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