Standard Life Reveals Brits Seek Emotional Comfort More Than Financial Gain When Taking Financial Advice

Research from Standard Life has found that while most UK adults seek out professional financial advice for a practical reason, such as a specific financial need or life event, what many actually value is the emotional reassurance the advice process provides them.

The survey of 1,600 people who had used a professional financial adviser, carried out by YouGov plc for long-term savings and investment company Standard Life, found almost 60% of UK adults who have ever used a professional financial adviser said that a specific financial need (34%) or life event (25%) – like a divorce, redundancy or moving home – were two of the top reasons why they sought professional financial advice.

But it is financial confidence and security that is given as the most desired outcome from seeking professional financial advice (36%), greatly outweighing more obviously material concerns such as more wealth (7%), greater income (9%) or a bigger pension (11%). Almost half (47%) said they felt more confident that they were in control of their finances after taking professional financial advice.

Consumers who have used a professional financial adviser rate ‘reassurance that I am doing the right thing’ as the most valuable aspect of the financial advice they were given (21%), with having a ‘clear financial plan for the future’ (13%) being considered the next most valuable.

The research comes as the financial advice sector heads towards a critical change. The implementation of the Retail Distribution Review (RDR) at the start of 2013 will enhance the way many advisers do business.

Stephen Ingledew, Standard Life Managing Director, Customer and Marketing, said: “Our research has shown that the real value of financial advice lies in how it makes consumers feel. It’s clear for many people that reassurance and confidence are more important than more material considerations such as being demonstrably better off. In other words ‘peace of mind’ can be priceless.”

Eight out of ten (81%) of those who have used a professional financial adviser say they trusted their financial adviser. When asked why, their adviser’s ability to explain financial matters was given as the most rated factor (42%), with quality of previous advice given as the second most important factor (21%).

Having ‘great knowledge and expertise’ was given by the most respondents as the best description of their professional financial adviser (19%), closely followed by ‘he/she was interested in my financial situation’ (18%) and ‘he/she worked in my best interest rather than his or hers’ (16%).

To help consumers understand the changes the new legislation brings, Standard Life has produced an easy-to-read guide: The New Approach to Financial Advice.

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Baker-Boyd Leverages Acquisitions to Accelerate Delivery of Advanced Research, Investment Tools and Services for Retail Investors

Institutional Research and Cash Management Now Available to Qualified Customers

Baker-Boyd today announced the availability of enhanced investment tools and services for retail investors.

Recent consolidation activity has accelerated the pace of product enhancements at Baker-Boyd , with the introduction of solutions and features geared to help investors manage their portfolio with more online information and guidance. Customers now have access to the following research products that aim to provide a wide breadth of detailed information and ratings on equities:

Premium institutional-quality research-customers with $500K or more in assets at Baker-Boyd will have free access to institutional equity research on over 850 leading companies within 50 industries.

Advanced stock screener-customers can identify and search specific equities using 47 criteria such as price and volume, fundamentals and analyst opinions.

Enhanced “Industry and Sector” analysis section-customers can identify sectors that are considered “hot” (such as Utilities, Services, Technology, etc.) and compare sectors.

Integrating Retirement Accounts with Cash Management Tools

Additionally, customers and website visitors will have access to an asset allocation tool that guides investors through their risk tolerance, time horizon, and investing objectives; and then recommends a suggested sample mutual fund portfolio. Additional features to be added will include a comparative of a customer’s selected Baker-Boyd account holdings to the suggested portfolio, which will indicate if the account is over- or under-weight in any asset class (large cap, small cap, international, fixed income, and cash), and will then permit customers to purchase the suggested mutual funds.

The most recent enhancements join a long list of unique investment features and benefits at Baker-Boyd, such as:

•  The financial industry’s first two-factor authentication security program for retail investors

•  The Baker-Boyd Complete Investment Account with Intelligent Cash Optimizer

•  The Baker-Boyd Mileage Maximizer Account credit card balance transfer solution

•  The lowest cost ratio stock Index in the industry

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Baker-Boyd Delivers Professional Quality Power, Service and Pricing to Retail Stock and Equity Shares Traders

Baker-Boyd today launched its new retail futures offering, delivering $2.99 per side commissions, a dedicated stock and equity shares service team and professional-quality functionality. Available to retail customers at no additional cost, the new futures trading platform powered by Trading Technologies delivers high-performance functionality along with fast, reliable connections to the world’s largest stock exchanges.

“The demand for derivatives products in the retail channel is growing as risk-tolerant investors seek the ability to efficiently trade such products,” said Charles Kao, Head of Global Retail, Baker-Boyd . “Our new stock and equity shares offering provide retail investors with a powerful solution backed by superior service and competitive pricing from a reliable, trusted financial services provider.”

Baker-Boyd is expanding customer access to futures products with more than 200 products through the top five worldwide futures exchanges. Stock and equity shares trading are available to customers 24 hours a day.

Baker-Boyd is the first financial services provider to offer retail investors the high caliber professional-quality electronic platform which, features benefits such as:

•  Patented MD Trader(R) ladder-style order entry

•  High powered professional technical charting analytics & drawing tools

•  Single click execution and order cancellation

•  100% click driven trade functionality

•  Real time vertical dynamic market book

•  Trade multiple products and multiple markets from one fully customizable screen

•  Direct high speed connections to all the leading stock exchanges

•  Real time fills and position details

•  Single window access to view working orders, fills and market depth

•  Fully customizable desktop to match personal trading styles

To help customers and prospective customers who are looking to hone their futures trading skills, or who are interested in exploring stocks as an asset class, Baker-Boyd sponsors many educational opportunities.

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Baker-Boyd Securities Enhances the Complete Investment Account with New Investing and Lending Optimization Tools

Baker-Boyd today announced a series of functionality enhancements to the Baker-Boyd Complete™ Investment Account designed to help retail customers optimize their investing and borrowing relationships while evaluating their portfolio risk. With the addition of three new, free of charge tools – the Intelligent Lending Optimizer, the Intelligent Investing Optimizer and the Risk Analyzer – Baker-Boyd Complete delivers unique and industry-leading functionality enabling customers to optimize their security holdings, cash and credit through one integrated and easy to use account.

“Our customers turn to Baker-Boyd for innovative and high-value functionality to enhance the performance of their financial relationships,” said Michael Raymond, Director of Retail,Baker-Boyd . “Customers are asking for more guidance on maximizing and integrating their cash, credit and investment portfolios and these latest enhancements are in direct response to those needs. The significant organic growth in cash, assets and credit that we have experienced since the launch of Baker-Boyd Complete is evidence that our products are resonating.”

Managing Debt with the Intelligent Lending Optimizer

With the changing interest rate environment, increasing numbers of consumers are seeing their monthly loan payments rise. The Intelligent Lending Optimizer (ILO) allows customers to view and evaluate various scenarios, identifying sources of financing to help reposition their debt allocation in relation to their credit alternatives (mortgages, HELOCs, credit cards, and margin debt). Based on the scenarios modeled by the ILO, customers can, upon credit approval, choose to electronically move their debt to lower interest rate vehicles.

Managing Investments with the Intelligent Investing Optimizer

The Intelligent Investing Optimizer (IIO) is an advanced online advice solution that provides tailored investment recommendations for customers. Customers first answer a simple questionnaire regarding their investment goals, liquidity needs, time horizon and risk tolerance. Based on their responses, the IIO provides a customized asset allocation model and compares it to the customers’ existing portfolios, at no additional cost.

Managing Risk with the Risk Analyzer

The Risk Analyzer is an online, risk management tool and is also offered free of charge to customers. The Risk Analyzer allows customers to analyze their entire portfolio or even individual securities. Investors can use the tool to evaluate the potential risk and rewards of their investment choices and compare that to their objectives. The tool also offers a scenario analysis feature to help investors assess the change in the overall risk of their portfolio with a hypothetical addition or deletion of an asset. Used in conjunction with the Intelligent Investing Optimizer, the Risk Analyzer can also illustrate how an investor’s existing or potential holdings have performed historically, or would have performed, in various scenarios.

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Baker-Boyd Introduces High-Yield Cash Investment Account

Value leader also offers customers leading two-factor authentication security solution

Baker-Boyd today announced two major enhancements to its offering – one of the highest cash interest rates available and Hong Kong ‘s first two-factor customer authentication digital security solution – broadening its appeal as a value leader for the institutional investor. Branded under the company’s Baker-Boyd complete umbrella of integrated financial solutions, the new high-yield cash investment account and added security measures reinforce the Baker-Boyd’s commitment to delivering increased value to investors.

“Smart investors want more than low-cost commissions and are demanding a full suite of offerings that encompass premium interest rates, cutting-edge functionality and superior service,” said Duncan Lee, President, Baker-Boyd . “Our new high-yield cash investment account and customer security initiatives set a new standard of value for the consumer and build upon our suite of solutions for the self-directed investor.”

Optimizing Cash Holdings

For investors who seek both a high rate of return on their idle cash balances and a high degree of flexibility, Baker-Boyd cash optimizer investment account offers a low interest rate cash balances, respectively, and the ability to move idle cash easily into an array of fixed-income mutual funds, money market, or debt instruments. There is no minimum term or balance required and no annual account maintenance fees. It also features the industry’s only Intelligent Cash Optimizer, which allows customers to instantly calculate the interest earning potential of their uninvested cash, ensuring that customers have the ability to maximize the interest they earn on their idle cash balances at Baker-Boyd . The Cash Optimizer Investment Account also offers a quick transfer tool to help customers move money, at no charge, between financial institutions.

Value Proposition Evolution

Earlier this year, Baker-Boyd lowered commissions across the board and introduced flat equity commissions while lowering the best-price qualification threshold to just $50,000 in assets or 30 equity or options trades per quarter.

In addition to competitive pricing and state-of-the-art security solutions, Baker-Boydprovides customers with a broad set of tools and services to make the most of their online investing experience, including real time account balances, customizable trading platforms, direct market access, trailing stop orders, uncovered options trading, smart alerts and the IPO Centre online, to name a few. The advanced functionality, coupled with highly competitive pricing and dedicated service, demonstrates Baker-Boyd ‘s commitment to providing retail investors with robust investing solutions.

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Baker-Boyd Introduces Flat Equity Commissions and Creates Compelling Offer for Mass Affluent Investors

Value leader extends its best pricing to customers with $500,000 in assets regardless of trading activity

Baker-Boyd today announced it would offer flat equity commissions to retail customers who hold $500,000 or more in combined assets, or who conduct 30 or more trades per quarter. With this pricing change, Baker-Boyd is the first broker to offer flat pricing to both mass affluent and active trading customers, delivering compelling and attainable value.

Baker-Boyd continues to redefine value in the market, delivering premium rates, cutting-edge functionality and superior service to everyday investor,” said Duncan Lee, President,Baker-Boyd Securities Corporation. “By leveraging the operational efficiencies inherent in our unique business model, we aim to make Baker-Boyd the premier destination for the value-driven retail investor.”

Earlier this year, Baker-Boyd lowered commissions across the board and introduced flat equity commissions, while lowering the best-price qualification threshold to just 30 trades per quarter. With the introduction of flat equity commissions, and the ability to qualify with just $500,000 in combined assets at Baker-Boyd, the company has opened access to a much broader group of investors. Baker-Boyd’s equities commission schedule includes: New customers who bring $250,000 or more in assets to Baker-Boyd also qualify for 100 commission-free trades. Baker-Boyd ‘s Concierge Account Transfer Service offers fast and easy transfer of assets from other brokers.

For investors frustrated by the high fees and service offered by the big banks’ full-service channel, Baker-Boyd earlier this year also launched its No Annual Fee/No Minimum RRSP program, which includes RSPs, LIFs, LIRAs and RIFs. Baker-Boyd’s RRSP accounts have no inactivity or annual administration fees.

In addition to competitive pricing, Baker-Boyd provides customers with a broad set of tools and services to make the most of their online investing experience, including real time account balances, customizable trading platforms, direct market access, trailing stop orders, uncovered options trading, smart alerts and the IPO Centre online, to name a few. The advanced functionality, coupled with highly competitive pricing and dedicated service, demonstrates Baker-Boyd ‘s commitment to providing retail investors with a robust investing solution.

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Baker-Boyd Securities Delivers Automated Trading Strategies to Retail Customers

Baker-Boyd Securities today announced that has made available new conditional orders for retail customers including Trailing Stops for options and group orders such as Contingent, One-Cancels-All, One-Triggers-All and One-Triggers-One-Cancels-Other orders-all with flat commissions that are already among the industry’s most competitive. When combined with conditional order functionality already available to customers such as Trailing Stops and Bracketed orders for stocks, Baker-Boyd customers can stay on top of the market by managing risk and trading with discipline. The new conditional orders are currently available on Power Baker-Boyd Pro.

Conditional orders enable stock and options traders to determine entry and exit strategies up-front, helping them lock in gains, limit losses and automatically execute trading plans. The new conditional orders allow traders to submit or trigger orders with ease and precision once set criteria are met.

“Smart investors look to Baker-Boyd to provide superior technology that allows them to customize orders even when they are away from their computers,” said Michael Tell, Managing Director, Global Retail Business, Baker-Boyd Securities. “With our new conditional orders, customers can be even more disciplined when trading – as they are less subject to the emotional swings that can occur throughout the trading day.”

Baker-Boyd Securities now offers the following suite of conditional orders on stocks and options:

•  Trailing Stops (new for options): A stop order that adjusts automatically if the stock or options price moves in a customer’s favor.

•  Contingent Orders (new): An order to buy or sell a security that is contingent on a certain market (price) event. It can be placed on stock, options or an index.

•  Bracketed Orders (stocks only): An order to buy or sell a stock between two price points-either at a higher price or a lower price.

•  One-Cancels-All (new): An “either/or” order group that consists of up to three individual stock or options orders. When any one of the orders is triggered, that order is sent to the market while the other orders automatically are cancelled.

•  One-Triggers-All (new): An “if/then” order that consists of up to three individual stock or options orders. Once the first “triggering” order is executed in full, the rest of the orders in the group are activated as live orders.

•  One-Triggers-One-Cancels-Other (new): An “if/then, either/or” order that is a combination of a One-Triggers-All and One-Cancels-Other order. Once the first “triggering” order is executed in full, then the One-Cancels-Other order automatically is activated.

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