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Market Intelligence Reports

Market intelligence reports are the starting point to access H&W’s data, insights and cross-industry perspective. Gain a unique perspective through H&W’s three proprietary databases. Reports highlight the best thinking from H&W subject matter experts and cover a wide range of topics, including advice, pricing, investment products, retirement, financial wellness and digital innovation.

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In addition to exclusive briefings, Trends subscribers engage in the cutting edge of Hearts & Wallets research with advance access to all upcoming reports produced during the subscription period, input to future topics and invitations to attend Explore Qualitative focus groups.

See All Advice and financial planning Financial wellness (workplace) Retirement and aging NextGen and digital best practices Pricing Segmentation Advisors vs. DIY (hybridization) Competitive metrics Investment products
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2025

Financial Caregiving, Retirement & Funding: Sizing, Structuring & Pricing Solutions for a Large & Growing Need

Trends™ Subscribers Advance Access: April 2025

This report provides a comprehensive picture of needs and opportunities in financial caregiving. Featured data fields from the IQ™ Database include current, past and future expected caregiving responsibilities, likelihood to purchase support for certain financial caregiving tasks, and demographics on households (HHs) receptive to support. Other IQ™ fields include the concern of “ability of loved ones to manage their finances as they age,” attitudes on the responsibility of adult children to provide financial care for their aging parents and how aging parents feel about this. Also covered are difficulty with financial caregiving tasks and advice gaps. The report highlights the most recent data from the Retirement & Funding (R&F) module of IQ™ Database, including work/life vision, retirement ages and income sources (actual and anticipated), and other related fields to show how the increasing complexity of household retirement finance is contributing to rising demand for financial caregiving solutions.

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Money Movement: Consumer & Competitive Buying Patterns in Rollover, Transfers, New Accounts & Trial

IQ Insight Module
Trends™ Subscribers Advance Access: March 2025

This ground-breaking report, exclusively available for Hearts & Wallets Trends™ subscribers, analyzes customer-reported transactions to reveal competitive dynamics in money movement.

  • Compare transaction and dollar volumes for rollover, transfers of assets ex-rollover and new accounts funded by new deposits, a form of money movement visible only to recipient firms. 
  • Understand current transaction sizes, competitive sources/destinations, relationship status (trial or consolidation) and motivating factors for transactions completed/under consideration.
  • Craft strategies and tactics to attract and retain flows for your firm’s business units and consumer targets.


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Where the Money Is -- and Is Going
Look No Further: More 401(k) Savers Pick IRA from Recordkeeper
More Americans are moving money, but who, why, and where?
Follow the Money: Where, Why and How Much

Advice, Technology & Actions: Engagement with Human and Digital Influences and the Connection to Outcomes

IQ Insight Module
Trends™ Subscribers Advance Access: February 2025

This report tracks how U.S. households are using advice and technology for saving and investing advice and information. Some highlights include:

  • Preference for self direction in investment decisions is at the lowest level since tracking began, with preference for “general contracting” -- at a peak.
  • Consumers cut back on sources of information and advice, favoring themselves and advisors over other sources, including online and employers.
  • In 2024, for the first time, mobile surpassed computers as the device of choice for online information and advice activities.
  • Nationally, 8 in 10 households (79%) have taken a saving/investing action in the past year, with the most popular being saving more and purchasing insurance.
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Trends in Advice & Tech and Financial Actions
Clients want more advice on savings, but are you giving them enough?
Financial Professional Usage Increasing, Digital Advice Leveling Off
Political turmoil outstrips inflation as Americans’ top financial worry
Americans Ramp Up Saving, Cut Spending, but a Gap in Financial Advice Isn’t Helping

Wants & Pricing 2025: Top Performer Firms and Attributes That Drive Satisfaction in the Customer Life Cycle

IQ Insight Module
Trends™ Subscribers Advance Access: January 2025
Available for license as an individual report: July 2025

This report is our annual review of what customers want from the stores they do business with, how satisfied they are with these stores, and evolving trends in pricing. Wants and Pricing is one of our most highly anticipated reports of the year, and includes the 2023 "Top Performer" firms — those that set the bar across key competitive metrics.
A few highlights from this year include:

  • Long-term nationally, the top-growing wants are “has good mobile apps,” internet access, specialized expertise, timely/tactical investment ideas, and “is innovative.”
  • Proactivity in investment ideas, investment selection and personal financial advice are attributes that are highly important to HHs but earn lower levels of satisfaction.
  • Ameriprise, Edward Jones, LPL, Morgan Stanley, WFA, Charles Schwab, Fidelity, Merrill, T. Rowe Price, USAA and Vanguard are among the firms that have earned "Top Performer" designations in one or more customer wants.
  • As fee sensitivity rises nationally, use of flat fees is increasing and many stores grapple with significant portions of customers who do not know how they pay for their relationships.
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Customer Wants, Satisfaction Levels and HW Top Performer Firms
Proactivity is key to client satisfaction, and it's lagging, survey says
Does your investor client know how much they pay in fees?
What Customers Want And The Firms Customers Love
What Customers Want and the Firms Customers Love

2024

Industry Performance Metrics: Competitive Penetration, Share and Loyalty Measures as Consumers Consolidate

IQ Insight Module
Trends™ Subscribers Advance Access: November 2024
Available for license as an individual report: May 2025

This report features special year-end data and analysis to help you set and refine corporate strategy for 2025.  It includes "need to know" competitive performance metrics with store & asset manager rankings featured in our corporate scorecards. 


Select Report Takeaways:

  • U.S. households (HHs) are spreading their wallets across fewer stores. Consolidation was strongest in upper-asset HHs.
  • Vertically integrated leaders Fidelity and JPMorgan Chase serve more households HHs with their investment products and services than other firms. 
  • As HHs consolidate relationships, Bank of America Merrill narrowly holds on to #1 for HH penetration, but is losing ground to #2 Fidelity and #3 JPMorgan Chase.
  • Trust and intent to invest more are leading indicators of future flows. Fidelity, Edward Jones, LPL and Vanguard earn high marks from customers on multiple loyalty metrics. 
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Corporate Scorecards
Financial firms' war for wallet share intensifies with households cutting ties
Americans Cut Financial Firms Used; Average Share Of Wallet Increases
Friend Or Foe? No One Cares Anymore
Americans Cut Financial Firms Used; Average Share of Wallet Increases

Attitudes & Sentiment 2024: Goals, Beliefs and Needs in an Era of Rising Financial Confidence

IQ Insight Module
Trends™ Subscribers Advance Access: October 2024
Available for license as an individual report: April 2025

Attitudes & Sentiments 2024 is an annual look at U.S. household attitudes and behaviors relating to investing, and how goals and concerns have evolved in the past year.

Overall, households are feeling more optimistic about their finances, fueled by strong market performance. However, concerns over the US political environment and data security are very real and jump to the top of the list.  Concern over inflation remains high and continues to grow.  Also, consumers are increasingly seeing value in paying for financial advice, and interest in banking and investing at the same firm is one the rise.  Emerging themes include intergenerational finance and artificial intelligence (AI).

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Changing Consumer Attitudes and Sentiment 2024
Experienced investors make decisions alone, but they also value advisors
'Employers aren’t responsible for my retirement,' say most (75%) employees
Experienced investors make decisions alone, but they also value advisors
Investors can’t tell if Fed rate cuts are a trick or treat
How is consumers’ investing confidence impacting the need for advisors?
Financial Advisors’ Delicate Dance to Court Retail Investors
Rethinking retirement: The evolving role of employers in U.S. financial planning
Hearts & Wallets: Employees Taking on the Majority of Retirement Planning Responsibility
U.S. Household Feelings of Investing Experience at Highest Peak Since 2010

Investment Products & Asset Managers 2024: How the Brokerage Environment Impacts Product Innovation & Competitive Brand Strength

IQ Insight Module
Trends™ Subscribers Advance Access: September 2024
Available for license as an individual report: March 2025

This year’s Investment Products & Asset Managers report looks at the continued growth of brokerage accounts in U.S. households, and how margin lending and option trading serve as revenue sources now that stock and ETF trades are free. We also examine household asset allocation in light of how managed products are playing a bigger role for many investors. Additionally, we explore which investment managers are leading the industry given the challenges and opportunities they face.

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Investment Product Trends and the Competitive Landscape for Asset Managers
Options, margin trading a rising source of income for online brokerages, report suggests
Financial Advisors’ Delicate Dance to Court Retail Investors
Americans’ saving, investment product savvy improves, study finds
Increasing Consumer Engagement With Saving & Investing Products; The Secret To Brand Awareness for Leading Asset Managers
Increasing Consumer Engagement With Saving & Investing Products; The Secret to Brand Awareness for Leading Asset Managers

Advice Category Combinations: How Consumers Combine Experiences Reveals Barriers and Tailwinds to Trial & Engagement

EQ Exercise
Trends™ Subscribers Advance Access: August 2024
Available for license as an individual report: N/A (only available through subscriptions)

This Explore Qualitative™ report looks at how consumers combine different financial advice resources in managing their money. Most often a combination of sources and types are used. As observed in Hearts & Wallets’ 2024 focus groups, only about 1 in 5 “fully advised” participants rely on a single advisor. Hear from customers why it is important to categorize advice experiences, and set expectation on what different advice experiences deliver and how they are priced. 

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“In-Plan Retirement Income Solution”: Consumer Reactions to the Latest Trends in Guaranteed Income Design to Inform Product Enhancements and Reduce Barriers to Adoption

EQ Concept Test
Trends™ Subscribers Advance Access: July 2024
Available for license as an individual report: N/A (only available through subscriptions)

This qualitative report is sourced from our June 2024 focus group series. We observed consumer reactions to "In-Plan Retirement Income Solutions," which are target date retirement funds in employer-sponsored plans that have an option to allocate up to 30% of the account balance to an annuity starting at age 55, providing a stream of lifetime income at retirement.

