Facts & Surveys

Check out the evidence that abounds on both the need & the benefits of a web-based online personal finance tool. 

We’ve been collecting a lot of evidence over the years in the form of published surveys, research & articles ! All of this growing library supports the need for LegacyTracker for consumers but also for providers.

An ongoing list (in no particular order) :

From Digital Insight: The  88% of consumers who now pay bills and transfer funds online, 62% would like a single place to manage their complete financial picture, no matter where the information originates. Households on average have more than three financial institution relationships for wealth and savings solutions and up to six credit card accounts.

2011 US Trust Insights on Wealth Survey: A survey of wealthy Americans with $3M or more of investable assets 56% of those surveyed have not documented personal property and assets, and roughly half have not documented instructions about the distribution of personal property or assets among heirs; even though 25% acknowledge their heirs don’t understand their wishes for how to divide special possessions

2008 Innovations in Retail Financial Services IG&H Consulting & Interim: In financial services these days, a lot of companies struggle to win in severe price competition. However, a financial institution should develop its business on long-lasting & customer value driven business models; price is not enough. An element could be innovation.

2011 Banking on You by Thomas Watson, Cdn Business Magazine: Canada’s biggest banks are desperately trying to find new ways to connect with customers.

2011 Cdn Life & Health Insurance Association (CLHIA) : A national online survey of 1,504 Canadians over 18 by Leger Marketing showed only 26% of Canadians think their personal and financial information would be easy to access in an emergency. 56% said their personal & financial information is “somewhat organized” while 11% said it was “not very organized”

2010 Intuit Financial Online financial management survey: Banking customers view online financial management solutions from their bank or credit union as competitive differentiators. 52% of those surveyed said they would leave their current financial institution for one that offers better money management capabilities. Nearly 50% of respondents said they’d already switched banks or credit unions recently. and one-third of them switched because their financial institution did not provide satisfactory online solutions

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