Celebrating 20 Years of the J.D. Power U.S. Full-Service Investor Satisfaction Study
by Michael Foy on Feb 17, 2022 12:59:44 PM
FSI is the longest-running and most in-depth, independent survey of clients whose investments are directed by an advisor. J.D. Power has provided clear, objective intelligence about this group of investors for two decades and the study has undergone a number of redesigns to innovate a …
Wirehouse Wealth Management Firms Struggle to Keep Advisors Satisfied through Pandemic and Beyond
by Michael Foy on Jul 9, 2021 10:34:46 AM
Despite the massive, industry-wide disruption caused by the COVID-19 pandemic, booming financial markets and significant gains in production have boosted overall financial advisor satisfaction this year. But not all advisors are feeling the warm glow of support from their firm. Accord …
Financial Advisors and The Effective Use of Social Media Channels
by Michael Foy on Jun 22, 2021 7:58:31 AM
Merrill Lynch Wealth Management recently announced that it was revamping its training program for 3,000 trainee brokers, including placing a ban on cold calling and expanding the initiative’s accessibility to attract more diverse talent. Participants will be directed to use internal r …
Digital Reliance For Financial Advisor Client Interactions
by Michael Foy on Jun 2, 2021 9:47:43 AM
According to the 2020 J.D. Power Financial Advisor Satisfaction Study, the single most critical KPI driving advisor satisfaction and loyalty was “technology offered by my firm has improved.” Advisor reliance on technology to manage all aspects of their practice has been growing for ma …
Wealth Weekly Insights: Understanding investor values and specialized needs
by Michael Foy on May 13, 2021 8:19:25 PM
According to the recently released J.D. Power 2021 Canada Full-Service Investor Satisfaction Study, Millennials and Gen Z1 investors who strongly believe their investment firm is committed to ESG (environmental, social and corporate governance) investing are twice as likely to increas …
Nearly Half of DIY Investors Don’t Completely Understand Their Fees
by Michael Foy on May 5, 2021 9:50:45 AM
According to the recently released J.D. Power 2021 U.S. Self-Directed Investor Satisfaction Study, nearly half (46%) of DIY investors don’t completely understand their fees, despite virtually all major firms having eliminated per trade commissions. The lack of transparency around how …
Online Brokerage Firms Strain under Weight of New Investor Surge
by Michael Foy on Apr 30, 2021 10:04:51 AM
With more than 10 million new brokerage accounts opened in 2020 as mainstream investor interest skyrocketed during the pandemic, retail brokerage firms struggled to deliver a seamless customer experience. According to the J.D. Power 2021 U.S. Self-Directed Investor Satisfaction Study, …
Financial Planning Software Remains Single Most Important Technology Tool For Advisors
by Michael Foy on Apr 28, 2021 12:43:19 AM
According to the J.D. Power 2020 U.S. Financial Advisor Satisfaction Study, Financial Planning software remains the single most important technology tool for advisors, with 72% rating it as Very Important. Despite the proliferation of new technologies competing for firms’ investment, …
How Wealth Firms are Failing Next-Gen Beneficiaries
by Michael Foy on Mar 25, 2021 1:28:22 PM
According to the upcoming 2021 J.D. Power U.S. Full-Service Investor Satisfaction Study, more than two-thirds (68%) of investors with a next-generation beneficiary have not been asked by their advisor about that beneficiary’s investment needs. This is a huge missed opportunity for the …
Should Subscription-Based Investment Pricing Replace Full-Service Fee Structures?
by Michael Foy on Mar 18, 2021 1:11:34 PM
Nearly three quarters (73%) of investors under 40 find subscription-based pricing "somewhat" or "much" more appealing vs. their current fee structure, according to the upcoming 2021 J.D. Power U.S. Full-Service Investor Satisfaction Study. Firms hoping to appeal to younger investors s …
J.D. Power Wealth Data Sneak Peek: Firms Fall Short on ESG
by Michael Foy on Mar 11, 2021 12:36:51 PM
According to the 2020 Capgemini World Wealth Report, over one-quarter (27%) of all High Net Worth Investors and nearly half (49%) of those under 40 expressed an interest in ESG investing. Yet according to the upcoming 2021 J.D. Power U.S. Full-Service Investor Satisfaction Study, just …
Intergenerational Wealth Transfer Remains an Unsolved Challenge for the Industry
by Michael Foy on Feb 25, 2021 10:33:03 AM
Data from J.D. Power's Full-Service Investor research finds that intergenerational wealth transfer remains an unsolved challenge for the industry. While 74% of Boomer full-service investors reported they have a named next-generation beneficiary, just 28% said their advisor had asked a …