2010 fsi q1 survey results
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DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly SurveyAwareness Questionnaire
Q1 2010
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Table of Contents
5About Survey Participants – Advisors
34Expanded disclosure of compensation and potential conflicts of interest - Advisors
31Expanded role of FINRA in regulation of non-security products/services – Broker Dealers
28Expanded role of FINRA in regulation of non-security products/services - Advisors
22Restrict use of independent contractor status for RR’s - Advisors
25Restrict use of independent contractor status for RR’s – Broker Dealers
19Adoption of a uniform fiduciary standard for all advisers (RR’s & IAR’s) – Broker Dealers
13Changes to rule 12b-1 that limit this form of compensation – Broker Dealers
16Adoption of a uniform fiduciary standard for all advisers (RR’s & IAR’s) – Advisors
10Changes to rule 12b-1 that limit this form of compensation – Advisors
8About Survey Participants – Broker Dealers
4Purpose, Process & Methodology
Expanded disclosure of compensation and potential conflicts of interest – Broker Dealers 37
3
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
68About DALBAR, Inc.
66Client Relationship Following Market Turmoil – Broker Dealers
61Mandatory lifetime income option for 401(k) plans – Broker Dealers
64Client Relationship Following Market Turmoil - Advisors
58Mandatory lifetime income option for 401(k) plans - Advisors
52Definition of 401(k) plan advisers as ERISA fiduciaries - Advisors
55Definition of 401(k) plan advisers as ERISA fiduciaries – Broker Dealers
49401(k) advice regulations to plans and participants – Broker Dealers
46401(k) advice regulations to plans and participants - Advisors
43Mandatory automatic IRAs for employers with no other retirement plan – Broker Dealers
40Mandatory automatic IRAs for employers with no other retirement plan - Advisors
Table of Contents
4
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Purpose, Process & Methodology
• Purpose• The purpose of this project was to gauge levels of awareness and/or concern within the investment advisory industry about a certain selection of topics.
• Process•Invitations were sent to members of the Financial Services Institute to participate in a survey created and implemented by DALBAR, Inc.
• Methodology• 12,248 financial advisers and 1,836 broker/dealer were asked toparticipate.
• The survey was conducted between 01/22/10 and 01/27/10
• 380 financial advisers and 72 B/Ds responded, representing response rates of 3% and 4%, respectively
• Margins of error were 5% and 11% respectively • 95% confidence level
5
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Additional Resources• Results from this survey are presented in this report in the form of
statistics, without segmentation analysis, opinion or commentary.• Further insights into the issues reported here are available from
DALBAR through supplemental reports and in-person presentations.• Available supplements include:
– Analysis and recommendations for taking advantage of the results.– Discussion of practices currently underway in the industry– Recasting results in a form more suitable to a specific firm. – Cross-tabulations that reveal a variety of subsets of the aggregate data
presented here.– Customized surveys of advisers and/or clients.
• For further information contact:
DALBAR, Inc.Attn: Survey ResearchFederal Reserve Plaza600 Atlantic AvenueBoston, MA 02210
617-723-6400surveys@DALBAR.com
6
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
About Survey Participants – Advisors
Under what structure(s) do you operate?
How long have you worked in the securities industry?
What products do you use on a regular basis?
Which category(ies) best describe your primary revenue source(s)?
7
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Under what structure(s) do you operate?
How long have you worked in thesecurities industry?
6-10 years9.8%
Over 1087.8%
0-5 years2.4%
72.9%
28.7%
55.8%
18.7%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Registered Rep OSJ IAR of B/D's RIA Own RIA
8
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What products do you use on a regular basis?
Which category(ies) best describe Your primary revenue source(s)?
54.2%
97.6%
40.3% 38.4%
32.1%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Stoc
ks &
Bon
ds
Mut
ual F
unds
401
(k)
Altern
ativ
e In
vest
.
Other
69.21%
36.05%
51.58%
3.42%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Fee
Base
d
Annu
ity/
Insu
ranc
e
IRAs
& R
ollo
vers
Inst
itutio
ns
9
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
About Survey Participants –Broker/Dealers
How long have you worked in the securities industry?
What is your primary area of responsibility?
10
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How long have you worked in the securities industry?
What is your primary area of responsibility?
