5 National Difficulties by Lifestage and Investable Assets
2. Seeking help with one or more tasks is up, driven by Accumulators seeking help on 3+ tasks.
Seeking Help for Any Financial Task
Seeking Help for Individual Financial Tasks
Number of Tasks Sought Help For
3. Most households take at least 1 financial action approximately every year.
Number of Actions Taken and Planned
Actions Taken and Planned by Segment
4. Seeking help increases action, and, when consumers seek help for one task, they often take multiple actions.
Crosstab Analysis: Seeking Help with Action Taken
Comparison of Rates of Action “Changed investment mix” Among Households Who Sought Help and Did Not Seek Help for “Choosing appropriate investments”
Comparison of Rates of Actions Taken Among Households Who Sought Help for Choosing Investments
Appendix
Pain Points & Actions Insight Module Data Dictionary
Glossary, Sample Sizes
Get Pain Points & Actions: How Helping on the Biggest Difficulties Can Unleash Multiple Consumer Actions!
Basic: $9,000
Standard: $12,000
Enterprise+*: $18,000
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*Clients must demonstrate appropriate standards of use and library controls to be eligible for Enterprise+. In addition to the PDF for storage in internal reference library, Enterprise+ users may also access the Hearts & Wallets Client Portal and slide download features.
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