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Explore 2024 – Top Learnings from Hearts & Wallets Qualitative Research
In-Plan Annuity Providers Advised to Lean On ‘Pension Nostalgia
How Receptive Are Consumers to In-Plan Retirement Income Solutions?
Investors like annuities in 401(k)s, for other people
Consumers Show Positive Response to In-Plan Annuity Solutions
Are consumers receptive to an in-plan, retirement-income solution?
Consumer Receptivity To In-Plan Retirement Income Solution
New Research Reveals Consumer Receptivity to In-Plan Retirement Income Solution

Pain Points & Actions: Today’s Top Advice Gaps & the Customer Loyalty Connection

IQ Insight Module
Trends™ Subscribers Advance Access: June 2024
Available for license as an individual report: N/A (only available through subscriptions)

This report explores which financial tasks consumers find difficult, what they are most likely to seek advice on, and where the biggest advice gaps are. For example, 17% of households today find estate planning difficult but do not seek help. Advice gaps such as this represent an opportunity to provide help on a topic for consumers who find it difficult.

Key Findings include:

  • Tasks are most difficult for the young. However, difficulty eases with age and assets. Nationally, the #1 most difficult task is “choosing appropriate investments."
  • Tasks are not difficult in isolation. Most (68%) households who find one task very difficult also find 3+ tasks very difficult. Clustering of difficulties increases with assets.
  • Seeking help is up, frequently for multiple tasks. The most avid advice-seekers use combinations of financial professionals and online resources that vary by generation.
  • The biggest advice gaps in dollars are estate planning, “handling market volatility emotionally,” Roth conversion, buy/sell specific securities, balance goals and RMDs.
  • Being prepared to help on multiple tasks yields a loyalty premium.
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Biggest Financial Pain Points and Advice Gaps
Advisors urged to “take a look at their book” to tackle advice gap
US Households Face Significant Financial Advice Gaps
Today’s Top Advice Gaps & The Customer Loyalty Connection
Retirees Should Expect to Spend $165K in Medical Costs: Fidelity
Seeking Help Is up for Difficulties with Financial Tasks, Top Advice Gaps and the Customer Loyalty Premium

Portrait™ of U.S. Household Wealth 2024: Sizing the Growth Prospects for Older Households and Categories of Advice

Market Sizing
Trends™ Subscribers Advance Access: May 2024
Available for license as an individual report: November 2024

The 2024 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. This report is updated annually. As the number of HHs in America climb and investable assets approach $78T, understanding who controls this wealth increases in importance as you refine strategies and target markets. Use this report to size markets, identify target audiences, understand how real estate equity plays a significant role in total wealth, and the importance of providing advice.

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U.S. Household Wealth and the Power of Market Sizing
Is the Great Wealth Transfer Really All That Great?
Gen X could get trillions in inheritance over 10 years
Gen Xers Set to Inherit Trillions in Next Decade
Don’t Overlook the Silent-to-Gen X Generational Wealth Transfer
Is Your Firm Prepared for the Great Wealth Transfer?
Gen X to Inherit Major Wealth Transfer Over the Coming Decade
Sizing U.S. Wealth: Who Has It Now; Who Will Inherit
Are affluent Americans prepared to pass on their wealth?
Gen Z Will Have To Wait As Gen X Set To Inherit Trillions From Silent Generation
Sizing U.S. Wealth: Who Has It Now; Who Will Inherit

Stores & Success Metrics 2024: As Banks Acquire Relationships, the Race for Primacy and Loyalty Is On

IQ Insight Module
Trends™ Subscribers Advance Access: April 2024
Available for license as an individual report: October 2024

This report is an annual look at consumer relationships with stores - who is on the leader board for household penetration, share of wallet, share of assets, and trust. The bottom line - competition for assets continues to intensify. The average number of consumer relationships with firms is 2.7 nationally, and 3.9 for $1M+ households. Additionally, the average share of wallet (SOW) has fallen to a new low of 37%, down from 45% in 2020. 

The trick to maintaining relevancy in the mind of the consumer is to be their "primary store", which is typically driven by being their main source of retirement advice. Customers who receive both advice and service are more likely to use those stores as main source of retirement advice and grant them higher share of wallet. Read this report to see how your firm competes on all these important measures and learn how you can work to be your customers primary store and main source of retirement advice.

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Who's Winning in Share of Wallet and Other Key Success Metrics
Financial Services Leaders In Growth And Loyalty Metrics
Financial Services Leaders in Growth and Loyalty Metrics

Getting Real About Retirement - Breaking Through with Better Solutions for "Chunk or Nothing" Spending, Work & Real Estate

Fusion Report
Trends™ Subscribers Advance Access: March 2024
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. This fusion report draws from all three Hearts & Wallets' databases and is one of the most comprehensive looks at retirement that Hearts & Wallets has assembled. This is a must read for those who are focused on retirement planning & advice, household finance/wellness, and retirement income. Topics explored include: surprises in retirement, the increasing number of income sources in retirement, expectations vs. reality in retirement and the biggest disconnects, addressing real estate equity and living arrangements in retirement advice, and "chunk or nothing" vs. steady distributions.

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Getting Real About Retirement
Surprising Retirement Considerations
Retirees feel good about money and life, but worry about inflation and Social Security
Could Expanded Sources of ‘Retirement Income’ Unlock Trillions?
Retirement income from four sources is expected by half of future retirees
Advice for Clients Who Can’t Save $1M
‘Chunky’ spending becoming the retirement norm
Is the Great Wealth Transfer Really All That Great?
Getting Real About Retirement
Retirement is Filled with Surprises – Good and Bad
Getting Right Mix for Retirement Funding; Flexibility to Take Funding Chunks; Include Work-span and Real Estate

Wants & Pricing 2024: Top Performer Firms and Opportunities for Competitors to Differentiate in Biggest Satisfaction Gaps

IQ Insight Module
Trends™ Subscribers Advance Access: February 2024
Available for license as an individual report: June 2024

This report is our annual review of what customers want from the stores they do business with, how satisfied they are with these stores, and evolving trends in pricing. Wants and Pricing is one of our most highly anticipated reports of the year, and includes the 2023 "Top Performer" firms — those that set the bar across key competitive metrics.
Here are a few highlights:

  • Clear and understandable fees is the top want for the mass-market, while being unbiased and putting clients' interests first is the top want for the $3M+ households
  • Personal financial advice has become more important over time while satisfaction has remained flat, indicating a possible area for competitive differentiation
  • Ameriprise, Edward Jones, Merrill, Morgan Stanley and USAA achieved one or more Hearts & Wallets Top Performer designations in 2023
  • Pricing remains a problematic area with many customers not knowing how they pay for saving and investing, especially in workplace models. Flat fees are reportedly becoming more common.


Read more
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Top Customer Wants, Top Performer Firms and Lasting Pricing Trends
What do clients really want? And what is their biggest dissatisfaction?
What do consumers want from financial services firms?
Q1 2024 Ameriprise Financial Inc Earnings Call
Give millennials participation trophies for effort, author says
Top 5 Wants Customers Have of Financial Services Firms; Biggest Satisfaction Gaps Tied to Investment Management

New Entrants & Offerings: How “Cash,” Crypto & Lending Are Changing the Competitive Landscape on Awareness, Trial & Conversion

IQ Timely Topic
Trends™ Subscribers Advance Access: January 2024
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. Our New Entrants & Offerings report looks at the rise of "Fintech" solutions from industry newcomers as well as established firms. Capabilities are extending beyond investing to include savings, crypto and lending. Awareness of new entrants and offerings from traditional firms is high and growing, with nearly 80% of U.S. households aware of at least one. Although innovative capabilities are grabbing investor attention and garnering higher awareness, conversion rates are higher with solutions and firms that have scale.

Highlighted findings:

  • 1 in 4 U.S. households (25%) has put money toward new entrants/offerings, up from 6% in 2015.
  • Robinhood, Chime, SoFi and Acorns lead in national awareness at 30-40%.
  • Today, new entrants with scale are emphasizing new capabilities, especially “cash”/saving.
  • With 35% of U.S. households interested in trial, many new entrant/offerings are earning high consideration levels.
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Competitive Awareness and Trial of New Offerings
‘Sobering’ report shows increasing reach of fintech over traditional firms
Strongly Performing Robos Are 'Modernized Mutual Funds': Analyst
Will the Robo Survive? More Consolidation Seen Ahead
Robinhood Targets Grubhub, Taskrabbit Workers with New Offering
Battle for Consumer Attention: Fintech Startups Surge Ahead in Awareness Race
Fintech Friday: New(er) Fintechs Lead Legacy Firms in Awareness, But …
FinTech/Robo Race to Capture Consumer Wallets: New Entrants Ahead of Traditional Firm Offerings in Awareness; Scale Matters on Conversion

2023

Expectations for Products and Stores: Strategic Responses to Changing Power Dynamics for Asset Managers & Distributors

EQ Exercise
Trends™ Subscribers Advance Access: December 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. The symbiotic dynamics between stores and the products the stores sell has always been a topic of discussion -  who holds the power, and does the store or the product ultimately drive consumer purchase decisions. This qualitative report looks at this topic closely through customer verbatims in order to build a better understanding of what influences consumer purchase behavior. Select key findings include:

  • Consumers buy products from stores
  • Consumers see stores as more important and differentiation should happen at the store level
  • The investment product is "going to get me the money I need"
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Attitudes & Sentiment 2023: Driving Corporate Strategy in Response to Changing Consumer Needs

IQ Insight Module
Trends™ Subscribers Advance Access: November 2023
Available for license as an individual report: February 2024

Attitudes & Sentiments 2023 features a first look at our 2023 Investor Quantitative™ (IQ) Database survey data. This year's annual report examines U.S. household attitudes and behaviors relating to investing, and how goals and concerns have evolved in the face of continuing inflation and increasing worldwide conflicts.

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Latest Trends in Individual Investor Attitudes, Behaviors and Sentiment
Saver Receptivity to Financial Advice Reaches 10-Year High
Millennials now most confident investors at dealing with market volatility
Millennial investors most comfortable with market volatility, study shows
Employees have a new attitude about investing: 7 key retirement trends for 2024
7 Key Attitudinal Trends For Investing In 2024
7 Key Attitudinal Trends for Investing in 2024

Pricing Mechanisms: Consumer Perspectives on What's Worth Paying for, Preferred Ways to Pay, and Surprising Attitudes to "Free"

EQ Exercise
Trends™ Subscribers Advance Access: October 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. Given there is a high level of consumers confusion about pricing, we developed this qualitative report to look closely at their understanding and perception of pricing. Through the use of focus groups, we look at what services are considered worth paying for, and what are the preferred ways of paying for them. Here are some of the most significant learnings: 

  • Today’s consumer talks about pricing more rationally than in the past, acknowledging that a company “needs to make money.” 
  • Paying directly reduces “worry” about incentives. 
  • Paying a flat fee or “commissions” is the preferred way to pay over a percentage of account value, and a flat fee is the preferred way to pay for financial planning.  