0-5 years5.6%
6-10 years12.5%
Over 1081.9%
Admin.12.5%
Legal or Compl.44.4%
Sales15.3%
Ops.13.9%
Branch Offices1.4%
Other9.7%
Capital Markets
1.4%
IT1.4%
11
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Changes to rule 12b-1 that limit this form of compensation - Advisors
How aware are you of proposals to limit the use of 12b-1?
How concerned are you about potential limits to 12b-1?
What actions have you taken to prepare for limits to 12b-1?
12
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to limit the use of
12b-1?
How concerned are you aboutpotential limits to 12b-1?
Highly Aware35.9%
Generally Aware36.5%
Unaware1.5%
Somewhat Aware26.0%
No concern4.5%
Somewhat Concerned
15.0%
Concerned18.0%
Very Concerned
62.6%
13
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for limits to 12b-1?
None61.9%
Developed a strategy21.5%
Plans are in place
14.5%
Have pilot program
2.1%
14
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Changes to rule 12b-1 that limit this form of compensation –Broker/Dealers
How aware are you of proposals to limit the use of 12b-1?
How concerned are you about potential limits to 12b-1?
What actions have you taken to prepare for limits to 12b-1?
15
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to limit the use of
12b-1?
How concerned are you aboutpotential limits to 12b-1?
Highly Aware55.2%
Somewhat Aware12.1%
Generally Aware32.7%
Very Concerned
70.2%
Concerned14.0%
Somewhat Concerned
14.0%
No concern
1.8%
16
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for limits to 12b-1?
None73.7%
Developed a strategy
17.5%
Plans are in place7.0%
Have pilot program
1.8%
17
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Adoption of a uniform fiduciary standard for all advisers (RRs & IARs) – Advisors
How aware are you of fiduciary standards being proposed?
How concerned are you about a new fiduciary standard?
What actions have you taken to prepare for a new standard?
18
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Very Concerned
22.1%
Somewhat Concerned
58.6%
No concern19.3%
How aware are you of fiduciary standards being
proposed?
How concerned are you about a new fiduciary standard?
Highly Aware29.5%
Generally Aware39.2%
Somewhat Aware24.4%
Unaware6.9%
19
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for a new standard?
None67.0%
Developed a strategy17.4%
Plans are in place
14.7%
Have pilot program
0.9%
20
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Adoption of a uniform fiduciary standard for all advisers (RRs & IARs) – Broker/Dealers
How aware are you of fiduciary standards being proposed?
How concerned are you about a new fiduciary standard?
What actions have you taken to prepare for a new standard?
21
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of fiduciary standards being proposed?
How concerned are you about a new fiduciary standard?
Generally Aware28.1%
Somewhat Aware7.0%
Highly Aware63.2%
Unaware1.7%
Very Concerned
40.4%
Somewhat Concerned
49.1%
No concern10.5%
22
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for a new standard?
None56.4%
Plans are in place
10.9%
Developed a strategy30.9%
Have pilot program
1.8%
23
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Restrict use of Independent Contractor status for RRs – Advisors
How aware are you of proposals to limit Independent Contractors?
How concerned are you about Independent Contractor limits?
What actions have you taken to prepare for limits?
24
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to limit Independent Contractors?
How concerned are you about Independent contractor limits?
Highly Aware40.7%
Generally Aware28.1%
Somewhat Aware21.0%
Unaware10.2%
Very Concerned
70.4%
Concerned13.8%
Somewhat Concerned
11.0%
No concern4.8%
25
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for limits?
None88.6%
Developed a strategy
9.3%
Plans are in place2.1%
26
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Restrict use of Independent Contractor status for RR’s – Broker/Dealers
How aware are you of proposals to limit Independent Contractors?
How concerned are you about Independent Contractor limits?
What actions have you taken to prepare for limits?
27
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to limit Independent Contractors?
How concerned are you aboutIndependent Contractor limits?
Very Concerned
68.4%
Concerned14.0%
Somewhat Concerned
12.3%
No concern5.3%
Highly Aware68.4%
Somewhat Aware5.3%
Generally Aware22.8%
Unaware3.5%
28
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for limits?
None78.2%
Plans are in place3.6%
Developed a strategy
14.6%
Have pilot program
3.6%
29
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Expanded role of FINRA in regulation of non-security products/services – Advisors
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
What actions have you taken to prepare for a new FINRA role?
