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PNC Retirement Survey Reveals Digital Connection And Expert Advice Crucial To Savings Success
The latest iteration of the PNC Perspectives of
Further, more than a third of these "very connected" investors crave even more connection, claiming that there is no such thing as having too much access to their finances.
"The most digitally connected investors tend to be better informed, which contributes to their success and positions them well for the future," said
The Most Digitally Connected Investors Still Seek Live Financial Advice
In fact, PNC's survey shows that nearly 6 in 10 of these "very connected" investors, take advantage of expert advice from a professional financial adviser.
Regardless of the level of connectivity investors maintain with their accounts on a weekly basis, PNC's survey findings also reveal that two thirds of investors want to hear from their financial adviser, particularly during an economic downturn or other periods of unpredictability. In fact, 22 percent were so eager to connect during the recent market downturn that they initiated a call with their advisers. According to survey respondents, general economic volatility is the No. 1 topic of discussion during these impromptu calls with advisers, and a little less than half see it as either an opportunity to make or a threat to lose money.
"Making a change in a portfolio during periods of market volatility is the chief source of regret among investors," said Ramassini. "A financial adviser can be a steady hand in times of stress and help avoid panic selling or buying. When it comes to successful saving, information – particularly information gained through a combination of digital resources and expert advice – is powerful."
Mobile Banking and
Among the digital tools investors use to connect with their finances, mobile banking apps are by far the most often mentioned. But there is room to grow, as only 58 percent of investors have used a mobile bank app in the last year. When it came to connecting with investment accounts, even fewer investors use mobile tools, about 37 percent. Just 17 percent of investors are using their investment firm's proprietary app. Yahoo Finance is the winner among third party apps, with 10 percent of respondents using it.
PNC Investments is a registered broker-dealer and investment adviser, providing a range of retirement and investing options, including brokerage accounts. PNCI provides guidance to help those just starting to invest, those who have been planning and investing for some time, and individuals nearing or in retirement. PNCI offers practical, strategic financial advice and insight to help clients achieve more with their money.
The PNC Perspectives of
An online media kit containing survey highlights, background information and infographic is available on PNC's website at http://pnc.com/pncpresskits.
The Perspectives of
The survey was designed by
This report has been prepared for general informational purposes only and is not intended as specific advice or recommendations. Information has been gathered from third party sources and has not been independently verified or accepted by The
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