LOS ANGELES--(BUSINESS WIRE)--Investor’s Business Daily (IBD), a leading financial news and research organization, today announced the results of its second annual Most Trusted Financial Companies survey. Conducted in collaboration with TechnoMetrica, IBD’s polling partner, the survey measured customers’ trust in financial companies, ranking organizations objectively to help consumers make informed decisions based on the factors that matter to them. This year’s list is based on input from more than 6,000 respondents who rated companies of which they are clients.
“When it comes to choosing a financial services company, trust is a crucial component today,” said Susan Warfel, managing editor of IBD. “In our survey, 98.4% of respondents said trust is important to their relationship with financial companies, including almost 90% who said it was very important. Investors turn to IBD because the Top 25 Most Trusted Financial Companies list is not a competition judged by a panel; winners are not chosen by editors subjectively. The companies on this list actually earned the trust of their customers.”
The Most Trusted Financial Companies research included companies in eight lines of business: auto insurance, banks, credit card issuers, ETF/mutual fund companies, home insurance, life insurance, online brokers and wealth management. Life insurance and ETF/mutual fund companies were added to the Most Trusted Financial Companies survey this year. Rankings were based on five trust components that consumers indicated were most important to them in a Phase 1 survey: a company’s commitment to protecting the privacy and security of personal data, quality of products and services, ethical business practices and values, fair prices/fees for products and services and customer service.
This year, IBD ranked 74 companies that passed its minimum inclusion criterion. The top 25 were chosen from across the business lines and represent the companies with the highest overall trust ratings. IBD also spotlighted the top three companies with the highest trust ratings in each of the eight business categories. According to the data, online brokers and ETF/mutual fund companies are most trusted by consumers, while banks and life insurance companies are the least trusted.
The Most Trusted Companies list was developed based on subscriber interest in IBD’s unbiased insights into which financial companies had earned high levels of customer trust. When polled, 89% of respondents indicated IBD’s seal of approval would increase their likelihood of trusting a company, with 83.5% indicating that IBD’s data would boost the likelihood of them purchasing a particular company’s products or services.
Top 25 Most Trusted Financial Companies
The following companies received the highest ratings overall. Some companies earned high rankings in multiple businesses:
- USAA: Auto Insurance
- USAA: Home Insurance
- Vanguard Brokerage: Online Brokers
- Charles Schwab: Online Brokers
- Vanguard: ETF/Fund Companies
- Fidelity: ETF/Fund Companies
- T. Rowe Price: ETF/Fund Companies
- Discover: Credit Cards
- Fidelity: Online Brokers
- Ameriprise Financial: Wealth Managers
- TD Wealth: Wealth Managers
- TD Ameritrade: Online Brokers
- USAA: ETF/Fund Companies
- Fidelity: Wealth Managers
- Charles Schwab: ETF/Fund Companies
- Erie Insurance: Home Insurance
- Schwab Private Client: Wealth Managers
- American Express: Credit Cards
- Auto Club Exchange (AAA insurance): Auto Insurance
- Ally Invest: Online Brokers
- T. Rowe Price: Wealth Managers
- American Funds/Capital Group: ETF/Fund Companies
- Merrill Edge: Online Brokers
- ARK Invest: ETF/Fund Companies
- Northwestern Mutual: Life Insurance
Most Trusted Companies by Line of Business
Breaking down the top vote-getters across the eight specific lines of business, the winners were:
Auto Insurance:
- USAA
- Auto Club Exchange (AAA insurance)
- State Farm
Banks:
- TD Bank
- Citi
- PNC Bank
Credit Cards:
- Discover
- American Express
- Citi
ETF/Mutual Fund Companies:
- Vanguard
- Fidelity
- T. Rowe Price
Home Insurance:
- USAA
- Erie Insurance
- State Farm
Life Insurance:
- Northwest Mutual
- Prudential
- MetLife
Online Brokers:
- Vanguard Brokerage
- Charles Schwab
- Fidelity
Wealth Management:
- Ameriprise
- TD Wealth
- Fidelity
To find out more about this year’s winners and read analysis of the respective categories, please visit www.investors.com/MostTrusted.
The 2021 IBD Most Trusted Financial Companies logo and accolades are available for licensing through Investor's Business Daily's partner, The YGS Group. For more information and ordering, please contact IBDlicensing@theygsgroup.com or call 800-290-5460.
About IBD
Investor’s Business Daily is the leader in stock research and education. For over 35 years, IBD has helped countless investors around the world make more money in the market and reach their financial goals.
Founded by legendary investor William O’Neil with the goal of democratizing stock investing, IBD provides its customers access to the same type of research Wall Street uses to make big profits. All of IBD’s products and content are based on the CAN SLIM Investing System, which uses historical precedent to identify leading stocks before their big price increases.
IBD helps its customers succeed in the market with its unparalleled stock research and education. IBD’s customers have access to its proprietary research, including market-beating stock lists, exclusive stock ratings and powerful investing tools that help them make more profitable trading decisions. In addition, IBD provides customers with world-class investing education that includes complimentary coaching, interactive webinars, explanatory articles, live workshops and more.
IBD reaches investors around the world via its main website, Investors.com, its suite of digital products (IBD Digital, MarketSmith, Leaderboard, SwingTrader and IBD Live), mobile apps, a weekly print edition, social media and more. To learn more about all that IBD has available, please visit www.investors.com.
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