Finance (Recent Studies)


Investor Knowledge
Category: Education & Regulation

How much do people in Ontario know about money and investing? That was the big question Investor Education Fund tackled recently. In October 2010, The Brondesbury Group developed a study of investor knowledge on behalf of the IEF and managed a survey of 1,000 people across the province. The survey included more than 20 questions about investing, borrowing and financial planning.  The focus was knowledge that an informed citizen might be expected to know rather than basic questions of financial literacy.  For more detailed information about the report, see http://www.getsmarteraboutmoney.ca/Investor-research/Our-research/Pages/financial-literacy-research.aspx  

Behavioral Segmentation of Investment Advisors
Category: Retail & Investment

Sophisticated analytical methods were used to identify the attitudes and behaviours that distinguish top investment advisors from their colleagues.  The study was based on an amalgamation of several internal databases relating to thousands of advisors.  Initial analysis was guided by suggestions from an executive brainstorming session and then advanced further as initial findings pointed to new directions.  The study also identified the best methods for supporting top advisors, as well as information needed to identify “rising stars”.

Investor Feedback on Strategic Priorities
Category: Education & Regulation; Retail & Investment

We recently conducted focus groups for the Investor Advisory Panel of the OSC  to gather the views and opinions of retail investors in the GTA on investor rights and protection and to gather feedback on the initiatives drafted in the OSC Statement of Priorities for the fiscal year 2011-12.

Testing ‘Disaster’ Communications
Category: Insurance & Pensions

Advised on a series of focus groups aiming to test communications potentially sent to clients in the event their financial institution had problems requiring special communications.  The effort was designed to assess understanding of information letters, as well as the content of the website aiming to answer all questions.  Our role included recommendations for changes in wording and tone to make communications more understandable to clients.

Accreditation Requirements for Foreign Entrants
Category: Education & Regulation

Worked with a licensing body to help set out accreditation requirements for foreign entrants to a profession based on a combination of education, work experience and examinations.

Identifying International Banking Opportunities
Category: Treasury Services

Working with a major global bank to identify cross-border and international opportunities with their North American clients by identifying new sources of information and providing guidance on their use, as well as through specialized data analysis.

Tracking Market Position in the P&C Market
Category: Insurance & Pensions

The international market for large corporate property & casualty insurance is both complex and competitive, but within Canada, cross-border business is highly concentrated. A leading global P&C insurer engaged us for the third time to assess and track their changing position in the market by speaking with a select group of consultants that dominate the business. The study pointed to continued improvement in our client’s position in the market, both in terms of market share and service quality.

Retirement Lifestyle Segments
Category: Retail & Investment

Using sophisticated analytical methods, we created a set of retirement lifestyle segments based on activity patterns of people age 60 and over, as reported in a Statistics Canada database.  After extensive profiling of each segment, we created a quiz with a decision support tool that allows people to identify the segment that is most likely to fit their behaviour and attitudes.

Emerging Issues in Asian Trade
Category: Treasury Services

Used secondary research and contact with key informants to identify key issues in Asian trade and how they related to the product offerings of a global bank.  This information was used to inform bankers, as well as providing the starting structure for a dialogue with the bank’s most valuable corporate clients in Asia.  

Long-Term Issues Affecting Client-Advisor Relationships
Category: Retail & Investment; Education & Regulation

This is an assessment of the key long-term issues that affect the relationships between investment advisor, client, firm and regulator including suitability of advice, client communications, advisor qualifications and oversight. Using a combination of secondary research and interviews with business opinion leaders, we identify both the salient issues and the people/information most capable of helping to deal with the issues.

Cost and Performance Disclosure  
Category: Retail & Investment; Education & Regulation

On behalf of a major securities regulator, we are investigating consumer understanding of disclosure information, as well as their preferences for getting information.  Preferences include usefulness of information for decision-making, timeliness, convenience, and delivery methods.