30
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
Highly Aware10.5%
Generally Aware20.1%
Somewhat Aware24.9%
Unaware44.5%
Very Concerned
23.8%
Somewhat Concerned
29.6%
No concern21.5%
Concerned25.1%
31
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for a new FINRA role?
None92.3%
Plans are in place2.6%
Have pilot program
1.9%Developed a strategy
3.2%
32
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Expanded role of FINRA in regulation of non-security products/services –Broker/Dealers
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
What actions have you taken to prepare for a new FINRA role?
33
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of the FINRA non-securities proposal?
How concerned are you about the FINRA proposal?
Highly Aware36.8%
Generally Aware21.1%
Somewhat Aware26.3%
Unaware15.8%
Concerned21.8%
No concern7.3%
Somewhat Concerned
34.5%
Very Concerned
36.4%
34
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for a new FINRA role?
None88.7%
Developed a strategy
7.5%
Plans are in place
1.9% Have pilot program
1.9%
35
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Expanded disclosure of compensation and potential conflicts of interest –Advisors
How aware are you of proposals to expand disclosures?
How concerned are you about expanded disclosures?
What actions have you taken to prepare for disclosures?
36
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to expand disclosures?
How concerned are you about expanded disclosures?
Highly Aware14.4%
Generally Aware31.7%
Somewhat Aware35.9%
Unaware18.0%
Very Concerned
19.8%
Somewhat Concerned
35.4%
No concern16.5%
Concerned28.3%
37
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for disclosures?
Have pilot program
0.6%
Developed a strategy
7.3%
Plans are in place8.2%
None83.9%
38
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Expanded disclosure of compensation and potential conflicts of interest –Broker/Dealers
How aware are you of proposals to expand disclosures?
How concerned are you about expanded disclosures?
What actions have you taken to prepare for disclosures?
39
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals to expand disclosures?
How concerned are you aboutexpanded disclosures?
Highly Aware29.8%Somewhat
Aware21.1%
Unaware8.8%
Generally Aware40.3%
Very Concerned
21.4%
Concerned41.1%
Somewhat Concerned
30.4%
No concern7.1%
40
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for disclosures?
None60.4%
Developed a strategy24.5%
Plans are in place
11.3%
Have pilot program
3.8%
41
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Mandatory automatic IRAs for employers with no other retirement plan – Advisors
How aware are you of proposals for automatic IRAs?
How concerned are you about the proposals for automatic IRAs?
What actions have you taken to prepare for automatic IRAs?
42
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals for automatic IRAs?
How concerned are you about theproposals for automatic IRAs?
Highly Aware5.6%
Generally Aware28.6%
Somewhat Aware32.6%
Unaware33.2%
Very Concerned
11.7%
Concerned20.2%
Somewhat Concerned
36.5%
No concern31.6%
43
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for automatic IRAs?
None94.8%
Plans are in place2.0%Developed a
strategy2.9%
Have pilot program
0.3%
44
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Mandatory automatic IRAs for employers with no other retirement plan –Broker/Dealers
How aware are you of proposals for automatic IRAs?
How concerned are you about the proposals for automatic IRAs?
What actions have you taken to prepare for automatic IRAs?
45
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals for automatic IRAs?
How concerned are you about the proposals for automatic IRAs?
Highly Aware2.0%
Somewhat Aware35.3%
Generally Aware37.2%
Unaware25.5%
Very Concerned
6.0%
Concerned24.0%
Somewhat Concerned
40.0%
No concern30.0%
46
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for automatic IRAs?
None97.9%
Developed a strategy
2.1%
47
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
401(k) advice regulations to plans and participants – Advisors
How aware are you of the status of advice regulations?
How concerned are you about new advice regulations?
What actions have you taken to prepare for new regulations?
48
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of the status of advice regulations?
How concerned are youabout new advice regulations?
Highly Aware12.6%
Generally Aware33.6%
Somewhat Aware36.5%
Unaware17.3%
Concerned29.1%Somewhat
Concerned37.3%
No concern16.0%
Very Concerned
17.6%
49
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for new regulations?
None84.2%
Developed a strategy
8.1%
Plans are in place7.1%
Have pilot program
0.6%
50
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
401(k) advice regulations to plans and participants – Broker/Dealers
How aware are you of the status of advice regulations?
How concerned are you about new advice regulations?
What actions have you taken to prepare for new regulations?
51
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of the status of advice regulations?
