Advice & Technology: Opportunities for Hybrid Models, Workplace Resources and Differentiation Among Financial Professionals
Order Report - Advice & Technology: Opportunities for Hybrid Models, Workplace Resources and Differentiation Among Financial Professionals
Report Overview
This report covers how investors are making investment decisions today, specifically looking at their their reliance on information sources including financial advisors and technology. Consumers of all asset groups want more involvement in investment decisions, but financial professionals are still the most influential source of investing information and advice. Learn more on what it means for you as an asset manager and a distributor.
Key Findings
- Consumers of all asset groups want more involvement in investment decisions, but preference differs from behavior, especially for households who profess self-direction.
- Use of investment information and advice sources other than “myself” is growing, with online, employers and statements showing the biggest increases.
- Financial professionals are still the most influential source of investing information and advice, but consumer reliance on them has shifted from primary to usually.
- Certifications and proactivity are becoming more important to consumers who use financial professionals. Expectations are higher for paid investment professionals on more distinctive wants.
Pricing
Choose access licenses for your team or organization in ways that support how you collaborate.
NOW AVAILABLE TO TRENDS SUBSCRIBERS.
Available for license as an individual report beginning November 1, 2022.
Online only (1-20 log-ins) - $6,000
Online with slide download (1-50 logs-ins) - $9,500
Online with slide download, PPT & PDF (unlimited log-ins) - $16,000
Sample Report Pages
Table of Contents
Methodology 1
Key Findings & Implications 2
Favorite Statistics 3
Related Research 4
Key Findings 5-41
1: Consumers of all asset groups want more involvement in investment decisions, but preference differs from behavior, especially for households who profess self-direction. 5-12
1.1: Exhibit 1.1 — Investment Decision Process Preference: National, by Year
5
1.2: Exhibit 1.2 – Investment Decision Process Preference: by Investable Assets, by Year
6
1.3: Exhibit 1.3 – Investment Decision Process Preference: by Generation, by Year
7
1.4: Exhibit 1.4 – Investment Decision Process Preference: by Generation, 2021
8
1.5: Exhibit 1.5 – Crosstab of Investment Decision Process Preference by Reliance on Financial Professionals (excluding Accountants): National, 2021
9
1.6: Exhibit 1.6 – Crosstab of Investment Decision Process Preference by Reliance on Myself: National, 2021
10
1.7: Exhibit 1.7 – Crosstab of Reliance on Paid Investment Professionals by Reliance On Myself: National, 2021
11
1.8: Exhibit 1.8 – Current vs. Potential Market Size in Households by Inside Advice® Grid Category: Households With <$5M, 2021
12
2: Use of investment information and advice sources other than “myself” is growing, with online, employers and statements showing the biggest increases. 13-25
2.1: Exhibit 2.1 – Sources for Investment Information and Advice – Reliance: National, by Year
13
2.2: Exhibit 2.2 — Count of Sources for Investment Information and Advice – Reliance: National, 2021
14
2.3: Exhibit 2.3 — Count of Sources for Investment Information and Advice – Reliance, 7+ Sources: by Generation, by Investable Assets, 2021
15
2.4: Exhibit 2.4 – Sources of Information and Advice – Reliance, Friends: by Generation, 2021
16
2.5: Exhibit 2.5 – Sources of Information and Advice – Reliance, Family: by Generation, 2021
17
2.6: Exhibit 2.6 – Sources of Information and Advice – Reliance, Online*: National, by Year
18
2.7: Exhibit 2.7 – Sources of Information and Advice — Reliance, Online*: by Generation, by Year
19
2.8: Exhibit 2.8 – Sources of Information and Advice – Reliance, Employer*: National, by Year
20
2.9: Exhibit 2.9 – Sources of Information and Advice – Reliance, Employer*: National, by Year
21
2.10: Exhibit 2.10 – Sources of Information and Advice – Reliance, Employer*: by Investable Assets, by Generation, 2021
22
2.11: Exhibit 2.11 – Crosstab of Use of Employer Benefits – 401k, 403b or Other Employer Sponsored Retirement Plan by Reliance on Employer*: National vs. Millennials, 2021
23
2.12: Exhibit 2.12 – Sources of Information and Advice – Reliance, Employer*: by Store (Workplace Business Only), 2021
24
2.13: Exhibit 2.13 – Crosstab of Attitude “I am comfortable leaving money in a retirement plan sponsored by a company where I no longer work” by Reliance on Employer*: National, 2021
25
3: Financial professionals are still the most influential source of investing information and advice, but consumer reliance on them has shifted from primary to usually. 26-31
3.1: Exhibit 3.1 – Sources for Investment Information and Advice – Reliance: National, 2021
26
3.2: Exhibit 3.2 – Sources of Information and Advice – Reliance on Paid Investment Professionals NET and Other Financial Professionals NET*: National, by Year
27
3.3: Exhibit 3.3 – Sources of Information and Advice – Reliance on Financial Professionals: National, by Year
28
3.4: Exhibit 3.4 – Sources of Information and Advice – Reliance, Paid Investment Professionals NET*: National, by Year
29
3.5: Exhibit 3.5 – Sources for Information and Advice – Paid Investment Professionals NET*: by Generation, by Year
30
3.6: Exhibit 3.6 – Sources for Information and Advice – Reliance, Paid Investment Professionals NET*: by Investable Assets, by Year
31
4: Certifications and proactivity are becoming more important to consumers who use financial professionals. Expectations are higher for paid investment professionals on more distinctive wants. 32-41
4.1: Exhibit 4.1 – Importance of Wants From Financial Professional: National, by Year
32
4.2: Exhibit 4.2 – Importance of Wants From Financial Professional: National, 2021 vs. 2019
33
4.3: Exhibit 4.3 – Importance of Wants From Financial Professional: Use Paid Investment Pro vs. Other Fin Pro, 2021
34
4.4: Exhibit 4.4 – Importance of Top Ranked Wants From Financial Professional: by Use of Financial Professionals, by Year
35
4.5: Exhibit 4.5 – Importance of Additional Wants From Financial Professional: by Use of Financial Professionals, by Year
36
4.6: Exhibit 4.6 – Importance of Wants From Financial Professional Among Consumers Who Use Paid Investment Professionals “Primary” or “Usually”: by Investable Assets, by Lifestage, 2021
37
4.7: Exhibit 4.7 – Use of Any Fin Pro as Source of Information and Advice: by Store, 2021
38
4.8: Exhibit 4.8 – Use of Any Paid Investment Professional for Information/Advice: by Store, 2021
39
4.9: Exhibit 4.9 – Use of Investment Professional at That Store: by Store, 2021
40
4.10: Exhibit 4.10 – Comparison of Investment Professional Usage: by Store, 2021
41
Data Dictionary 42-46
Appendix 47
Glossary 48
Name:
Email:
Company:
Phone:
Signature:
Date: