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Investors Business Daily
Investors Business Daily
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IBD STAFF

IBD's 30 Most Trusted Financial Companies

Our fourth annual Investor's Business Daily Most Trusted Financial Companies survey spotlights the enormous value consumers place on safety: the financial soundness of their wealth managers, insurers, banks and credit card companies.

In a year marked by bank failures, market upheaval and aggressive Fed tightening, our survey respondents showed us which companies proved worthy of their trust, among both storied veterans and newcomers.

IBD partnered with TechnoMetrica Market Intelligence to survey more than 7,500 consumers in polls conducted in May through July. Read our overview story, IBD's Fourth Annual Survey Of The Most Trusted Financial Companies.

It's the second year we are presenting our trust survey special report with our sister publication, MarketWatch.

We asked about companies in eight business categories: wealth management, banking, credit cards, ETF/fund companies, online brokers, plus auto insurance, home insurance and life insurance.

Read Our Category Stories On The 2023 Most Trusted Financial Companies In Investing, Insurance, Credit Cards And Banking

Financial Companies' Most Valued Qualities

Before the full survey, we asked 507 consumers in May to rate the importance of 12 trust attributes. The respondents were drawn from visitors to IBD's Investors.com website and email invitations to IBD readers.

Those attributes were narrowed down to seven:

  • Financially sound/secure
  • Quality of products/services
  • Ethical business practices and values
  • Privacy and security of personal data
  • Customer service
  • Prices
  • Sensitivity to customer needs in the current economic and financial climate (inflation, stock market, etc.)

Notably, we introduced a new attribute this year in the Phase 1 mix: Financially sound/secure.

Financially sound/secure received the highest weight in our study, topping our list of the most critical trust factors for a financial company.

In Phase 2 of the survey, we asked respondents to rate the financial companies they do business with, using the seven attributes. TechnoMetrica calculated an overall IBD Trust Index based on customer ratings for those seven attributes. Read more about the methodology

Here, we present IBD's 30 Most Trusted Financial Companies. Online brokers and ETF/Fund companies scored at the top of the Trust Index, but a bank breaks into the Top 10 this year for the first time in the IBD survey. Another highlight: Check out which firm scores a trust trifecta, earning the No. 1 rating in all three investment categories: ETF/fund companies, online brokers and wealth management.

Read all our 2023 Most Trusted Financial Companies content. For comparison, visit our 2022 Most Trusted Financial Companies list to see how companies scored last year.

30 Most Trusted Financial Companies By IBD Trust Index Rating

Rank Category Company Trust  index Sound Quality Privacy Ethics Cust. service Prices Sensitivity
1 Online Brokers Fidelity 87.8 92.5 88.8 89.2 86.2 86.5 84.3 82.7
2 ETF/Fund Companies Fidelity Investments 87.3 92.6 87.1 89.2 87.5 87.3 81.6 81.4
3 Auto Insurance USAA 87.2 92.6 89 91.6 86.9 86.3 78.9 79.1
4 Home Insurance USAA 86.8 91.3 87.9 89.5 87.8 86.5 78.9 80.4
5 Banking Schwab Bank 86.5 85.8 89.6 87.5 86.9 87.2 85.6 81.5
6 Wealth Management Fidelity Wealth Management 86.1 91.2 87.6 89.6 85.5 84.3 78.9 80.1
7 Online Brokers Charles Schwab 85.2 87.1 86.6 86.6 85.5 86 83.9 77.9
8 ETF/Fund Companies Charles Schwab 84.9 86.1 86.7 88 84.1 86.4 80 80.4
9 ETF/Fund Companies American Funds/Capital Group 84.8 87.6 87 87.5 85.8 84 75.4 82.7
10 Wealth Management Schwab Private Client 84.7 87.4 85.2 86.3 85.9 87.1 78.2 79.7
11 Credit Cards American Express 84.6 92.2 89.9 88.5 82.5 88.5 64.3 77.3
11 Credit Cards Discover 84.6 90.6 86 90.2 83.2 82.5 77.9 75.3
13 Auto Insurance Erie Insurance 83.8 87.6 89.7 84.6 79.5 87.2 76.9 76
13 Online Brokers TD Ameritrade 83.8 86.4 84.3 88.1 83.2 83.9 79 78
13 Home Insurance Erie Insurance 83.8 89.2 83 83.3 86.2 81.7 79.1 79.9
16 ETF/Fund Companies Vanguard 83.6 91.4 85.2 85.9 81.6 75.3 85 74.8
17 Online Brokers Vanguard Brokerage 83.3 91.4 81.5 85.7 83.8 75 85.3 74.8
18 ETF/Fund Companies USAA 82.5 84.4 81.6 88.4 80.8 82.2 76.9 80.7
19 Wealth Management Vanguard 82.3 90.3 81.8 86.9 78.8 77.8 83.1 70.7
20 Life Insurance Northwestern Mutual 82.2 89.8 83.8 86.5 86.1 80.5 67.1 73
21 Wealth Management Merrill Lynch Wealth Management 80.7 87.8 80.1 87.2 82.3 80.5 65.4 73.8
22 Auto Insurance Auto-Owners Insurance 80.5 86.8 84 84.7 81.2 80.4 70.3 68.1
23 Life Insurance New York Life 80.4 86.7 80.9 85.9 83.1 79.8 65.8 73.6
24 Auto Insurance American Family Insurance 80 85.1 84.2 81.4 77.7 82.2 70.6 73.1
25 Wealth Management Edward Jones 79.6 80.2 81.3 85.7 79.6 85.1 68.5 73.1
26 ETF/Fund Companies Wells Fargo Advantage Funds 78.4 81.7 80.2 83.2 72.5 77.9 76.3 73.3
27 Credit Cards U.S. Bank 78.3 81.4 79.3 83.2 77.1 82.6 69.6 70.5
27 Life Insurance Nationwide 78.3 82.1 77.1 80.4 78.4 79.7 70.8 76.1
29 Life Insurance State Farm 78.2 80.8 78.9 79.3 77.9 80.9 73.1 73.7
30 Home Insurance State Farm Insurance 77.4 86.1 79.9 82.3 78 77.5 61 67.6
Source: IBD/TechnoMetrica Phase 2 poll, June-July 2023, 7,597 respondents.
The Most Trusted Financial Companies logo and accolades are available for licensing through Investor's Business Daily's partner, The YGS Group, by email at IBDlicensing@theygsgroup.com or at 800-290-5460.
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