A TransUnion survey of 1,000 U.S. consumers with at least $20,000 in investable assets found trust and reputation now outrank pricing when selecting wealth management providers.
Nearly two-thirds of existing investors cited trust and reputation as a top factor, versus 49% for fees, while 58% of prospective investors named trust and reputation their leading consideration.
Transparency and brand credibility were central to that shift, with 56% saying those factors most shape trustworthiness and another 56% expressing moderate to extreme concern about fraud's impact on investments.
The findings suggest wealth managers may need to compete less on price and more on confidence, communication and security as investor expectations evolve.