Our research shows that 20% of customers think their savings and investing solutions are free, so this report also explores consumer response to the word "free." Focus group consensus is that guidance and motivational support should be free, but personal financial planning should not be. Also, investment management services should not be free. 

Read this important report to learn more about how clients think of and respond to pricing - many dont know what they pay or how they pay.

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The Future of Pricing
Financial advisors get flexible with fees — with or without AUM charges
Study: Consumers favor flat fees for financial planning, investment services
Investors Want Flat Fees. But That Could Hurt Industry Revenue
What’s Worth Paying For, Preferred Ways To Pay, And Surprising Attitudes To “Free”
Flat Fee Outlook, Appetite to Pay for Financial Planning and Investment Management, and the “Free” Factor Amid Consumer Pricing Confusion

Investment Products & Asset Managers 2023: New Wrappers, Multi-asset Solutions & Reaching More Shareholders to Power Growth

IQ Insight Module
Trends™ Subscribers Advance Access: September 2023
Available for license as an individual report: February 2024

This report is our annual look at how households are currently allocating their assets and which investment managers are leading the industry. Here are a few highlights:

  • Within the 95M households who know their products, 59M report they do not own mutual funds. Half of 59M households that don't own mutual funds get equity exposure from other products.
  • Individual stocks are still the most commonly owned, but adoption of separately managed accounts (SMAs) is growing significantly.
  • 19.4M households report using cryptocurrency. Crypto use has more than doubled from 9.4M households in 2020
Read more
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Current Competitive Environment of Asset Managers & How to Reach More Investors
Exchange-traded funds are among the top 3 investment products that got more popular from 2020, survey finds
SMAs outpace mutual funds for wealthier clients, report shows
Managed Accounts See Highest Growth While TDRFs Sit Still
SMAs top growth among investment products, survey finds
SMAs' Popularity Beat ETFs Last Year, Survey Says
Separately Managed Accounts Grow, Mutual Funds Stagnate, And The Board-Level Competitive Imperative For Asset Managers
Western Asset Probe Could Spell Trouble for Franklin
The Future Of Wealth Management And The Rise Of SMAs
Separately Managed Accounts Grow, Mutual Funds Stagnate, and the Board-Level Competitive Imperative for Asset Managers

Features That Deliver Simplicity: Building for the #1 Driver of Money Movement

EQ Exercise
Trends™ Subscribers Advance Access: August 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. This report is derived from our 2023 qualitative research that looks at what "simplify my finances" means to consumers and why this is #1 driver for moving money. Simplifying finances means different things to different people and few patterns emerge within traditional segmentations. It is influences by a number of things such as online experiences, hassle free user interfaces, easy access to live representatives and a single point of contact.  Simplicity, however, does not necessarily correlate with consolidation and using fewer firms - many consumers would like to do business at “one place,” but aggregation raises concerns.

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Understanding Simplicity in Finance, the #1 Driver of Money Movement

"Direct Indexing Managed Account" (vs. Traditional Managed Products like Mutual Funds, ETFs, SMAs): How to Engage Consumers in the Managed Account Structure of the Future

EQ Concept Test
Trends™ Subscribers Advance Access: July 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. This report is the first module of the 2023 Explore Qualitative Research and looks at Direct Indexing, considered by some to be the managed account product of the future. Read this report to learn more about how consumers understand and feel about direct indexing.

Direct indexing involves buying the individual stocks that make up an index, in the same weights as the index. This is another form of index investing and contrasts to index mutual funds or index exchange-traded funds (index ETFs) that track the index.

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Exploring the Concept of Direct Indexing
Direct Indexing Tax Benefits Trump Personalization for Some
Direct indexing name needs a makeover, report finds
Report examines pros, cons of direct indexing
Confusion Around Direct Indexing
Findings From Direct Indexing Focus Groups
Investors Identify Pros and Cons for Direct Indexing

Stores & Success Metrics 2023: How to Compete for Share of Wallet Given Industry Consolidation and Asset Concentration

IQ Insight Module
Trends™ Subscribers Advance Access: June 2023
Available for license as an individual report: November 2023
The industry continues to consolidate and assets are concentrated at the largest firms. Additionally, consumers have more savings and investing relationships than in the past. All of these dynamics has made it more and more difficult to acquire new customers, capture new assets and increase share of wallet. This report looks at consumer relationships with stores, who is on the leader board for reach, share of wallet, share of assets, and trust. and recommends ways for all the other stores to gain share of wallet despite the headwinds. Bottom line - it is all tied to advice & guidance and cross-selling different account types. Read more
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Stores & Success Metrics: Leaders on the Competitive Battlefield and Key Customer Measures
Millionaire clients are less likely to invest more with current firm, report reveals
How to increase investor share of wallet
Ways To Increase Share Of Wallet As Consumers Spread Assets Across More Firms
Despite perceived benefits, most Americans aren’t working with a financial professional

Portrait™ of U.S. Household Wealth 2023: The Foundation of Market Sizing Reveals the 55+ Opportunity and Wealth Market Targets

Market Sizing
Trends™ Subscribers Advance Access: May 2023
Available for license as an individual report: November 2023

The 2023 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. This report is updated annually. Learn who controls the wealth by age and asset ranges through the Portrait Grid™.
Key finding highlights include:

  • Nearly 130M households control $69.7T in investable assets, with growth in taxable now faster than retirement.
  • Concentration of investable assets is increasing. In 2022, only 12% of total investable assets is controlled by households with <$500K.
  • Households age 55+ control $51.4T. Among households with <$5M, Post-Retirees still dwarf all other lifestages in both asset and household terms.
Read more
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Household Wealth in America Today & '22 - '23 Research Highlights
Decision of when to retire has little to do with how much you’ve saved for retirement, report finds
Investors favoring taxable accounts over IRAs, 401(k)s
How to approach retirement planning for $2M-plus wealth market
Ages 55-Plus Control Three Quarters Of U.S. Investable Assets, But Assets Aren’t Main Driver For Retirement
How to Overcome Your Fear and Enjoy Retirement
70 Trillion Dollar Wealth Transfer: Opportunities and Challenges for Millennials
Ages 55-Plus Control Three Quarters of U.S. Investable Assets, but Assets Aren’t Main Driver for Retirement

Advice & Technology: Behavioral Insights to Inform CapEx Decisions as Advice Sources Proliferate

IQ Insight Module
Trends™ Subscribers Advance Access: April 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. Consumers' approach to financial decision-making is evolving rapidly. They are consulting more sources of information than before, and technology continues to play an increasingly important role in how households interact with financial services firms. However, self-direction is at an all-time low, and paid investment professionals are still the go-to source for close to 50% of U.S. households. A possible implication is the need for firms to develop more advice and guidance solutions that combine in-person and technology support.

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The Role of Advice & Technology in Investing and Saving
Americans Tapping More Sources to Make Investment Decisions
Financial Professionals Gain Ground With DIY Investors, Report Says
Investment Decisions Today: Financial professionals are most influential, with online and employer sources becoming more important
Demand for robos might be cooling, but many are still interested in them, despite a lack of understanding.
Despite perceived benefits, most Americans aren’t working with a financial professional
Advisors urged to “take a look at their book” to tackle advice gap
Should you be a finfluencer?
Investment Decisions Today: Financial Professionals Most Influential, Reliance on Online, Employer Resources, Statements Up

Wealth Transfer: Business-building Strategies as More Families Engage With Inheritances and Trusts

Timely Topic Report
Trends™ Subscribers Advance Access: March 2023
Available for license as an individual report: N/A (only available through subscriptions)

Exclusively available to Trends™ subscribers. Today, nearly two thirds of U.S. households are involved in intergenerational wealth transfer, with an estimated $17.5T changing hands over the next 20 years. Additionally, one in four U.S. households have funded trusts. Obviously there are implications for all financial service firms. This report looks at wealth transfer, family conversations about wealth transfer, who's planning to bequeath and inherit, and the use of trusts. One big takeaway - these topics are no longer just for the wealthy.

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Wealth Transfer: the New Mass Market Opportunity
6 ways we’re doing inheritances wrong
Has the Switch to DC Plans Led to Larger Wealth Transfer Opportunities?
Rise in inheritances lifting wealth management business, study shows
More Americans Are Leaving Inheritances
Increasing number of U.S. households prioritizing wealth transfer
More Americans Are Leaving Inheritances — and It’s Not Just Wealthy People
Has the Switch to DC Plans Led to Larger Wealth Transfer Opportunities?
The Great Wealth Transfer: How Baby Boomers Are Passing on Trillions to Heirs
The Great Wealth Transfer: How Baby Boomers Are Passing on Trillions to Heirs
Not just for rich people: 6 ways we're messing up inheritances

Wants & Pricing 2023: Growing Demand for Access, the Allure of “Free” and Top Performer Firms

IQ Insight Module
Trends™ Subscribers Advance Access: February 2023
Available for license as an individual report: June 2023
Consumers are now placing more importance on pricing when selecting savings and investing providers. In fact, having clear and understandable fees is the #1 want from consumers. Also, approximately 75% dont "understand very well" how firms make money, and an understanding of how providers earn money is strongly linked to trust. Read our highly rated "wants and pricing" report which looks at the top customer wants, customer understanding of pricing, and which firms customers rate as "Top Performers" across these important metrics. Read more
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The Battle Heats Up for Customer Satisfaction
Investing isn’t free. But here’s why 20% of investors think it is
Clients rank clear fees over investment gains, survey shows
‘Clear fees’ cited as most important for financial services firms
Vanguard Bumps Up Account Services Fees, Minimums
Before hiring a financial planner, catch them off-guard with smart questions that extract revealing answers
Should I Pay a Financial Adviser an Assets Under Management Fee?
What Americans Want Most from Financial Services Firms and Top Performer Firms That Deliver on Customer Satisfaction

Household Finance: Quest for Liquidity, the Connection to Workplace Financial Wellness and the Current Competitive Environment

