Risky Business: The Rise of Independent Investing Among Wealth Management Clients
- Date:December 12, 2022
- Author(s):
- Greg O'Gara
- Joel Hugentobler
- Report Details: 19 pages, 7 graphics
- Research Topic(s):
- Digital Wealth — Investor
- Wealth Management
- PAID CONTENT
- Download summary
Overview
Investors have access to a broad range of investment vehicles today, from alts to crypto to private equity. Traditional self-directed brokerage accounts are driving this independence among advised investors who now manage assets outside their primary wealth management account—and outside the guardrails of their advisory relationship. Today, 45% of advised investors keep separate, self-directed accounts at Schwab, Fidelity, E*Trade, Robinhood, and other platforms.
Beyond capturing held-away assets for share of wallet, wealth managers need to introduce digital solutions that help bring outside assets into the human advisory discussion, enhancing holistic risk management and providing a more comprehensive experience between the investor and the digital user (i.e., on the client portal). This is more than simply aggregating these assets. Better client engagement for wealth managers is rooted in creating a digital experience that highlights the benefits to the investor of bringing held-away assets into the center of the advisory discussion.
Key questions discussed in this report:
- How has the perception of investment risk changed among advised investors?
- How can advisors incorporate independent investing behavior into the client discussion?
- What technology is needed to enhance the digital/human engagement user experience for advised clients?
Companies Mentioned:
AngelList, Bank of America, E*Trade, eMoney, EquityZen, Facebook, Fidelity, Forge, FTX, Fundrise, Indiegogo, InvestCloud, JPMorgan Chase, Koyfin, Merrill Edge, Mint, MoneyGuide, MoneyPatrol, Morgan Stanley, Morningstar, Personal Capital, Quicken, Robinhood, Schwab, SeedInvest, TD Ameritrade, Rocket Money, Twitter, Vanguard, YCharts, Yieldstreet, Zacks
Interested In This Report
Related content
Instant Messaging: An Opportunity to Humanize the Investor Experience
To survive, much less thrive, the modern wealth manager must energize the user journey, boost efficiency, and stay compliant. Instant messaging (IM) is a lever for the realization ...
2023 Digital Wealth — Investor Trends & Predictions
The annual Digital Wealth — Investor trends report will highlight the top three business drivers for change in 2023.
Investor Portal 2.0: Functionality for a New Generation of Investors
The lines between traditional investor segments are blurring as digital behaviors become indistinguishable. A comparison of Javelin’s year-over-year investor data shows increased e...
Make informed decisions in a digital financial world