Most Americans (78%) agree that the widespread adoption of technology within financial services is a positive development for the industry.
Prefer traditional Finance Interaction
When investing their money, Americans reported the financial institution they’re most likely to trust are Registered Investment Advisors.
When investing their money,
investors are most likely to trust:
What’s more, 65 percent of investors who work with a financial advisor mistakenly believe that financial advisors only make recommendations that are in a client’s best interest, up from 46 percent in 2017.
Eighteen percent of those surveyed were unable to differentiate whether their advisor is a broker/dealer or a fiduciary.
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Helps them Understand Personal Finances
2019 FINANCIAL TRUST SURVEY REPORT
Know the amount of fees they pay on all their investment accounts.
One in Five
Ease of Use
When it comes to wealth management, anything less than advice that meets the fiduciary standard simply isn’t acceptable. Investors deserve more.
Going Beyond the Fiduciary Rule to Protect Investors
Nearly one-third of Americans think financial advisors are likely to take advantage of clients, but most believe their advisor is trustworthy.
Don't know how their financial advisor is compensated.
Trust in tech
Nearly half of Americans (48%) incorrectly believe all financial advisors have a legal obligation to act in clients’ best interests.
Who do Americans trust most with their money?
How many Americans are still in the dark about their financial advice?
jay shah, ceo personal capital
This report presents the findings of a CARAVAN survey conducted by Engine among a sample of 2,007 adults comprising 1,004 men & 1,003 women 18 years of age and older. These online interviews took place on December 10-16, 2018.
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