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Who Buys Source

Based on a study by the Certified Financial Planner Board, 76.4% of Certified Financial Planners are men, and 23.6% are women. Profile of CFPs, by age group: 20-29, 3.0%; 30-39, 18.3%; 40-49, 24.4%; 50-59, 28.2%; 60-69, 17.4%; 70-79, 3.3%; 80+, 0.2%; no age given, 5.2%.

Certified Financial Planner Board, 2014

Research by the Aite Group shows that close to a quarter of U.S. adults with access to the Internet are retail online traders and an additional 6% are professional traders, together equivalent to a self-directed U.S. trading population of more than 54 million adults.

Aite Group, 2014

Profiling adults 18+ who bought or sold stocks, bonds or mutual funds through a broker (full-service, discount or online) in the past year, along with those consumers who used the services of a financial planner/advisor or personal mony manager in the last 12 months:
 

GfK MRI, 2013

Of those adults 18+ who used the services of a financial planner/advisor or personal money manager in the last year, 53.0% were women and 47.0% were men.

GfK MRI, 2013

Adults 18+ who used a financial planner/advisor or personal money manager in the past year, by age group: 18-24, 2.1%; 25-34, 8.1%; 35-44, 13.7%; 45-54, 21.8%; 55-64, 26.5%; 65+, 27.8%.

GfK MRI, 2013

Adults 18+ who utilized a financial planner/advisor or personal money manager in the previous year, by income level: $100,000+, 42.8%; $75-99,999, 18.7%; $60-74,999, 12.5%; $50-59,999, 7.5%; $40-49,999, 6.7%; $30-39,999, 5.4%; $20-29,999, 4.0%; under $20,000, 2.4%.

GfK MRI, 2013

Adults 18+ who used a financial planner/advisor or personal money manager in the past year, by race: White, 91.6%; Black, 3.8%; Other, 4.6%; Hispanic origin, 5.1%.

GfK MRI, 2013

Adults 18+ who used a financial planner/advisor or personal money manager in the previous year, by region: Northeast, 20.4%; Midwest, 28.5%; South, 30.2%. West, 20.9%.

GfK MRI, 2013

Adults 18+ who used a financial planner/advisor or personal money manager in the past year, by marital status: Single, 10.5%; married, 72.9%; separated/widowed/divorced, 16.6%.

GfK MRI, 2013

Of those adults 18+ who bought/sold stock, bonds or mutual funds through a broker in the last year, 58.1% were men and 41.9% were women.

GfK MRI, 2013

Adults 18+ who bought/sold any stocks, bonds or mutual funds through a broker in the previous year, by age group: 18-24, 3.6%; 25-34, 10.7%; 35-44, 14.2%; 45-54, 20.2%; 55-64, 24.5%; 65+, 26.8%.

GfK MRI, 2013

Adults 18+ who bought/sold any stocks, bonds or mutual funds through a broker during the last year, by income level: $100,000+, 46.9%; $75-99,999, 18.3%; $60-74,999, 11.1%; $50-59,999, 6.9%; $40-49,999, 5.7%; $30-39,999, 4.6%; $20-29,999, 3.7%; under $20,000, 2.8%.

GfK MRI, 2013

Adults 18+ who bought/sold any stocks, bonds or mutual funds through a broker in the last year, by region: Northeast, 19.9%; Midwest, 25.5%; South, 29.6%; West, 25.0%.

GfK MRI, 2013

Adults 18+ who bought/sold any stocks, bonds or mutual funds in the past year through a a broker, by race: White, 89.7%; Black, 3.9%; Other, 6.4%; Hispanic origin, 6.5%.

GfK MRI, 2013

Adults 18+ who bought/sold any stocks, bonds or mutual funds through a broker in the last year, by marital status: Single, 13.6%; married, 71.7%; separated/widowed/divorced, 14.7%.

GfK MRI, 2013

A 2013 survey of Registered Investment Advisors, conducted by WealthManagement.com, asked the respondents what criteria they primarily look at when screening potential clients (more than one answer possible): Wealth range: 66%; profession/career, 36%; life cycle situation, 33%; specific age groups, 27%; specialized investment needs, 15%; certain hobbies/interests, 7%; lifestyle, 5%; ethnicity/gender, 2%; other, 9%; no current focus, 30%.

WealthManagement.com, 2013

According to Gfk MRI research, men account for 76.5% of online stock brokerage customers, while women account for 23.5%. For full-service brokers, men make up 51.0% of the customer base, compared to 49.0% for women.

GfK MRI, 2013

Based on survey results from Gfk MRI, share of online brokerage clients, by age bracket: 18-24, 5.7%; 25-34, 17.1%; 35-44, 20.3%; 45-54, 25.6%; 55-64, 20.7%; 65+, 10.6%. Share of full-service brokerage customers, by age group: 18-24, 2.4%; 25-34, 8.5%; 35-44, 12.3%; 45-54, 20.0%; 55-64, 25.7%; 65+, 31.1%.

GfK MRI, 2013

A 2013 survey of just over 1,000 adults, conducted by the Certified Financial Planner Board, indicated that only 41% of consumers had ever worked with a financial advisor.

Certified Financial Planner Board, 2013

U.S. households owning mutual funds, by age of household head (percentage of each group): Younger than 35, 31%; 35-44, 49%; 45-54, 60%; 55-64, 58%; 65+, 37%.

Investment Company Institute, 2013

U.S. households owning mutual funds, by income bracket (percentage of each group): Less than $25,000, 12%; $25,000-$34,999, 27%; $35,000-$49,999, 39%; $50,000-$74,999, 55%; $75,000-$99,999, 67%; $100,000-$199,999, 82%; $200,000+, 79%.