IQ Insight Module
Trends™ Subscribers Advance Access: January 2023
Available for license as an individual report: N/A (only available through subscriptions)
This report examines patterns in household savings, trends in household asset allocation, behaviors that indicate financial wellness, and a key pitfall of most workplace and retail advice experiences. More households are saving more than at any time since 2012, with 30% of households saving 10%+ of income, nearly double 17% in 2012. Consumer use of liquid accounts has increased more than other account types, with the household use of taxable brokerage accounts growing up to 37% of households from 31% in 2021 and 29% in 2020. Of the solid financial behaviors that lead to better asset accumulation, contributing regularly to a retirement savings plan is currently the most difficult to adopt, with only 43% of households reporting that they “have a retirement savings plan and contribute to it regularly." Though having insurance needs covered is another important key indicator of financial wellness, most customer experiences today do not address this possible pitfall—presenting an opportunity to deliver advice more efficiently. Learn more
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The Current State of Financial Wellness Among U.S. Households
Retirement Saving Hardest Financial Habit for Homes to Adopt
5 Key Wealth-Building Financial Wellness Behaviors, and Providers Helping 401(k) Participants Follow Them
5 Steps Toward Financial Wellness
5 financial wellness behaviors that help build wealth
Accumulating Healthy Financial Wellness Behaviors
Why Financial Literacy Programs Fail
5 Financial Wellness Behaviors That Build Wealth and the Companies Whose Clients Get It Right

2022

Money Movement 2022: Competitive Trends in Rollover, Transfers of Assets & Trial

IQ Insight Module
Trends™ Subscribers Advance Access: December 2022

Exclusively available to Trends™ subscribers. Money Movement 2022 looks at how and why investors are moving money between firms, where they are moving to and from, how much they are moving, and the reasons for making the moves. Our analysis includes rollovers, transfer-of-assets (TOAs), and funding new accounts with new deposits.

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Competitive Trends in Money Movement
Recordkeepers Beat Out External Managers for IRA Rollovers
Report: (More) Rollovers Remain with Recordkeepers
IRA Rollover Money Slipping Past Advisors Fast
Simplification is top reason that investors move retirement assets
Study looks at top reasons consumers move investment dollars
The workplace: A goldmine for advisors seeking new assets
Get Money Moving in the New Year! Key Motivators for Trial, Rollovers and Other Money Movement Transactions

Portrait™ of U.S. Household Wealth 2022: Sizing Opportunities from Retirement to High Net Worth and Exploring the Role of Real Estate

Market Sizing
Trends™ Subscribers Advance Access: November 2022
Available for license as an individual report: February 2023
Today, 129M households make decisions $68.6T in investable assets, with 2 of 3 dollars in taxable accounts and the remainder in retirement. The 2022 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. This report is updated annually. Learn who controls the wealth by age and asset ranges through the Portrait Grid™. This research is the foundation of all market sizing at Hearts & Wallets. Use this report to size and refine your target markets using the TAM, SAM SOM methodology. Read more
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U.S. Wealth Trends in 2022
Mass-affluent households miss out on liquidity of taxable accounts, study finds
Where the Money Is: Mass Affluent Households Miss Out on Liquidity of Taxable Accounts, as Younger Households Awaken to Opportunity

Attitudes & Sentiment 2022: Understanding the Retail Investor Mindset and Business Opportunities During Times of High Inflation

IQ Insight Module
Trends™ Subscribers Advance Access: October 2022
Available for license as an individual report: March 2023
A lot is going on! Inflation is at record highs, markets are down, Russia and China are center stage of geopolitical instability, and there is talk of a recession. Just released 2022 survey data reveals the top consumer attitudes, sentiments, concerns and goals, so you can see whats top of mind for your customers and where the opportunities lie. Here are a few stats: 46% of US households have high concern about inflation. And 1/3rd of these consumers are holding more than 90% of their assets in cash as buying power erodes. But more and more consumers feel their advisor is a partner to them, underscoring the value of advice and guidance in the face of the current headwinds. Read more
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Attitudes, Goals and Opportunities During a Period of High Inflation
53% of Savers Who Rely on Workplace Plans Don’t Work with Advisers
Social Security 'bridge,' 100% equities? How to make money last in retirement.
Understanding The Retail Investor Mindset And Business Opportunities During Times Of High Inflation
What’s behind financial planning renaissance?
Inflation No. 1 Concern for Americans with a Third of the “Very Concerned” Nearly 100% in Cash

Engaging Customers and Prospects in Advice: Trends in Pricing and Digital Best Practices (Part 3 of 3 in State of Advice & Guidance 2023)

State of Advice & Guidance
Trends™ Subscribers Advance Access: September 2022
Available for license as an individual report: January 2023
This is the 3rd report of the three-part series, "State of Advice and Guidance for 2023." The other two parts of the series are "Advice That Models Real Life: Structuring Customer Experiences for Inclusivity, Life Events & Taxes" (June 2022), and "Structuring Differentiated Advice Experiences: Balancing Customer Goals, Uncovering Pitfalls and Striving for Scalability" (April 2022). This report focuses on the impact of properly packaging experiences through assigning names and clearly defined value propositions. It also covers current and future pricing of advice experiences, and digital best practices. Read more
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How Advice Engages

Wants & Pricing 2022: What’s Important to Retail Investors, How Pricing Is Changing and How Competitors Perform on Customer Satisfaction

IQ Insight Module
Trends™ Subscribers Advance Access: August 2022
Available for license as an individual report: December 2022
There are a number of "consumer wants" that are experiencing significant jumps in importance - including high quality mobile apps, online tools, and doing business with a well-known leader. Top wants of different customer segments vary significantly. For example, millennial millionaires prioritize quality of internet account access, while boomer millionaires prioritize being unbiased. Learn what your customers and prospects want most from you! Also included - consumers now have a greater awareness of pricing at a time when the top consumer "want" from financial services firms is clear and understandable fees. Learn the potential implications as you price products and services.This report also looks at how the competitive field is getting tighter and how there are fewer "Top Performers" firms on fewer wants. Read more
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What Clients Want and the Firms That Get it Right

Advice & Technology: Opportunities for Hybrid Models, Workplace Resources and Differentiation Among Financial Professionals

IQ Insight Module
Trends™ Subscribers Advance Access: July 2022
Available for license as an individual report: November 2022
This report covers how investors are making investment decisions today, specifically looking at their their reliance on information sources including financial advisors and technology. Consumers of all asset groups want more involvement in investment decisions, but financial professionals are still the most influential source of investing information and advice. Learn more on what it means for you as an asset manager and a distributor. Read more
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What Clients Want and the Firms That Get it Right
Millennials, Gen X More Likely to Turn to Employers for Investment Advice
More Savers Stick with Recordkeeper for IRA Rollovers
Research finds DIY investors continue to rely on financial professionals
Participant Data is Key to Developing Better Financial Wellness Programs
Do-it-Yourselfers Still Look To Financial Professionals
Key Influences on Investor Decisions
Key Influences on Investor Decisions: In a Multi-Source World, Do-it-Yourselfers Use Financial Professionals; Role of Phone Reps Grows

Advice That Models Real Life: Structuring Customer Experiences for Inclusivity, Life Events & Taxes (Part 2 of 3 in State of Advice & Guidance 2023)

State of Advice & Guidance
Trends™ Subscribers Advance Access: June 2022
Available for license as an individual report: January 2023
This report looks at common gaps seen in lower level advice and guidance experiences, and how the leading experiences match the realities and challenges of real life. Topics covered include modeling for spouses, partners, and dependents; employment patterns and changing jobs; unplanned life events; optimizing taxes for the long term, and more. Read more
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Advice That Models Real Life

Investment Products 2022: Growth in Awareness, Online Trading, Use of Robos and How Managed Solutions Help Investors Cope With Volatility

IQ Insight Module
Trends™ Subscribers Advance Access: May 2022
Available for license as an individual report: June 2022
Ownership of managed investment solutions including mutual funds, ETFs and robos grew in the past year. Does this mean investors are now seeking more professional investment management vs. relying on doing it themselves - especially given the current state of the market? Possibly, but individual stocks are now the most widely owned investment type, and trading activity spiked in the past year. This report explores both of these trends in detail, including which segments are driving each, and where the opportunities lie for asset managers, distributors and discount brokerage firms. Additionally, given the current market volatility, we have included a special section on how managed solutions help investors cope with handling market volatility. Read more
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Managed Products: A Recipe for Moderation in Turbulent Trading Times
Study examines how financial advisors can help clients weather market volatility
Call Centers Brace for Complex Questions
Managed Products Offer Consumers Emotional Relief from Market Volatility

Structuring Differentiated Advice Experiences: Balancing Customer Goals, Uncovering Pitfalls and Striving for Scalability (Part 1 of 3 in State of Advice & Guidance 2023)

State of Advice & Guidance
Trends™ Subscribers Advance Access: April 2022
Available for license as an individual report: January 2023
Of all the points along the customer journey, receiving advice is one of the most important. And as consumers increase the number of relationships they have with financial services providers, advice experiences need to do more to remain competitive. This report looks at a number of today's top advice trends, associated best practices, and what you should consider as you structure your advice tools and interactions. Read more
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What is Good Advice?

