When affluent investors think about acquiring a new financial product or starting a new financial relationship, they think first about Fidelity, USAA and Vanguard, according to research on 50 companies tracked by Phoenix Marketing International. Other top-of-mind firms include American Funds, Charles Schwab, Franklin Templeton, T. Rowe Price, TD Ameritrade, and TIAA-CREF.
Not far behind are brands such as Genworth Financial, John Hancock, MassMutual, MetLife, Nationwide, Northwestern Mutual, New York Life, Prudential, The Hartford, and The Principal, said Phoenix in a recent release.
The Phoenix study polls about 2,000 affluent individual investors twice a year about their impression and consideration of numerous brands that provide diversified insurance and investment products.
A partial list of tracked firms includes Aetna, AIG, AIM, Alliance Bernstein, Allianz, American Century, American Funds, Ameriprise, Aviva, AXA, Charles Schwab, Berkshire Life, Edward Jones, E*Trade, Fidelity, Franklin Templeton, Genworth Financial, Goldman Sachs, Guardian, The Hartford, ING, Invesco, Jackson National, Janus, John Hancock, Lincoln Financial, MassMutual, Merrill Lynch, MetLife, Morgan Stanley, and Nationwide.
Other companies for which Phoenix has multi-year histories on brand health and advertising performance include Northwestern Mutual, New York Life, Oppenheimer, Pacific Life, PIMCO, Pioneer, Prudential, Putnam, Raymond James, State Farm, Sun Life, TD Ameritrade, TIAA-CREF, The Principal, Transamerica, Travelers, T. Rowe Price, US Trust/Bank of America, USAA, Wells Fargo, and Vanguard.
Over one-half of respondents participating in the April 2012 Phoenix brand health and advertising performance study reported that they expect to complete at least one of the following eight investment activities in the next month:
- “Meet with my financial advisor,”
- “Start thinking about my financial future,”
- “Consider purchasing additional retirement products,”
- “Find out more about retirement products & services,”
- “Change my investment strategy,”
- “Establish a new investment account,”
- “Close an account, but not terminate the relationship,” or
- “Change my financial advisor(s).”