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 controversial practices like payment for order flow might financially impact investors only exacerbates uncertainty and erodes brand trust. DIY Investors that do completely understand their fee structure have significantly higher Trust in their brand vs. those that do not understand at all (779 vs. 633).
The J.D. Power U.S. Self-Directed Investor Satisfaction Study, which was redesigned for 2021, measures self-directed investors’ satisfaction with their investment firm based on performance in seven factors (in order of importance): trust; digital channels; the ability to manage wealth how and when I want; products and services; value for fees; people; and problem resolution. It is the most established and comprehensive, independent survey of do-it-yourself investors available.
J.D. Power has provided insights on this unique group of investors for more than 15 years—from the time that trades were over $12 a piece. Join our mailing list to get updates on the study and learn how you can subscribe to the 2022 study.
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