Stores & Success Metrics 2022: Firms Winning the Customer Wallet and Competitive Opportunities as Consumers Add Relationships

IQ Insight Module
Trends™ Subscribers Advance Access: March 2022
Available for license as an individual report: April 2022
U.S. consumer trust in relationships with financial services firms is at the highest levels since tracking began. Despite this, most continue to reduce their share of wallet with their primary store through opening new accounts and establishing relationships with new firms. In fact, maintaining multiple saving and investing relationships is the predominant consumer behavior. This report examines how many financial relationships consumers now have, which segments seem to be more and less loyal, and what to consider when trying to acquire and retain clients in a time of greater choice and changing behavior. Read more
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Game On! Winners & Opportunities in Loyalty and Share of Wallet
Morgan Stanley, Edward Jones Get Top Marks in Customer Trust
Trust in Financial Services Firms Highest in Over a Decade
Americans Spread Their Money Across More Firms, Survey Finds
Firms Winning American Consumer's Trust And Wallets
Americans Spread Their Money Across More Firms; Trust in Firms Highest in Over a Decade

Crypto, Securities Lending & Fractional Shares: Balancing Access vs. Risk in Innovation

Timely Topic Report
Trends™ Subscribers Advance Access: February 2022
Available for license as an individual report: March 2022
Nearly 50% of US households are interested in or use use fractional shares, approximately 25% use crypto, and 20% use securities-based lines of credit. What some would consider riskier investment products are on the rise -- especially with the younger generations. This report explores consumer trends related to these emerging products. Read more
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Risky Innovations: Crypto, Securities Lending and Fractional Shares
Many Investors Unaware of Risks of Crypto, Fractional Shares
Bitcoin in your 401(k)? Fidelity just introduced it as an option – when it makes sense, and when it doesn’t
How Do PayPal and Venmo's New Crypto Fees Stack Up?
Crypto, Fractional Shares And Securities-Based Credit Lines Go Mainstream
Can bitcoin in 401(k)s fuel prudent investing?
Advisers cautiously upbeat about crypto 401(k) investing with Fidelity imprimatur
Here’s the Robo-Advisor That These Personal Finance Experts Swear By
Enter Crypto, Securities Lending & Fractional Shares
Fidelity to Offer Bitcoin in 401ks
Why financial adviser Ric Edelman says crypto belongs in your 401(k)
Fidelity’s Bitcoin Launch Plan Rebuked by DOL
Three Innovations Balancing Investor Access with Risk Taking: Crypto, Securities Lending and Fractional Shares

The Power of Planning: Proven Benefits That Transform Consumer Financial Outcomes

Timely Topic Report
Trends™ Subscribers Advance Access: January 2022
Available for license as an individual report: February 2022
There is power to planning - planners save and invest more, find fewer financial tasks challenging, have more diversified and appropriately allocated portfolios, and are more confident in their financial situation. This report looks at who plans by generation, lifestage, wealth group and marital status. It also looks at what inspires a consumer to plan and the most common resources used. Read more
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Improving Engagement with Goal Planning
Having a Written Financial Plan Improves Savings and Asset Allocation
Roses, Chocolates And … A Financial Plan? Couples Love Security: Study
How To Retire During A Bear Market
5 Personal Finance Questions to Ask Yourself Now
Only One-Third of Households Report Having a Written Financial Plan
Happily Ever After for Singles: Pair Up with a Written Plan for Better Financial Outcomes

2021

Pain Points & Actions: Using the Biggest Advice Gaps to Jump Start Consumer Conversations

IQ Insight Module
Trends™ Subscribers Advance Access: December 2021
Available for license as an individual report: January 2022
This report explores which financial activities consumers find difficult, which consumer segments find specific activities difficult, and and where the biggest advice gaps are - all based on 2021 data. Also learn which consumers are more likely to see value in paying for advice when tasks are deemed difficult, and how it may help steer your advice pricing models. Read more
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Today's Most Pressing Financial Advice Gaps
'They Shouldn't Feel Alone': Many Investors Struggle With the Emotional Rollercoaster of Market Volatility
More Americans Seeking Help with Financial Tasks
Study: Americans Emerge From Pandemic In Need Of Financial Advice
Financial Situation Changed Due to COVID? Professional Advice Can Help
Filling Today's Advice Gaps
Investors to Shops: We Want Better Digital Disclosures
Biggest Financial Advice Gaps for Americans

Attitudes & Sentiment: Strategies to Engage Investors in the Pandemic-Inspired Financial Awakening

IQ Insight Module
Trends™ Subscribers Advance Access: November 2021
Available for license as an individual report: December 2021
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. Read more
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Growing Consumer Positivity and Millennial Financial Awakening
People Want to Start Spending Again and Inflation Is Ruining It
'Financial Awakening' Raises Questions for Young Investors
Pandemic spurs shift in financial, investing attitudes among millennials, Gen Z
Three in 10 households say COVID-19 changed their attitudes about saving and investing, especially among younger generations
Millennials Saving & Investing Up Since Pandemic Struck
Financial Awakening after COVID-19 & Increasing Interest in Managers of Investment Products

Benefits of Clarifying Financial Advice Categories: How Inside Advice® Grid Increases Trust, Engagement and Market Potential

Fusion Report
Trends™ Subscribers Advance Access: October 2021
This report uses the Hearts & Wallets Inside Advice® Grid as a framework, to examine what consumers who choose different advice and service models want and need. We look at the quality of different types of advice offered across the industry and how advice categories impact customer satisfaction. Learn more
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The Market for Advice: Sizing the Opportunities and Competitive Insights into Satisfaction & Pricing

Drivers of Share of Wallet: The Primacy Premium and the Connection to Retirement Advice

Advanced Analytics Report
Trends™ Subscribers Advance Access: September 2021
Available for license as an individual report: October 2021
This report explores the drivers of share of wallet (SOW). Learn which customers are most likely to invest more, and how being the main source of retirement advice can influence their decision. Also, we cover why SOW is so important competitively and who is leading the race. Read more
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Winning a Larger Share of Your Customer's Wallet
Becoming The Main Source Of Retirement Advice Crucial For Advisors
Clients favor firms that are their main source of retirement advice
Providing Retirement Advice Critical to Growing Share of Wallet
Financial Planning Helps Recordkeepers Stand Out
Analyzing The Best Way To Grow Share Of Wallet & The Primacy Premium
The Single Best Way to Grow Share of Wallet and the Primacy Premium

Robo Usage, Awareness and Trial: Market & Competitive Data to Inspire Innovation, Improve Portfolios and Increase Conversion

Timely Topic Report
Trends™ Subscribers Advance Access: August 2021
Available for license as an individual report: September 2021
Approximately 12 million households in America use robo advisors. Their popularity as is on the rise, and firms across the industry are working hard to win customers and capture share of wallet. This report examines trial to conversion and which offerings are growing fastest. Beyond the competitive landscape, the report also explores who is using robos, how much they are investing, and investor vs. non-investor profiles. Read more
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Who's Winning the Robo Battle? Traditional Firms vs. New Entrants
Big Wealth Brands Battle for Robo-Investor Attention
Who’s Using Robo Advisors?
Robinhood Taps Verge Co-Founder to Run New Media Unit
The Robo Effect on Investor Portfolios and the Competitive Landscape

Expectations from Workplace vs. Retail Advice: Opportunities to Improve Employer-Based Services or Win More Rollovers

EQ Exercise
Trends™ Subscribers Advance Access: July 2021

Exclusively available to Trends™ subscribers. This report "Expectations from Workplace vs. Retail Advice" is sourced from the Hearts & Wallets Explore Qualitative™ Database. It looks at the attitudes of older affluent investors towards financial planning and investment services provided through the workplace compared to those of the retail market. It is part of the broader Explore Qualitative™ Series "Shopping for Advice on Aging Gracefully" - a collection of exercises and concept tests focused on the drivers of older consumers moving money, the changing needs of an aging population, and industry questions about pricing of advice for this segment. Additionally, the report covers various consumer segments on the Inside Advice® Grid to help gain an understanding of behaviors relating to advice and guidance.

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Portrait™ of US Household Wealth 2021: Essential Facts for Sizing Target Markets in an Era of Growing Wealth Concentration

Market Sizing
Trends™ Subscribers Advance Access: June 2021
Available for license as an individual report: July 2021
This report covers the demographic breakdown of household wealth in America. U.S retail investors control $68.3T in investable assets. This is at an all time high but there is an unprecedented concentration of wealth in higher asset households. Learn who controls the wealth by life stage and asset level through the Portrait Grid™. This research is the foundation of all market sizing at Hearts & Wallets. This report covers the demographic breakdown of household wealth in America and features the Hearts & Wallets Portrait Grid™. Learn who controls the wealth by life stage and asset level Read more
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Navigating the New Wealth Landscape as the Mass Affluent Shrinks and the Rich Get Richer
Those With $5M Or More Grabbed 80% Of The Covid Market Run-Up, Hearts & Wallets Says
Mass Affluent Ranks Drop During COVID
Where Did the Mass Affluent Households Go?
Mass Affluent Numbers Shrink as Wealthy Take Bulk of Market Gains
Wealth Concentrates Among $5M-Plus And Older Households: Study
Unsure about investing? Join the club—an investment club.
Where Did The Mass Affluent Go? Wealth concentration accelerates for $5 million-plus and older households in COVID market runup
Where Did the Mass Affluent Go? Wealth Concentration Accelerates for $5 Million-Plus and Older Households in COVID Market Runup

Stores & Success Metrics: The Battle for Customer Loyalty Heats Up as Big Firms Gain Share and Service Models Diversify

IQ Insight Module
Trends™ Subscribers Advance Access: May 2021
Available for license as an individual report: June 2021
Firms across the industry are battling to capture more households and share of wallet. Many are introducing new service models designed to accommodate different asset levels and service demands, and customer outreach during COVID-19 reached a crescendo. But, surprisingly, despite all the efforts across the board, only a few of the largest stores are increasing reach. Unfortunately, consumer trust, intent to invest more and intent to recommend is down, especially with the $2M+ segment. Read more
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Market Power and the Race for Primacy
Young Investors Loving 'Modern Merrill:' Execs
Share of Wallet & Household “Reach” Grows At Leading Financial Firms; Key Trust Metric Declines
Share of Wallet and Household “Reach” Up at Leading Financial Firms; Key Trust Metric Declines, Especially Among Most Affluent Customers

Investment Products & Asset Managers: Rise of Crypto and Online Trading, Sizing the ESG Market and the Need to Refocus on Basics

IQ Insight Module
Trends™ Subscribers Advance Access: April 2021
Available for license as an individual report: May 2021
New brokerage accounts are on the rise, more investors are trading stocks and cryptocurrencies, and environmental, social & governance (ESG) as an investment goal is growing in popularity among some very specific market segments. But, mutual fund and packaged product ownership across all wealth groups is on the decline, consumers struggle to identify their investment goals, and many are moving away from relying on financial professionals. This is especially concerning for lower asset Americans, who are at risk of missing out on creating wealth through safer, professionally managed products. This report looks at trends in online brokerage accounts and trading, the use of cryptocurrencies, investor goals & product ownership, and why getting back to basics may be good for everyone. Read more
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Trends in Trading, Crypto, Product Ownership and Investing Goals
Who invests in crypto? Younger, higher-earning households, research shows
Vanguard, Fidelity Investors Stay Away From Crypto: Survey
Who Uses Cryptocurrencies and Why
Who Uses Cryptocurrencies and Why: Trading Thrills more than Payments

