Numbers Game

Numbers Gameblog

Latest research and trends from around the financial advisory business, updated regularly highlighting stats, charts, infographics and all things data.

America's digital financial habits disappoint

Financial firms target technology to help clients save and invest more intelligently

Nov 4, 2017 @ 6:00 am

By arjuna-design Research and Ellie Zhu

Consumers of all ages are spending their money online, but fewer use digital tools to save and invest. Firms are looking for tools to make it easier.

Digital tools can enhance their clients' financial services experience and the overall stickiness of customers.

Forward-thinking financial services firms are deploying the newest technologies for clients and they're how firms plan to grab the increasingly digital consumer. Check out how the typical American customer is spending their online lives.

Digital finance tools
Investor use of digital personal finance tools and applications
Advisers emphasize 
investing in emerging 
technologies
Which of the following would be most critical to achieving your firm's goals for growth?
2015
2017
Fully utilizing my firm's current technology
Investing in new and emerging technologies
Technology will not play a significant role in 
my firm's ability to grow
THE 
“DIGITAL 
DIVIDE”
Individuals are 
3.5 
times more likely to have an 
Amazon Prime account than 
a 529 college 
education 
account 
(68% vs. 19%)
66% 
of individuals 
use a payment application, 
such as PayPal, while only 
14% 
have ever
used an online budgeting tool
52% 
of individuals play games 
on their mobile phones, 
while only 
28% 
have ever used 
a retirement 
calculator
Consumer online usage
Average hours spent online daily, by age

0
Comments

What do you think?

View comments

Recommended for you

Deputy editor Bob Hordt and senior columnist Bruce Kelly discuss the reasons for the marked shift of advisers between channels, including technology, the DOL fiduciary rule and the broker protocol.

Recommended Video

Channels

Latest news & opinion

Capital Group, sponsor of American Funds, wins 401(k) lawsuit

Decision comes as financial services companies, especially those focused on active management, have been sued for self-dealing.

SEC considers barring aggrieved investors from suing companies

Swept up by pro-business zeitgeist, regulator seeks to reverse two-decade slump in U.S. stock listings.

Wells Fargo, Morgan Stanley use contrary tactics to keep advisers

Wells is helping brokers transition to independence within the firm, while Morgan is taking them to court.

Fidelity pushes Vanguard to compete on brand in 401(k) plans

With Fidelity imposing an additional fee, Vanguard likely will look less attractive compared with comparably priced index-fund providers, advisers said.

Goldman's measure of risk appetite hits record

Global stocks and U.S. Treasuries are seeing their most "extreme" start to a year ever, bank says.

X

Hi! Glad you're here and we hope you like all the great work we do here at arjuna-design. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting arjuna-design.com? It'll help us continue to serve you.

Yes, show me how to whitelist arjuna-design.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Last News

turbotax software refund tax form 1099r aon hewitt benefits enroll in medicare part b hewitt investment group rarest baseball card in the world how to get cfp certification social security maximum benefit how long is the cfp exam how long do turbo tax refunds take focpx review td ameritrade 529 college savings plan dow jones industrial average stock list t rowe price new account form bank of america merrill lynch new york certified financial planner cfp average salary college loans for students with no cosigner treasury inflation protected securities mutual funds maximize my social security coupon code what is a large cap value fund t rowe price roth ira fees how does a retainer fee work new york life retirement plan services westwood ma roth ira and 403 b contribution limits dow jones industrial average annual returns traditional 401k vs roth federated high yield trust social security death benefit calculator 401k early withdrawal without penalty average cpa salary nyc medicare income related monthly adjustment retirement disability pay estimator excess ira contribution penalty fidelity monthly income class john hancock life insurance