J.D. Powers 2013 investor survey, shows DIY investors are less satisfied with self-directed platforms despite more online tools and information. More is not better as the survey describes:
“Investment firms are now offering more online tools and information for self-directed investors than ever before. That fact is apparently both a blessing and a curse, as the additional content and capabilities may actually make it more difficult to access the functions investors are seeking if a website is not easy to navigate and communication is not clear.”
Investors need personal advisor help. Online options don’t cut it. The survey reports that 55% of DIY investors say they’re offered education, but only a tiny 7% actually use it.
Why? It’s much more pleasant and more effective to have a real person help you.
The more people get discouraged with DIY, the more they will value you. All the fancy online tools in the world can’t replace a thinking, caring and experienced professional.
Tip of the Day:
Craft your brand and messaging to highlight your human value to clients. They can access many investment tools and services without you. But they can’t get the human touch without you. Branding experts suggest 5 Keys for Effective Branding:
- Focus – Who are you and who do you serve?
- Differentiate – What makes you unique and special?
- Relevant – Why does your client care? What do you bring that they want & need?
- Consistency – Talk & Deliver the brand consistently. You are what people experience from you.
- Values – People want values and meaning. Technology is cold and soul-less. You deliver human value that no technology can deliver!
Resource of the Day:
Link to Inc. magazine article by a branding expert: 5 Common Branding Blunders & How to Avoid Them
Link to the study report: J.D. Power 2013 U.S. Self-Directed Investor Satisfaction Study