Wants and Pricing: Delivering on Customer Wants, Unpacking Pricing and Rating the Top Performer Firms

IQ Insight Module
Trends™ Subscribers Advance Access: March 2021
Available for license as an individual report: April 2021
This reports covers customer satisfaction ratings on all things important - what they want from the financial firms they do business with and their understanding of the fees they pay for products and services. Additionally, we report on the who ranks as a "Top Performer" firm and who is setting the competitive bar. This annual review of investor "wants & pricing" is one of our most highly rated research packages of the year - one that many consider to be an industry scorecard. Read more
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Customer Wants, Competitive Ratings & Top Performers, and the Problem with Pricing
Clients most satisfied at Ameriprise, Ed Jones, Merrill: Report
Investors Want More Comp Clarity, But 3 of 4 Don’t Get It
Your 401(k) Isn't Free. Here's How to Figure out How Much You're Paying in Fees
Clients Want Pricing Clarity, But Many Aren’t Getting It
Ameriprise Financial Named a Top Performer in Hearts & Wallets Customer Satisfaction Survey
Annual Customer Buying and Satisfaction Ratings Identify Top Performer Firms and Pricing Trends

Retirement & Funding: Ideas for Enhancing Advice as Income Sources Evolve and Target Dates Move Younger

IQ Insight Module
Trends™ Subscribers Advance Access: February 2021
Available for license as an individual report: March 2021
The past year has many investors rethinking their plans. This report explores changes in target retirement ages; aspirations and reality for income replacement rates and the importance of advice; anticipated sources of retirement income for those approaching retirement compared to actual sources for those already retired; and a profile of the "Aspire to Retire by 55" group. Key Findings Include: - Even as more households want to “work full time as long as health permits,” target retirement dates are moving younger. - Ambitions for replacement rates have increased, but assets-to-income ratios show most people are still very unprepared for the end of full-time work. - Future retirees anticipate combining more sources of income than current retirees. The more income sources consumers have, the more value they see in paying for advice. - More households report participating in an employer-sponsored retirement plan. More generous matches increase overall household saving rate, especially at lower income levels. Saving into employer plans is up. - There are about 11M households in the “Aspire to Retire by 55” design target. Well positioned in some ways, these households need help to achieve this goal. Read more
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Retirement Resurgence and What It Means for Your Firm: Younger Target Dates, More Income Sources and the Value of Advice
More Clients Considering Early Retirement, But Are They Ready?
Is 55 the New 65?
Advice Gap: Retirement Dreams Often Divorced from Reality
Research Shows: 401k Participation Rates Increasing & “Pre-Retirees” Getting Younger
Growing Number of Americans Want to Retire Before 65: Study
One in six people now aim to retire before 55
More Americans Want to Retire by 55. How Can FAs Help?
Aspiring to Retire at 55
Amid Savings Deficits, Survey Finds Americans Aim To Retire Younger
Growing Number of Americans Want to Retire Before 65
Weekend Reading for Financial Planners (Apr 10-11)
More Americans retiring early to 'enjoy the senior years' after a year of COVID-19
Trend: More Americans now want to retire early
People Are Aiming to Retire Younger
The FIRE movement: How to retire early with no mortgage debt
Retirement Resurgence: Americans Who “Aspire to Retire by 55;” Anticipation of Increasing Number of Income Sources

Advice & Technology: Examining How Consumers Combine Professionals, Online and Other Advice Sources

IQ Insight Module
Trends™ Subscribers Advance Access: January 2021
Available for license as an individual report: February 2021
As consumers want more involvement in their investment decisions, and delegation has decreased to an all-time low, consumer appetite for “seeking input from various sources” has increased to an all-time high. Those who are blending advice from financial professionals and online sources, first research online and then validate with financial professionals. This report explores the reasons for these trends and potential strategies to match these behaviors. The report also looks at the activities consumers are doing online – what is most common, what is growing, what is shrinking, and what devices (mobile vs. computer) they are choosing for specific types of information. For example, in 2020, engagement with online planning tools and calculators declined at the same time we are experiencing a rise in use of mobile across the board. Behaviors by wealth level and age group suggest on-line planning tools may not be keeping up with usage trends in technology. Read more
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The Evolving Way Consumers Are Engaging with Investment Information and Advice and the Role of Technology
Fewer U.S. Households Delegating Investment Decisions to Professionals
Consumers Want Financial Advice, Not Necessarily From Advisors
What Investors Want...
Fidelity TikTok Video Explains Why Mutual Funds Are Like Burritos
What Investors Want: More Involvement, Multiple Sources of Advice; Dip in Consultation of Financial Professionals

2020

Winning with Savers Today: Innovations for Competitive Advantage as COVID-19 Changes Financial Behaviors

Timely Topic Report
Trends™ Subscribers Advance Access: December 2020

COVID-19 has resulted in increased financial actions by consumers. Savings is on the top of the list for many with one in 5 households creating an emergency fund for the first time. This report looks at who is taking action, what they are doing, and the goals for the various segments of savers. Here are a few of the take-aways: Households whose work was affected by the COVID-19 crisis were more likely to have taken actions than households with no work disruption. Gen-X, Millennials and the New Generation have been much more active with financial responses to COVID-19 than the Silents and Boomers. We have classified savers into five segments beyond the traditional age-based categories that combine behavior, attitudes and household finances. Among the findings, "Big Savers" are the most valuable customers today, but "Aspiring Savers - High Potential" are looking to make changes in their financial lives and could be valuable over the long haul. Investment firms have the greatest reach with the Big Savers and banks have it with the Aspiring Savers - High Potential.

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New Financial Actions Sparked by COVID-19 and the Competitive Environment for Capturing Savers
Pandemic Lessons: The Importance of the Savings Hierarchy
HSAs, an adviser favorite, just don’t get much love
The Way We Save: How advisors can ‘win on the saver spectrum’
2021 Opportunities Based on How Americans Save and Ways Financial Services Firms Can Win on the Saver Spectrum

Attitudes & Sentiment: COVID-19 as a Catalyst for Change in Saving, Investing and Advice Solutions

IQ Insight Module
Trends™ Subscribers Advance Access: November 2020
Available for license as an individual report: December 2020
The Hearts & Wallets Attitudes & Sentiment report annually tracks key consumer sentiments, goals and attitudes that are relevant to financial services firms and their strategic decisions. This year, we examine the impact of COVID-19 – how the initial shock and ongoing reactions have changed the consumer mindset and what it means for savings, investing and advice solutions. One in 3 consumers say “the COVID-19 crisis has changed their attitudes towards saving and investing,” and firms should provide appropriate outreach to this group. Nationally, since the onset of the crisis, consumer optimism regarding their financial futures has bounced back for some but not others. Many are setting goals again but are focused on the short term. And, receptivity to advice is warming with a renewed interest in banking, savings solutions and packaged products. Read more
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How Consumers Are Weathering the Storm: Changes in Attitude and Sentiment After the COVID Shock
Hearts & Wallets Study Shows Workers Want More Personalized Financial Advice
How to make your post-covid vacation fit your financial plans
1 in 3 Americans Have Changed Their Attitudes Toward Saving, Investing and Financial Advice
Four Steps to Realizing Your Emergency Savings Goal
Fidelity TikTok Video Explains Why Mutual Funds Are Like Burritos
1 in 3 Americans Say COVID-19 Has Changed Their Attitudes to Saving, Investing and Financial Advice

Financial Fluency: What Consumer Understanding of the Language of Finance Means for Advice, Retirement and Asset Management

Timely Topic Report
Trends™ Subscribers Advance Access: October 2020
Available for license as an individual report: November 2020
The language of investing is complex. Despite all the efforts within the industry to simplify it and make investing concepts more easily understood, we are failing. Investors are still confused - 81% consumers lack financial fluency. This report looks at the language of investing and who does and does not understand it; how workplace plan participants are particularly challenged; and the implications of confusion and the associated opportunities. Read more
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How Lack of Financial Fluency Underscores the Need for Advice and Packaged Solutions
Should 401(k)s require a test for savers to invest outside of target dates?
Lack of Financial Literacy May Deter Retirement Plan Participation
How Avoiding Complex Financial Terms Can Benefit 401k Plans
Consumers Confused Over ‘Passive Investing’ Save Less, Study Says
Plan Fiduciary Financial Literacy: Keeping It Simple
Watch your language: Advisors should adjust to lack of financial fluency by most investors
Most Americans Fail Financial Fluency Investing Quiz; Consumers Who Are Confused over Competing Definitions of “Passive Investing” Save Less, Use Fewer Investment Products

What Older Americans Want From Workplace Investing: Ideas for Improving Advice & Income Products

Fusion Report
Trends™ Subscribers Advance Access: September 2020
Available for license as an individual report: October 2020
Older Americans are looking for help on a broad range of topics, but most depend on retail sources of advice vs. what is offered through the workplace. Find out why. Learn the biggest complaints, suggestions, and possible solutions for bridging the gap between wants and current workplace offerings. Read more
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How Workplace Advice Is Failing Older Americans & What To Do About It
Where financial wellness falls short
Older Americans Want Retail Advice, Rollovers: Study
Hearts & Wallets report finds participants want advice that their employer-sponsored plans simply can't provide
Older Americans More Receptive to Holistic In-Plan Solutions
6 reasons your pre-retiree employees might actually prefer retail advice
Consumers receptive to leaving money in-plan and getting advice from retail providers
Older Americans Give Thumbs Up: Options for In-Plan Income Solutions and Retail Advice

New Needs & New Entrants: Strategic Moves for Next Generation Innovation in Robos & Advice

