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J.D. Power 2019 US Financial Advisor Satisfaction Study

  July 9, 2019 — The wealth management industry is facing a generational crisis.  Advisors under the age of 40 account for only 11% of the financial advisor population, and the support they want to help them develop a successful practice looks very different from that of the previous generation. According to the J.D. Power 2019 U.S. Financial Advisor Satisfaction Study, this first generation of financial advisor “digital natives” expects technology to play a more important role in that support, and they are much less satisfied than older advisors with the technology support they currently get from their brokerage firm.

Financial literacy skills have taken a nose dive since the Great Recession

June 27, 2019 - MarketWatch:  It’s been a decade since the Great Recession’s upheaval, and while some measures of Americans’ economic well-being have recovered like the unemployment rate, their financial literacy isn’t one of them.  The “clear trend of declining financial literacy” is one of the worrying signals in a three-year study from FINRA.

The US Treasury is calling for mandatory financial literacy courses for college students

June 19, 2019 - CNBC Money:  The U.S. Department of the Treasury released a new report on behalf of the Financial Literacy and Education Commission that recommends mandatory financial literacy courses for college students.

J.D. Power 2019 Retail Banking Satisfaction Study

April 25, 2019 - Ten years after great recession, innovation overcomes reputation as bank switching hits record low, J.D.  Power finds.  A decade after the financial crisis, the banking industry's reputation remains below pre-crisis levels, yet customers are shrugging off their concerns.  The J.D. Power 2019 U.S. Retail Banking Satisfaction Study, includes a look back at trend data starting in 2009 to examine the evolution of the customer experience during a period of massive industry transformation.

FINRA - Member Relations & Education: Making Regulation Smarter

March 19, 2019 - As a self-regulatory organization, FINRA is uniquely positioned to gain meaningful insights from its members to help ensure FINRA’s regulatory programs are working for everyone.  Tasked with maintaining that relationship and keeping an open dialogue is FINRA’s Office of Member Relations and Education.  The Member Relations and Education team routinely engages with firms through conferences, roundtables, boot camps and more.  And because they recognize that regulation isn’t simple or easy, they offer a host of educational tools and resources.

J.D. Power 2019 Full Service Investor Satisfaction Study

March 14, 2019 - Volatile markets strain investor satisfaction and increase flight risk, J.D. Power finds.  Findings from the J.D. Power 2019 U.S. Full Service Investor Satisfaction Study provide compelling data about investors' increasingly negative perceptions of their investment performance, which affects their future investment intentions and, ultimately, firms' overall performance.

FINRA Publishes First Annual Industry Snapshot

August 9, 2018 - In an effort to increase public awareness and understanding about the broad range of FINRA-registered firms and individuals, FINRA for the first time is sharing an annual snapshot of some of the data collected in the course of its work.  The FINRA Industry Snapshot 2018 provides a high-level overview of the industry, ranging from the number of FINRA-registered individuals to the overall revenues of firms; from trading activity to how firms market their products and services.

J.D. Power 2018 Financial Advisor Satisfaction Study

June 28, 2018 - Female Financial Advisors Key to  Recruiting Women into Industry to Close Gender Gap.  Current estimates suggest that women now control 51% of total U.S. wealth, yet despite the significant attention that fact has received within the industry, women still represent just 16% of all financial advisors.  One key to closing  this gap is creating more advocates among existing female advisors, who are best positioned to influence other women to enter the industry.

J.D. Power 2018 Full Service Investor Satisfaction Study

March 29, 2018 - Millennial Investor Loyalty Hinges on Advisor Relationship, Not Technology, J.D. Power Finds. Millennials, the generation poised to inherit a significant portion of the estimated $30  trillion great wealth transfer, are the least loyal group of full-service investors.  According to the J.D. Power 2018 U.S. Full Service Investor Satisfaction Study, the key to full-service firms not only attracting but retaining Millennial wealth is not new technology or mobile offerings, but cultivating great relationships and human, goals-based advice.