Investment Company Institute, 2013


Why They Buy Source

According to a 2013 survey of more than 1,000 adults, authorized by the Certified Financial Planner Board, the most desired attributes consumers look for when choosing a financial advisor: Strong knowledge of financial planning, 48%; ethics, 20%; years in business/experience, 17%; ability to offer a variety of financial products, 11%; something else, 4%. Ninety-one percent of consumers expect the advice they receive from a financial advisor to take into account their total financial situation.

Certified Financial Planner Board, 2013

Based on a 2013 survey of just over 1,000 adults, 84% of the respondents believe that certifications are important when selecting a financial advisor.

Certified Financial Planner Board, 2013

According to the 2013 J.D. Power and Associates Self-Directed Investor Satisfaction Study, the most important factors contributing to customers' satisfaction with their investment company: 1) Interaction; 2) Account information; 3) Trading charges and fees; 4) Account offerings; 5) Information resources; 6) Problem resolution.

J.D. Power and Associates, 2013

According to the J.D. Power and Associates 2013 Full-Service Investor Satisfaction Study, the factors that contribute most to customers' satisfaction with their investment firm: 1) Investment advisor; 2) Investment performance; 3) Account information; 4) Account offerings; 5) Commissions and fees; 6) Website; 7) Problem resolution.

J.D. Power and Associates, 2013

Financial goals for mutual fund investors (multiple answers): Retirement, 92%; emergency, 51%; reduce taxable income, 47%; current income, 25%; education, 25%; house or other large item, 13%; other, 6%. 

Investment Company Institute, 2013


What They Buy Source

Acccording to a 2013 survey of Registered Investment Advisors at major brokerages, conducted by WealthManagement.com, products that are used most often (more than one answer possible): 1. Mutual funds; 2. Stocks; 3. ETFs; 4. (tie) Bonds and separate accounts; 6. Money market; 7. (tie) Life insurance, alternative assets in a regulated fund or ETF structure; 9. (tie) REITs, variable annuities, and alternative assets such as hedge funds, management futures, commodities.

WealthManagement.com, 2013

According to a 2013 survey of Registered Investment Advisors at major brokerage houses, conducted by WealthManagement.com, services offered most often by the respondents: Basic investment advice, 93%; retirement planning, 85%; investment management, 83%; financial planning, 78%; insurance planning, 59%; charitable giving planning, 54%; estate planning, 53%; business advisory services, 22%; trust services, 12%; concierge services, 12%; tax preparation, 11%; private banking, 10%.

WealthManagement.com, 2013

Of those households owning mutual funds in 2013, the average number of funds owned was six. Types of mutual funds owned (more than one answer possible): Equity funds, 86%; bond funds, 48%; balanced funds, 32%; money market funds, 54%; other, 5%.

Investment Company Institute, 2013

Where They Buy Source

States with the greatest number of Certified Financial Planners at the end of 2013: California, 7,860; Florida, 4,715; Texas, 4,663; New York, 4,123; Illinois, 3,534; Pennsylvania, 3,531; New Jersey, 2,986; Ohio, 2,568; Massachusetts, 2,523; North Carolina, 2,449. 

Certified Financial Planner Board, 2014

Taking into account such considerations as commissions, investment products, trading tools,  research capabilities and customer service, Barron's magazine ranked the top online brokers in three categories for 2013: Top 5 Brokers for Novice Investors -- 1. TD Ameritrade; 2. Fidelity; 3. E*Trade; 4. Charles Schwab; 5. Capital One 360 Sharbuilder. Top 5 Brokers for Long-Term Investing -- 1. TD Ameritrade; 2. Fidelity; 3. Charles Schwab; 4. Merrill Edge; 5. E*Trade. Top 5 Brokers for Personal Service -- 1. Scottrade; 2. Merrill Edge; 3. Charles Schwab; 4. Fidelity; 5. TD Ameritrade. 

Barron's, 2013

Business Trends Source

By the end of 2013, the number of Certified Financial Planners in the U.S. had grown to more than 69,000, up from 60,600 at the end of 2009.

Certified Financial Planner Board, 2014

A 2013 survey by the Certified Financial Planner Board found that although nearly 90% of American households engage in some type of formal or informal financial planning, only 32% have a comprehensive financial plan in place.

Certified Financial Planner Board, 2013

Approximately 96.2 million individuals and 56.7 million U.S. households owned shares of mutual funds in 2013. The number of households with mutual funds has grown from 50.3 million in 2005.

Investment Company Institute, 2013

According to the J.D. Power and Associates 2013 Self-Directed Investor Satisfaction Study, the percentage of investors who say they "completely" understand their fee structure dropped to 35% in 2013, from 39% in 2012. In addition, the incidence of investor awareness/use of at least one financial planning tool declined from 31% in 2012 to 28% in 2013.

J.D. Power and Associates, 2013

Misc Source

Scoring highest in the 2013 J.D. Power and Associates Full-Service Investor Satisfaction Study were: 1. RBC Wealth Management; 2. Fidelity Investments; 3. Edward Jones; 4. Charles Schwab & Co.; 5. Raymond James; 6. Wells Fargo Advisors; 7. UBS Financial Services. All seven investment firms scored above the industry average.

J.D. Power and Associates, 2013

Earning the highest scores in the 2013 J.D. Power and Associates Self-Directed Investor Satisfaction Study were: 1. Scottrade; 2. Charles Schwab & Co.; 3. Vanguard; 4. T. Rowe Price; 5. TD Ameritrade; 6. E*Trade Financial; 7. Fidelity Investments. All seven companies finished with scores above the industry average.

J.D. Power and Associates, 2013