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 …
Financial Advisors & AI - Low Use but High Value
by Michael Foy on Feb 18, 2021 11:45:35 AM
Recently, an article entitled "Less Than a Third of Wealth Managers Scaling AI Across Their Businesses" in ThinkAdvisor cited Accenture research findings that highlight the challenges of AI execution. However, there is also evidence of value already being delivered to advisors. Eighty …
How Online Brokers Can Help Protect Investors From Costly Mistakes
by Michael Foy on Feb 10, 2021 4:58:55 PM
Do-it-yourself online brokerage firms have been laser-focused on delivering convenience, speed and accessibility, but less so on providing the necessary education or guidance to empower investors to make smart — not just fast — trades. That could hurt them.
Can mobile trading apps be too easy to use?
by Michael Foy on Feb 3, 2021 11:36:56 AM
In the 2020 J.D. Power Wealth Management Mobile App Satisfaction Study, Robinhood performed much better than traditional online brokerage rivals on ease of trading, with 75% of Robinhood clients rating trading on their app as “very easy”, top among all firms. Conversely, just 61% of R …
Wealth Platform Outages and Client Loyalty
by Michael Foy on Jan 27, 2021 11:58:26 AM
Platform outages impact client loyalty. In the 2020 J.D. Power U.S. Self-Directed Investor Satisfaction Study, investors who experienced one or more online outages over the prior 12 months were about twice as likely to consider leaving their current provider as those who did not exper …
J.D. Power Wealth Experts and Research in the News
by Michael Foy on Jan 14, 2021 1:41:00 PM
J.D. Power Wealth Management team has a variety of researchers, analysts, experts, and executives available to provide data and commentary on industry trends, syndicated research and more in the Wealth Management sector. The J.D. Power Wealth Management Platform addressing distinct in …
Thought Starters: Findings from J.D. Power's Wealth Research
by Michael Foy on Jan 14, 2021 1:32:10 PM
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 …