America's digital financial habits disappoint

Financial firms target technology to help clients save and invest more intelligently
NOV 04, 2017
By  Ellie Zhu
Consumers of all ages are spending their money online, but fewer use digital tools to save and invest. Firms are looking for tools to make it easier. Digital tools can enhance their clients' financial services experience and the overall stickiness of customers. Forward-thinking financial services firms are deploying the newest technologies for clients and they're how firms plan to grab the increasingly digital consumer. Check out how the typical American customer is spending their online lives.
Digital finance tools
Investor use of digital personal finance tools and applications
Source: InvestmentNews Research, “An Adviser's 
Guide to Understanding Investors' Digital DNA.”
Advisers emphasize 
investing in emerging 
technologies
Which of the following would be most critical to achieving your firm's goals for growth?
2015
2017
Fully utilizing my firm's current technology
Investing in new and emerging technologies
Technology will not play a significant role in 
my firm's ability to grow
Source: InvestmentNews Research, “An Adviser's 
Guide to Understanding Investors' Digital DNA.”
THE 
“DIGITAL 
DIVIDE”
Individuals are 
3.5 
times more likely to have an 
Amazon Prime account than 
a 529 college 
education 
account 
(68% vs. 19%)
66% 
of individuals 
use a payment application, 
such as PayPal, while only 
14% 
have ever
used an online budgeting tool
52% 
of individuals play games 
on their mobile phones, 
while only 
28% 
have ever used 
a retirement 
calculator
Source: InvestmentNews Research, “An Adviser's 
Guide to Understanding Investors' Digital DNA.”
Consumer online usage
Average hours spent online daily, by age
Source: InvestmentNews Research, “An Adviser's 
Guide to Understanding Investors' Digital DNA.”

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