American Century is leader of online pack

FEB 04, 2008
When Henry David Thoreau gazed out at Walden Pond and thought, "Simplify, simplify," he probably never imagined that would apply to opening online accounts. But it did, leading American Century Investments to be named the online leader among nine top mutual fund companies that sell directly to consumers. Corporate Insight, a New York-based financial services consulting firm, said the Kansas City, Mo.-based fund company achieved perfect scores on the evaluation criteria of accessibility, usability and features. "All fund selection assistance, help features and resources were streamlined into the process, minimizing excess navigation and ensuring that prospective applicants will have a smooth experience with as little or as much help as they need throughout," said Lauren Wistrom, a senior analyst at Corporate Insight and the author of the report. American Century created its online account-opening program three years ago, and more than 30% of accounts are now created online. Customers can start conventional and IRA accounts, as well as Section 529 and brokerage accounts. Other fund providers examined were Dreyfus Corp., Fidelity Investments, ING Investment Management, Janus Capital Group Inc., RS Investments, T. Rowe Price Group Inc., The Vanguard Group Inc. and Wells Fargo Investments LLC.

Latest News

SEC fines Zoe Financial $450K over undisclosed referral conflict
SEC fines Zoe Financial $450K over undisclosed referral conflict

Salespeople at the firm often went beyond the matching algorithm to recommend network advisors on its Zoe Wealth platform, according to the regulator.

Senate vote on NIL bill could reshape college athletes' paydays
Senate vote on NIL bill could reshape college athletes' paydays

The Protect College Sports Act would cap school payments and codify NIL rights, with implications for advisors guiding young athletes.

'I'm done': Pandemic memories push business owners toward the exit
'I'm done': Pandemic memories push business owners toward the exit

"I know the number that I want to be able to retire on, and now I just want out," says Wilmington Trust's Marguerite Weese, describing a common refrain among business-owner clients.

Northern Trust bulks up family office team with New York hires
Northern Trust bulks up family office team with New York hires

Bessemer and Brown Brothers Harriman veteran Robert Ludricks III and private markets specialist Olof Akesson join the ultra-high-net-worth push on the East Coast.

SEC accuses trucking operator of running $127 million Ponzi scheme
SEC accuses trucking operator of running $127 million Ponzi scheme

765 investors were promised 260% annual returns on truck leases

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains