According to E*Trade’s latest quarterly study of investors, “ease of use” is the biggest driver of customer satisfaction with online investing tools. Two out of three investors surveyed said that more than anything, they want to feel confident when using online investing tools, and more than half said they are looking for peace of mind. This was truer for baby boomer investors than for millennials, who indicated they also want online investing to bring them excitement and joy in addition to confidence. E*Trade said digital tools can make their tools easier to use and inspire confidence among users by focusing on core tasks, demystifying investment choices and guiding investors every step of the way.
The Insured Retirement Institute, the association representing the retirement income industry, has partnered with compliance tech provider RegEd to introduce a training program on the Department of Labor’s fiduciary rule. Unlike fi360’s new training program, unveiled last week, IRI’s training initiative is aimed not only at helping advisors comply, but also call center personnel, branch managers, back-officer operations professionals and compliance officers. It will cover all investment products, including annuities and mutual funds. Through the RegEd partnership, professionals who complete the training will be able to earn continuing education credits, and firms can incorporate the training into their learning management systems. “Training will be one of most critical parts of implementing the DOL’s fiduciary rule, which is the most massive regulatory change to impact the industry in decades,” said Cathy Weatherford, IRI president and CEO.
JPMorgan Chase has named two executives to lead its new combined wealth management and investment services division. Barry Sommers, previously head of the firm's consumer bank, will be CEO of wealth management, overseeing the private bank and JPMorgan Securities. Brian Carlin, former CFO of the bank's asset management unit, will be CEO of investment and banking solutions, responsible for wealth management products, including investments, lending, banking, technology and operations, Bloomberg reports. Thasunda Duckett, formerly head of the auto finance unit, will be replacing Sommers at the consumer bank.