How concerned are youabout new advice regulations?
Highly Aware39.2%
Generally Aware37.2%
Somewhat Aware21.6%
Unaware2.0%
Very Concerned
34.0%
Concerned36.0%
Somewhat Concerned
28.0%
No concern2.0%
52
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for new regulations?
None60.4%
Developed a strategy27.1%
Plans are in place
10.4%
Have pilot program
2.1%
53
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Definition of 401(k) plan advisers as ERISA fiduciaries – Advisors
How aware are you of plan to make plan advisers fiduciaries?
How concerned are you about plan advisers as fiduciaries?
What actions have you taken to prepare for fiduciary status?
54
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of plan to make plan advisers fiduciaries?
How concerned are youabout plan advisers as fiduciaries?
Highly Aware21.6%
Generally Aware33.2%
Somewhat Aware30.1%
Unaware15.1% Very
Concerned22.6%
Concerned25.8%
Somewhat Concerned
31.2%
No concern20.4%
55
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for fiduciary status?
None79.2%
Developed a strategy
9.3%
Plans are in place9.3%
Have pilot program
2.2%
56
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Definition of 401(k) plan advisers as ERISA fiduciaries – Broker/Dealers
How aware are you of plan to make plan advisers fiduciaries?
How concerned are you about plan advisers as fiduciaries?
What actions have you taken to prepare for fiduciary status?
57
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of plan to make plan advisers fiduciaries?
How concerned are you about plan advisers as fiduciaries?
Generally Aware45.1%
Somewhat Aware13.7% Highly Aware
33.3%
Unaware7.9%
Concerned30.6%
Somewhat Concerned
28.6%
No concern12.2%
Very Concerned
28.6%
58
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for fiduciary status?
None56.2%
Plans are in place
16.7%
Developed a strategy22.9%
Have pilot program
4.2%
59
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Mandatory lifetime income option for 401(k) plans – Advisors
How aware are you of proposals for a lifetime income requirement?
How concerned are you about the lifetime income requirement?
What actions have you taken to prepare for the requirement?
60
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals for a lifetime income requirement?
How concerned are you about the lifetime income requirement?
Highly Aware7.2%
Generally Aware16.6%
Somewhat Aware27.5%
Unaware48.7%
Very Concerned
15.0%
Concerned25.0%
Somewhat Concerned
36.0%
No concern24.0%
61
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for the requirement?
None93.4%
Plans are in place2.3% Have pilot
program0.3%Developed a
strategy4.0%
62
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Mandatory lifetime income option for 401(k) plans – Broker/Dealers
How aware are you of proposals for a lifetime income requirement?
How concerned are you about the lifetime income requirement?
What actions have you taken to prepare for the requirement?
63
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How aware are you of proposals for a lifetime income requirement?
How concerned are you aboutthe lifetime income requirement?
Highly Aware7.8%
Generally Aware17.7%
Somewhat Aware43.1%
Unaware31.4%
Very Concerned
10.6%
Somewhat Concerned
42.6%
No concern27.7%
Concerned19.1%
64
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
What actions have you taken to prepare for the requirement?
None95.4%
Developed a strategy
2.3%
Plans are in place2.3%
65
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Client Relationship Following Market Turmoil – Advisors
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
66
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
More Trusting41.1%
No Change47.4%
Less Trusting11.5%
More Loyal36.8%
No Change54.8%
Less Loyal8.4%
67
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
Client Relationship Following Market Turmoil – Broker/Dealer
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
68
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
How has the trust of your clients changed since 2008?
How has client loyalty changed since 2008?
More Trusting18.2%
Less Trusting27.3%
No Change54.5%
More Loyal18.2%
No Change59.1%
Less Loyal22.7%
69
DALBARThe Measurement of Success
617-723-6400 DALBAR.COM
FSI Quarterly Survey
Awareness Questionnaire Q1 2010
• DALBAR, Inc., the nation’s leading financial services market research firm, continues its nearly three-decade commitment to raising the standards of excellence in the industry. With offices in the U.S., Canada, and London, DALBAR develops standards for, and provides research, ratings and rankings of, intangible factors that influence the overall customer service experience in the mutual fund, broker/dealer, managed account, retirement plan, life insurance, and property and casualty insurance industries. Such factors include print communications, Web, interactive voice response, call center, and financial professional touch points. www.dalbar.com
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