Financial Services

From the Vault: Key Insights from J.D. Power Wealth Research

The J.D. Power Wealth Management Platform addressing distinct investor styles, their channel-level experiences and the advisors who serve them. This platform is powered by the voices of over 21,000 investors and advisors per year, a collection of nearly 20 years of useful feedback and an unrivaled team of industry, digital and customer experience experts.

Following are key insights from J.D. Power's Wealth Management Research

  • Female Traders: Women are less represented among U.S. DIY investors (43% vs. 57% male) and are even a smaller share of active traders (25% vs. 75% male among DIYs with with 36+ trades per year). Brands like Robinhood and others that have been focused on traders need to better understand unique drivers of female interest and engagement as well as adding greater capabilities for those (male and female) looking for more support, advice and guidance.  

  • Mass Market Wealth Management: The average Walmart customer is female and slightly less affluent than U.S. general population, two segments that are underrepresented among traditional wealth providers (and fintechs). The average household income for a Walmart customer is $76K vs. $101K for U.S. self-directed investors (and of course higher for advised). While Walmart will most likely focus on capabilities related to cash management, the mass market clearly needs help with issues including planning for retirement.
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