TransUnion Survey Finds 65% of Investors Value Trust Over Fees in Wealth Management
Updated
Updated · newsroom.transunion.com · Aug 18
TransUnion Survey Finds 65% of Investors Value Trust Over Fees in Wealth Management
2 articles · Updated · newsroom.transunion.com · Aug 18
Summary
65% of current U.S. investors ranked trust and reputation among their top factors in choosing a wealth manager, versus 49% who cited fees and pricing, TransUnion said.
1,000 consumers with at least $20,000 in investable assets were surveyed, and 58% of prospective investors also named trust and reputation as a key consideration.
56% of investors said transparency in fees and advice drives trustworthiness, matching the share who pointed to reputation and brand credibility.
56% were moderately to extremely concerned about fraud's impact on their investments, underscoring demand for identity protection and security as wealth management shifts further online.
The findings suggest firms may need to compete less on price alone and more on visible protection, clear communication and credibility to win and retain clients.