Investor’s Business Daily and MarketWatch, two financial publications, have published a list of the most trusted financial companies without a single Fintech being recognized.
According to IBD, Marketwatch, the best of the lot went it comes to consumer trust are as follows:
- USAA: Auto Insurance
- Vanguard: ETF/Fund Companies
- Primerica: Life Insurance
- Fidelity Investments: ETF/Fund Companies
- Vanguard Brokerage: Online Brokers
- AllianceBernstein: ETF/Fund Companies
- USAA: Home Insurance
- American Express: Credit Card
- Discover: Credit Card
- Fidelity Wealth Management: Wealth Managers
- JPMorgan Funds: ETF/Fund Companies
- AIG: Home Insurance
- Charles Schwab: ETF/Fund Companies
- Fidelity: Online Brokers
- Schwab Private Client: Wealth Managers
- Ameriprise Financial: Wealth Managers
- Charles Schwab: Online Brokers
- TD Ameritrade: Online Brokers
- New York Life: Life Insurance
- USAA: ETF/Fund Companies
- State Farm Insurance: Auto Insurance
- State Farm Insurance: Home Insurance
- Progressive: Home Insurance
- Geico Insurance: Auto Insurance
- Wells Fargo Advantage Funds: ETF/Fund Companies
Susan Warfel, managing editor of IBD, commented:
“When it comes to financial services, people are looking to companies that they can trust. The Top 25 Most Trusted Financial Companies list is a critical resource for investors, with independent results that reflect the feelings of everyday customers.”
But where are the Fintechs? Perhaps they do not qualify (yet)? Or maybe the polled audience is not Fintech inclined?
IBD said that they surveyed IBD subscribers, the Wall Street Journal’s Opinion Leaders Panel, and their polling partner TechnoMetrica’s consumer network.
Compare the IBD/MarketWatch survey to the UK’s Competition and Markets Authority (CMA) which recently reported that the top banks were the purely digital ones – Starling Bank and Monzo. Maybe the US is simply behind the Brits.