Timely Topic Report
Trends™ Subscribers Advance Access: August 2020
Available for license as an individual report: September 2020
Fintech and robo-advisor solutions are everywhere. They have dramatically increased their awareness and trial, but as currently structured, they are not capturing the mass-market. Also, digital advice is not just for early adopters as more Americans are seeking resources that enable more control. The thousands of competitors and new entrants, combined with different user profiles, make it difficult to evaluate where the opportunities lie. This report provides the latest information and data on how investors are blending technology and live advice solutions, where the money is going for new entrants and consumer needs that will likely present future opportunities in fintech. Read more
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Disruptive Needs and the Evolving Competitive Landscape
Roboadvisers make slow progress gaining ground with investors
Who actually uses robo advisors? New data reveals surprising answers
Less than one in 10 U.S. households use robo-advisory platforms
Robos Have Attention. But Not Enough of It: Report
Robo Competition Heating Up as More Americans Gain Digital Aptitude
How Robos Are Gaining Traction By Providing Critical Digital Advice
Wealthy Millennials and Experienced Investors: Where Robos Are Gaining Traction and Strategies to Capture the Mass Market

Helping Consumers Navigate Diverse Situations as COVID-19 Evolves: Responses to Uncertainty, Job Loss and Need for Cash

Timely Topic Report
Trends™ Subscribers Advance Access: June 2020
Available for license as an individual report: June 2020
This second COVID-19 tracking supplement examines the pandemic’s impact to health, work, saving investing and advice behaviors, connecting to core fields from Investor Quantitative™ Database. Over 29 million households have 1 or more partners out of work, which has significantly impact consumer’s finances and attitudes. As a result of the extraordinary levels of unemployment, report findings are weighted for unemployment, in addition to age and assets, to ensure that the voices of the unemployed were counted adequately in the national figures. The report covers financial goals, economic concerns, attitudes toward financial advice and advisors, sources of advice, spending, saving, financial responses, and consumer attitudes toward public policy. Read more
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Consumer Needs in the Era of COVID-19: Generating Cash, Taking Action and Seeking Advice
Sizing the Present: Historical Context and Future Trends
Student loans get cheaper, but college is a big question amid COVID-19
Investors to Shops: We Want Better Digital Disclosures
New study focuses on impact pandemic is having on saving, investing and advice behaviors
COVID-19 U.S. Snapshot: Big Dip in Willingness to Fund College; Health Care Biggest Worry for Unemployed

Portrait™ of U.S. Household Wealth 2020: Sizing the Growing Opportunities with Women, Retirees Seeking Income and Emerging Savers

Market Sizing
Trends™ Subscribers Advance Access: May 2020
Available for license as an individual report: June 2020
The annual Portrait™of U.S. Household Wealth gives you the power to size segments of U.S retail investors and understand the demand for solutions in the context of the total market. This sizing report provides new data on consumer households and the assets they control by age, wealth groups, lifestage and generation, drawn from government resources and the Hearts & Wallets Investor Quantitative™ Database. This year's report features market sizing on women, the retirement income market and emerging savers. Read more
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Sizing the Present: Historical Context and Future Trends
Women taking bigger role in family finances, despite men: Report
Retirement-Age Households Show a ‘Chunk or Nothing’ Withdrawal Pattern
Women Say They’re in Charge of Finances, But Male Partners Often Disagree
Here’s why women’s money decisions will shape the future for the U.S.
He Said, She Said: One Third of Coupled Women Say They’re in Charge of Financial Decisions; Only 5% of Male Partners Agree

Explore Concept Test: “Elder Financial Care” aka Periodic vs. Subscription Pricing

EQ Concept Test
Trends™ Subscribers Advance Access: May 2020

Exclusively available to Trends™ subscribers. “Elder Financial Care” provides insights into the future dynamics of periodic vs. subscription. This concept test provokes price discovery by first presenting two separately priced options with distinct features and then a blended option with ambiguity in payment mechanisms. Segmentation is by desired scope of advice among older, affluent investors who are shopping for advice.

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Solutions for Aging Well: From Real Estate to Elder Financial Care

Impact of COVID-19 on Saving, Investing and Advice: Executive Highlights from March 25-30 Tracking Data

Timely Topic Report
Trends™ Subscribers Advance Access: April 2020
Available for license as an individual report: April 2020
This special tracking appendix examines the impacts of the COVID-19 crisis on U.S. consumer finances, attitudes and behaviors. This just-fielded data reveals impacts by generation, asset level, and work and health status. The analysis looks at income and spending cut-backs, changes in goals and financial actions, changes to investment mix and more. Read more
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How the COVID-19 Crisis is Impacting Saving, Investing and Advice
Pandemic Reveals Overwhelming Need for Financial Wellness Programs
Millennials hit hardest in this economy, report says
COVID-19 Financial Woes: Big Drops in Millennials Saving for a Home and Gen Xers Saving for Children’s College

Wants & Pricing: Competition Heats Up as Consumers Seek Multi-Channel Access and Pricing Clarity

IQ Insight Module
Trends™ Subscribers Advance Access: March 2020
Available for license as an individual report: April 2020
Examine pricing trends and the importance of customer wants for firms and financial professionals. In this report, U.S. households rate their top two financial services providers on 27 attributes for 5 key service dimensions and 3 pricing measurements. Satisfaction ratings include customer ratings for the top 24 providers nationally. Top Performer firms have ratings from their customers on top wants distinctly higher than customer ratings of other firms. Read more
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Life After “Free”: Future of Pricing and Competitive Performance on Top Wants
What do women want from their financial advisers? Straight talk, clear explanations, and lower fees, for starters
What Women 50+ Want From Financial Advisers — Much More Than Men
Clients don’t grasp fees, and that’s bad for business
Many Long-term Investors Are Now First-time Financial Advice Seekers
Is it bad that clients don't understand how financial services providers earn money?
Clients Want More Access to Financial Advice Across More Channels
What Are Clients Asking For Today? More Access, More Mobile
Ameriprise Financial Named "Top Performer" in Customer Satisfaction Ratings
Access Demand Across Consumer Touchpoints Escalating for Financial Services Providers

Pain Points & Actions: How Helping on the Biggest Difficulties Can Unleash Multiple Consumer Actions

IQ Insight Module
Trends™ Subscribers Advance Access: February 2020
Available for license as an individual report: March 2020
Understand 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. Read more
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The Domino Effect: Multiple Pain Points, Seeking Help and Taking Action
The Power of Multiples: How to Reduce Financial Pain Points
The Power of Multiples: How to Reduce Financial Pain Points

Attitudes & Sentiment: Consumer Beliefs to Guide Strategic Decisions and New Product Development

IQ Insight Module
Trends™ Subscribers Advance Access: January 2020
Available for license as an individual report: February 2020
Get the full picture on consumer goals, sentiments, concerns and attitudes toward saving and investing to guide strategy and inform decisions. Read more
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What Consumers Care Most About: Now vs. Later & Implications for Business Strategies
Forget Retirement. 39% of Workers Want Help With Student Loans
Debt, Saving & Taxes: Can employers play a role in the management of student loan repayment?
The UN and AARP Team Up for Age-Diverse Workforces
Debt, Saving and Taxes: Role of Employers in Student Loan Repayment, Desire to Save More, and Impact of State and Local Taxes (SALT), New Report

Explore Concept Test: “Home Conversion Mortgage” aka Reverse Mortgage

EQ Concept Test
Trends™ Subscribers Advance Access: January 2020

Exclusively available to Trends™ subscribers. “Home Conversion Mortgage” aka Reverse Mortgage explores awareness and receptivity to using mortgages for aging in place, employing a disguised name to avoid pre-conceived notions about reverse mortgages.

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Solutions for Aging Well: From Real Estate to Elder Financial Care

2019

Trust Drivers: Building Retail Investor Trust in the New Choice-Driven Marketplace

Advanced Analytics Report
Trends™ Subscribers Advance Access: November 2019
Available for license as an individual report: November 2019
This report examines key drivers of investor trust 2019, highlighting opportunities for firms to increase low trust and further enhance existing trust. This trust roadmap is build upon a regression analysis that assessed over 90 variables as possible influencers of trust in specific saving, investing and advice relationships. Read more
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Establishing Investor Trust Today
What Builds – or Busts – Investors' Trust?
Investor Trust: Drivers, Builders and Busters
What Really Drives Financial Trust?
How to Improve Trust: Top 10 Investor Trust Drivers, Trust Builders & Busters

Investment Products & Asset Managers: How a Mutual Fund Revival Can Overcome Confusion to Get Consumers Investing Again

IQ Insight Module
Trends™ Subscribers Advance Access: October 2019
Available for license as an individual report: October 2019
This report analyzes U.S. household asset allocation, product types, online brokerage and awareness of asset managers. Learn about the dynamics between high cash and investor confusion. The last third of the report taps into 30 metrics that track asset managers to reveal consumer-reported awareness of shareholder awareness and top performer asset managers. Read more
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Over Their Heads and Holding Cash: Consumer Trends in Investment Products
Getting Consumers Investing Again
Get Consumers Investing Again: $10T Sitting in Cash; Break Through “Double Confusion”

Wealth Transfer & Family Discussions: Growing Generosity, Desire to Discuss, and Benefits of Partner Planning for Retirement

Timely Topic Report
Trends™ Subscribers Advance Access: August 2019
Available for license as an individual report: September 2019
This report analyzes household involvement in inheritances, incidence of small funded trust accounts and impact on a variety of attitudes and wants. Find out what types of family conversations about money are occurring and who is driving them. See quantifiable benefits of partner retirement planning. Read more
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Money Talks: Wealth Transfer, Family Discussions and Partner Planning
Investors Want Help Talking Inheritance. Shops Can Provide: Study
Inheritance plans still a needlessly taboo topic
Great Expectations for Inheritances
Great Expectations for Inheritances; Positive Impacts of Partner Planning in Wealth Transfer

Money Movement: Tap into Consumer Motivations to Drive Trial and Transfers

IQ Insight Module
Trends™ Subscribers Advance Access: July 2019
Available for license as an individual report: August 2019
This report provides actionable insights and greater visibility into transaction dynamics both at origin and destination for a full picture of opportunities and potential threats. Transactions covered include new deposits in new accounts, transfers, rollovers and cashouts from employer plans. Life events and the factors motivating money movement are analyzed. Read more
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Easy and Beyond: Trends in Trial, Rollover and Advice
Money Talks: Wealth Transfer, Family Discussions and Partner Planning
Top Goal of 401k Money Movers: Simplify Finances
Why Do Participants Roll Out of 401(k)s?
Simplification Trend Drives Money Movement as Younger Consumers Take the Lead in Transactions

