The poll results illustrate the communications challenge for financial institutions to convey the message that, despite the fears of cyber threats, advanced computer-based platforms can provide heightened security for financial information.
While HNW investors expect their investment firm to provide online access to account information (82%) and convenient and secure online account management (78%), some investors expressed concern about mobile banking cybersecurity, with 43% of HNW investors expressing a lack of confidence in the safety of their personal financial information online.
HNW investors feel that mobile technology gives them convenience, control and better organization of their finances. In fact, 82% consider online access to account information important, if not essential.
HNW investors express a lack of confidence in the safety of their personal financial information online. Millennial HNW investors, though, are roughly twice as likely as other HNW investors to feel very confident that their financial information is secure online and in their ability to protect this information.
The Investor Pulse Poll surveyed approximately 1,100 US households with at least USD 100,000 in investible assets, in late December 2018 and early January 2019. A third of respondents had investible assets of USD 1 million or more.
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