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June 29, 2015 at 08:00 PM
Self-directed investors want to do more than “go it alone” when it comes to achieving their financial goals, the J.D. Power 2015 U.S. Self-Directed Investor Satisfaction Study finds. The current overall satisfaction level across marketplace is 763 (on a 1,000-point scale), which is unchanged from 2014 and up slightly from 752 in 2013.
The study, now in its 14th year and released in late May, includes the views of 3,700 self-directed investors and measures satisfaction with their investment firm based on six factors: interaction, account information, trading charges and fees, account offerings, information resources and problem resolution.
Most investors with guidance-based relationships, 64%, are likely to recommend their firm to friends and family, and many, 45%, are poised to increase their investment levels with the firm vs. those who do not have this type of relationship, of whom just 26% are likely to make referrals and only 29% plan to boost investments, J.D. Power explains in a press release.
The 2015 survey finds that consumers are more satisfied with three of the top seven firms than they were a year ago and less satisfied with the remaining four. Of the 10 firms highlighted in the poll, satisfaction increased for six firms and dropped for four.
The J.D. Power survey also shows that overall satisfaction is higher among self-directed investors who have a guidance-based relationship (and had an average satisfaction level of 828) than among those who do not (656). Looking at what most impacts satisfaction, providing digital tools for asset allocation, financial planning, and tracking/monitoring portfolio performance seems most critical.