Inside Advice® Grid: Consumer Feedback on the Framework That Empowers Consumer Choice

Timely Topic Report
Trends™ Subscribers Advance Access: June 2019
Available for license as an individual report: June 2019
This report is exclusively for Trends Subscribers. It covers consumer trust, pricing and competitive trends by category on Inside Advice® Grid, the framework for classifying advice and guidance experiences developed through Inside Advice® Benchmarking, the industry's most comprehensive benchmarking of advice and guidance experiences, and extensive consumer testing. Availability for license by Selected Report subscribers is expected sometime in H1 2020. Learn more
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Easy and Beyond: Trends in Trial, Rollover and Advice
Busting Robo Myths, Reducing Confusion and Increasing Trust
What Do Domino’s Pizza and Workplace Retirement Plans Have in Common?
Shop Around: Secrets of Success
Market Sizing and 7 Factors Driving Advice Buying During Change
Ringing in the New Year with Tech and Advice Insights
Delivering on the Full Promise of Advice and Guidance

Retirement & Funding: Mix it Up! Calling for Personalized Recipes Blending Part-time Work, Creative Approaches to Real Estate, and New Progress Measures

IQ Insight Module
Trends™ Subscribers Advance Access: May 2019
Available for license as an individual report: June 2019
Trends covered in this report include changes in the age of stopping work, working part-time, the role of real estate as both a big spending type and an asset. The importance of human capital and blending income sources comes to life in a pre/post-retirement spending analysis, metrics on changes in consumer saving behaviors, and discussion of shortcomings of traditional retirement preparedness metrics. Read more
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What Do Domino’s Pizza and Workplace Retirement Plans Have in Common?
Preretirees aren’t being realistic about expenses in retirement—and it’s not just health care
Here’s the Reality About What We’ll Spend in Retirement
Not-Yet-Retirees Miscalculate Retirement Income
The Finance of Longevity
Opportunities for Highly Personal Retirement Income Recipes

Stores & Success Metrics: Redefining Success Measures in a Marketplace of Multiple Relationships and Lower Share of Wallet

IQ Insight Module
Trends™ Subscribers Advance Access: May 2019
Available for license as an individual report: June 2019
This report covers trends in consumer relationships with their saving and investing "stores," or where they "buy" investing and advice. Data include number of relationships, reach and asset share of specific stores, trust, intent to recommend and intent to invest more, overall by store. Read more
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Shop Around: Secrets of Success
Investors Divvy Up Assets Among More Providers, Pushing Shops to Adapt
Edward Jones, Charles Schwab, Morgan Stanley Among Most Trusted by Consumers
Share of Wallet at Leading Financial Services Firms Drops as Multiple Relationships for Consumers at All-Time High
Share of Wallet at Leading Financial Services Firms Drops as Multiple Relationships for Consumers at All-Time High

Explore Exercise: Motivations to Move Cash into Investments

EQ Exercise
Trends™ Subscribers Advance Access: March 2019

Exclusively available to Trends™ subscribers. This Explore Qualitative™ Report examines the top reasons consumers say they keep cash, and what could motivate them to move cash into investments. It is an Explore Exercise, meaning it is a structured exploration of a topic that is emerging as strategically important to help identify future actions. The series of which this report is part, Shopping for Advice on Aging Gracefully, explores the increase in older consumers moving money, changing needs of an aging population, and industry-level questions about pricing of advice and high levels of cash. The demographic for this series is investors ages 53-70 with >$500K investable assets (>$250K outside workplace) who are actively involved in money movement, segmented by Desired Scope and Service Ranges on Inside Advice® Grid. As with all Explore Qualitative™ Reports, the underlying data in this report are consumer comments.

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Show Me the Money
Consumers Share Six Top Reasons for Keeping a Cash Stash…and What Would Motivate them to Invest
Fear Factor: Shops Work to Get Skittish Savers Comfortable With Investing
Consumers Share Six Top Reasons for Keeping a Cash Stash and What Would Motivate Them to Invest

Income & Net Worth: Ideas to Drive Consumer-centric Innovation by Helping with Personal Headwinds

IQ Insight Module
Trends™ Subscribers Advance Access: March 2019
Available for license as an individual report: May 2019
This section of the IQ Database covers the foundation of household finance. It begins with employment, since the ability to deploy human capital for income in labor markets is the foundation of wealth accumulation for most people. Written for industry practitioners rather than academics, this report uses national statistics to set context, analyzes lifestage, investable asset segments, and specific groups where appropriate, such as households with one or more partners working "gigs," and includes commentary on implications for saving, investing and advice. This report covers spending, by type, and saving, to complete the picture of household budget. Statistics and analysis of debt and real estate round out the picture of consumer household finance. Read more
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Show Me the Money
Brokerage accounts are becoming more popular—here’s when you should open one
Gig Workers Receptive to Financial Advice
Gig workers would welcome some financial advice
How your company may be hurting your retirement savings
Tailoring Financial Advice Solutions to Address Personal Adversities of Diverse Consumer Groups
Tailoring Financial Advice Solutions to Address Personal Adversities of Diverse Consumer Groups

Explore Concept Test: "Financial Advice Menu" and Pricing

EQ Concept Test
Trends™ Subscribers Advance Access: February 2019

Exclusively available to Trends™ subscribers. This Explore Qualitative™ Report examines how investors want to access and pay for various pieces of financial advice and service. It is an Explore Concept Test, meaning it reveals consumer reactions to a product or service that could be commercialized soon or is newly in-market. The series of which this report is part, Shopping for Advice on Aging Gracefully, explores the increase in older consumers moving money, changing needs of an aging population, and industry-level questions about pricing of advice and high levels of cash. The demographic for this series is investors ages 53-70 with >$500K investable assets (>$250K outside workplace) who are actively involved in money movement, segmented by Desired Scope and Service Ranges on Inside Advice® Grid. As with all Explore Qualitative™ Reports, the underlying data in this report are consumer comments.

Read more
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Market Sizing and 7 Factors Driving Advice Buying During Change
Ringing in the New Year with Tech and Advice Insights
Schwab Exec: Subscription Advice Models 'Underrated'
Pershing Rolls Out New Pricing for RIAs
Financial Advice: Consumers Weigh in on Subscription Pricing, Flat Fees and Other Pricing Options

Portrait™ of U.S. Household Wealth 2019: Market Volatility and the Enduring Value of Consumer Households

Market Sizing
Trends™ Subscribers Advance Access: January 2019
Available for license as an individual report: February 2019
This highly sought-after report is Hearts & Wallets' annual market sizing study. The Portrait Grid™ is the foundation for sizing market opportunities. Gain actionable estimates of households and investable assets for the addressable U.S. retail investor market. Size by lifestage and generation, or with fact-based sizing exercises on personal advice shoppers. This report draws from the Hearts & Wallets IQ Database, which contains consumer buying pattern insights on 45,000 U.S. households, as well as U.S. Census Bureau, Survey of Consumer Finances, Federal Reserve Flow of Funds and Hearts & Wallets analysis. Read more
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Market Sizing and 7 Factors Driving Advice Buying During Change
Here Come The Power Savers
RESPECT for Younger U.S. Households Whose Power Saving Represents over Half Their Total Asset Gains in Past Year

2018

Advice & Technology: Beyond Traditional Market Models, Receptivity to Professional Advice and the Mobile Payments Connection

IQ Insight Module
Trends™ Subscribers Advance Access: November 2018
Available for license as an individual report: December 2018
This report uses the traditional three-point spectrum from self-direction to delegation as a springboard for a deeper examination of consumer behaviors using 15 sources of advice. The analysis at reliance on each source reveals that stated preference and behavior often diverge. The findings quantify "hybrid" users of advice, meaning consumers who use both online and people, tracking growth nationally, and provides current statistics for 36 cohorts of age and investable asset groups. Digging deeper into use of technology, the report tracks 10+ online activities, by computer and mobile. This report analyzes reliance on 15 sources of saving and investment information and advice, and 13 online activities by device. This year's report includes a special section that analyzes the connection between mobile payments and use of mobile for saving, investing and advice. Read more
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Ringing in the New Year with Tech and Advice Insights
The rise of the DIY investor
Do You Take Venmo? Mobile Pay Poised to Disrupt Investment Industry: Report
Fewer Investors Want To Be On Their Own, Study Says
Investors Rely on 401(k) Providers the Most for Financial Advice
Going Solo? Not When It Comes To Investment Advice
More Investors Use Paid Investment Pros, Fewer “Go Solo”; Rich and Young Mostly “Hybrid” Online and Advisors

State of Advice & Guidance: Actionable and Integrated Advice

State of Advice & Guidance
Trends™ Subscribers Advance Access: November 2018
Available for license as an individual report: January 2019
This report presents findings from the latest cycle of Inside Advice® Benchmarking. It includes the popular Top 10 Trends in advice and guidance, a resource for many senior management discussions with key insights, trends and best practices on financial wellness, personalization, pricing and other findings. This report presents aggregated benchmarks by service level and selected analysis of workplace vs. retail. Read more
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The Good, the Bad and the Ways to Create Better Advice Experiences
State of Financial Advice: This benchmarking report tracks top trends and industry best practices
Financial advice differs from retail to workplace
How the ‘Consumer Experience’ Fares in 401k Advice
What Distinguishes The Best Advice?
Annual State of Advice: What Distinguishes the Best Advice, Wide Variations in Recommendations

Portrait™ of U.S. Household Wealth 2018: Essential Building Blocks to Empower Strategy & Prioritization

Market Sizing
Trends™ Subscribers Advance Access: January 2018
Available for license as an individual report: March 2018
Know your market. This highly sought-after annual market sizing provides estimates for current and projected total households and investable assets for the addressable U.S. retail investor market. These essential building blocks help to prioritize initiatives. The analysis draws from government data, Hearts & Wallets Investor Quantitative™ Database fields and expert Hearts & Wallets proprietary analysis. Learn more
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Sizing for Success
Report Reveals Savings Strategies and Products Needed
Savings Is Decreasing Number of Americans in Lowest Asset Group
Report: U.S. Households Gaining In Investable Assets: The American Dream is alive and well
Drawing A Blueprint For Wealth
American Families with Least and Most Investable Assets Make Strides Over Past Four Years
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