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About Hearts & Wallets

Hearts & Wallets is the resource for retail investor data and insights, combining a consumer marketing framework with financial services operating experience. The company is a catalyst for consumer-driven innovation in retail investing and saving. 

Visit: www.heartsandwallets.com/about 

Call now 800-930-0966 x1

Stores & Success Metrics

Redefining Success Measures in a Marketplace of Multiple Relationships and Lower Share of Wallet  – a Quantitative Report

Report Overview

Stores & Success Metrics: Redefining Success Measures in a Marketplace of Multiple Relationships and Lower Share of Wallet delivers key competitive intelligence and insights to understand select customer loyalty measures. 

This report reveals the Hearts & Wallets Top Performer financial services firms, those cited most often by their customers, for customer loyalty measures and trust.

Select Key Findings

  • Consumer share of wallet is dropping at leading financial services firms as people spread their wallet around by adding more stores.
  • Trust scores are declining with younger consumers.
  • Ameriprise, Charles Schwab, Edward Jones, Morgan Stanley and USAA are Top Performer firms for most likely to recommend by their customers.

How This Report Helps

Marketing, product and advice/digital design professionals will benefit from the actionable data and insights in this report to:

  • Gain insights to respond to consumer deconsolidation and industry-wide drops in share of wallet for leading firms.
  • Understand the loyalty measures of success and Top Performer firms and the critical role of trust to shape programs going forward.

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 over 1,600 fields and derived variables, the breadth and depth of topics covered is designed with decades of hands-on experience in the marketing, product, service and research functions it serves. The database covers consumers of all age and wealth segments, with over 5,000 annual responses to an online survey fielded mid-year since 2010. The large sample size of over 45,000 U.S. households permits sizing and profiling of virtually any demographic, behavioral or attitudinal definition for consumer groups. Its national weighting methodology allows for comparisons across years and customer/shareholder bases of leading firms. 

“Rarely does any content that I’ve read over the years reach the level of sophistication and credibility that Hearts & Wallets produces.”    

– Consumer Insights Professional, major diversified firm  

Executive Summary

Key Findings & Implications, Favorite Statistics, Related Research

6-12

Summary of Stores who Rank Highest in Success Metrics

Summary of Top Performer Stores on Select Loyalty Measures

Consumers Increase Firm Relationships

Percent and Average Number of Saving & Investing Relationships, National, By Investable Assets, By Lifestage, By Year

13-17

Relationships in Different Inside Advice® Categories

18-19

Consumers Spreading Their Money Around

Share of Wallet (Consumer-Reported), Percent with Majority (76%-100%), By Investable Assets, By Lifestage, by Year

20-25

Share of Wallet Dropping At Most Stores

Serve as Primary Store, Main Retirement Advice, and Connections between Primary Store and Retirement Advice, All Customer Types

26-28

Share of Wallet: Mean, Distribution, Percent of Customers with Majority (75%+), by Store, All Customer Types

29-32

Customers with 3+ Account Types, by Store, All Customer Types

33

National Brands Growing Reach, But Share of Assets Mixed

Top Stores for % Household Relationships: All Customer Types, By Investable Assets, by Year

34-35

Top 5 Stores for Reach & Asset Share of U.S. Retail Consumer Investable Assets, by Year

36

Troubling Trust Measures for the Young

Trust: National, By Lifestage, By Investable Assets, By Store

37-40

Likelihood to Invest More, National, by Investable Assets, by Store, by Consumer Perception of Inside Advice® Grid Placement

41-44

Intent to Recommend: National, by Store, by Lifestage

45-47

Inside Advice® Benchmarking Overall Scores by All Advice & Guidance Experiences, by Inside Advice® Category

48

Hearts & Wallets Loyalty Predictor, by Store, All Customer Types

49

Appendix

Terminology & Definitions, Sample Sizes

50-57

Index of Companies

American Funds

26-33, 40, 43, 46, 49

Ameriprise

9, 11-12, 26-33, 40, 43, 46, 49

Bank of America/Merrill Lynch

7, 9, 12, 26-36, 40, 43, 46, 49

Capital One

7, 9, 12, 26-35, 40, 43, 46, 49

Charles Schwab

7, 9, 11-12, 26-36, 40, 43, 46, 49

Citibank

9, 12, 26-33, 40, 43, 46, 49

E*Trade

9, 26-33, 40, 43, 46, 49

Edward Jones

9, 11-12, 26-33, 40, 43, 46, 49

Fidelity

7, 9, 12, 26-36, 40, 43, 46, 49

JP Morgan Chase

9, 12, 26-35, 40, 43, 46, 49

Morgan Stanley

9, 11-12, 26-33, 40, 43, 46, 49

PNC

26-33, 40, 43, 46, 49

TD Ameritrade

26-34, 40, 43, 46, 49

TIAA

9, 12, 26-33, 40, 43, 46, 49

T. Rowe Price

26-33, 40, 43, 46, 49

USAA

9, 11, 26-33, 40, 43, 46, 49

Vanguard

7, 12, 26-36, 40, 43, 46, 49

Wells Fargo Enterprise/Wells Fargo Advisors/Wells Fargo Bank

7, 9, 12, 26-36, 40, 43, 46, 49

Sample Report Pages

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About Hearts & Wallets

Hearts & Wallets is the resource for retail investor data and insights, combining a consumer marketing framework with financial services operating experience. The company is a catalyst for consumer-driven innovation in retail investing and saving. 

Visit: www.heartsandwallets.com/about 

Call now 800-930-0966 x1

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