InMoment, the leading provider of Experience Improvement (XI) solutions, announced new research of affluent U.S. investors showing investor loyalty is tenuous based on portfolio performance and advisor behavior. However, attitudes about investing and risk have remained steady during the pandemic. Financial firms interested in adopting experience improvement guidance from InMoment can proactively address these client retention risks.
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U.S. affluent investors—those with over $100,000 in privately held investable assets—value firms that have strong financial stability, a good reputation, and reasonable fees and services. A good relationship with their advisor is a top expectation for investors using a full-service brokerage firm, whereas self-directed investors put more emphasis on fee structures and online service capabilities. InMoment data shows that up to a third of investors are vulnerable to leaving their primary investment firm. Organizations that prioritize these areas can expect to minimize investor churn in the future.
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Overall investor satisfaction with their investment firm—regardless of firm type, i.e., bank, discount, mutual fund, insurance, regional or national full service—has risen dramatically since 2010. This is likely due to the improved overall customer experience offered by firms during the past decade, including more proactive communication from financial advisors, better online tools, better and a better match between investor needs and financial products.
The InMoment Affluent Investor data is available immediately in the InMoment XI Platform and for use in client strategy planning and consultation. InMoment financial service experience improvement experts are also available for consultation.
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