Other major findings of "Blurring the Lines: The Impact and Important of Self-Directed Investing in Wealth Management" were:

Online brokers have gained a 3 percent market share from fullservice firms in both 2009 and 2010 in the U.S., while most types of fullservice brokerage firms either lost or maintained market share
Financial advisors to highnetworth investors estimate that about 25 percent of their clients have a selfdirected account and a financial advisor
Of the banks surveyed that currently lack a selfdirected offering, about half have plans to introduce such a service in the near future
Half of the 19 North American banks surveyed are enhancing their online channel in various capacities
The research found that an opportunity exists for meeting the needs of younger generations that have grown accustomed to accessing and purchasing products and services, both offline and online
More than half of the U.S. financial advisors surveyed in Aite Group's annual review of 400 advisors stated their firm does not offer a self-directed channel

"The technological innovations over the past 10 years have forever changed the way that consumers want to interact with their financial services firms," said Joe Stensland, senior vice president and managing director of wealth management solutions at Scivantage. "Our wealth management clients are looking to invest in a direct business model to cater to the needs of clients in a way that is scalable and costeffective. Having one platform in place that offers both, the full-service and the self-directed model, gives firms the potential to provide more options in products and services, and help grow their business."

Instant Insights /

Demand high for self-directed investment options

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