Strategy for the Commercial Health Market
Category: Lending & Other Services

Identifying profitable growth opportunities in the Canadian commercial healthcare market was the focus of this strategy study for a major Canadian bank.  The work involved extensive use of secondary databases, as well as interviews with key informants.  A future-oriented look that included changes in licensure and scope of practice formed part of the work.   

Student Loans – Uptake and Payback
Category: Lending; Education


This in-depth analysis looks at users of student loan programs compared to their cohort, as well as the factors that affect the progress of repayment of their loans.  This is a longitudinal study relying on a mix of databases, which reflect the background and experience of millions of borrowers over the years, as well as the impact of changes in borrowing policy.

Knowledge of Selected Regulatory Matters Among Bank Branch Staff 
Category: Retail & Investment; Education & Regulation

Developed and analyzed a study to assess knowledge of selected regulatory matters among bank branch staff using mystery shopping techniques.  The study looked at both staff direct knowledge and knowledge of how to refer people to appropriate sources that could provide needed information.

Assessment of Preparation of Licensed Public Accountants 
Category: Regulation

Following a process designed by The Brondesbury Group, we are involved in an ongoing assessment of the suitability of preparation of licensed public accountants in Ontario.  One of the projects recently led to approval of an additional accounting body in Ontario, while a more recent project focuses on reviewing an existing provider.  Our work focuses on both examinations, and the integration of information related to education and work experience with exams.  This is a team project involving the use of many outside experts identified by our firm.

Improving candidate performance
Category: Education & Regulation

A major financial institution wanted to improve the performance of its candidates on licensing exams.  A review of course material, internal examinations and best practices in exam development provided guidance for improving performance.

Online Learning and Key Events: Age 20-34 Study
Category: Education & Regulation; Retail & Investment

These studies assess how 20-34 year olds learn in an online environment, especially how they learn what they need to know about handling key life events like a new job, getting married or becoming a parent. The studies assess the most critical questions people need answered when they are managing key life events, as well as the strategies and sources of information they use to get answers.  The role of psychographics in shaping behaviour helps to understand what drives the strategies people use. Link to Summary.

Online Learning and Key Events: Age 35+ Study
Category: Education & Regulation; Retail & Investment

These studies assess how people age 35 and over learn about financial matters, especially those related to key life events. The studies assess the most critical questions people need answered when they are managing key life events, as well as the strategies and sources of information they use to get answers.  The role of psychographics in shaping behaviour helps to understand what drives the strategies people use. Link to Summary.  

Review of Certification Exams
Category: Education & Regulation

A major insurance education organization offers more than a dozen courses for training people in various aspects of insurance.  Each course has an exam, and taken together, far more than 10,000 exam papers are written each year.  Our role was to assess the quality of the exams in each course, as well as the systems which support the exam process, starting with the earliest stages of exam development and following the entire process right through to its end.  The work provided the organization with suggestions for future improvements, as well as providing a base for building an item bank.


Setting Service Standards for a Crown Corporation
Category: Treasury Services, Consulting-Organizational Support 

Thousands of pages have been written on what matters to trade clients but most is just a re-hash of well-known principles from industrial psychology.  There is little proof of what aspects of service make the most difference to client loyalty and spending.  In addition to interviewing benchmark competitors, our work reviewed existing research (including our own) to identify what changes client behaviour for better or worse.  In cooperation with our client, we then developed a framework for comprehensive service standards for the very few things that really matter to clients.  The standards are tested with clients for appropriateness and impact.  A strategy for implementation is the final element of the project.

Public Perception of International Aid & Development
Category: Synthesis

What do Canadians think about foreign aid, hunger, poverty?  What are Canadian public attitudes towards NGO’s and what is our knowledge of MDG’s?  We conducted a literature review to explore the existing sources of Canadian and international public opinion related to international development and aid.  We also looked for sources of Canadian opinion of the Government’s contribution to reducing poverty around the world.  Searches were conducted using both proprietary sources and public search engines.  A synthesis of information was provided in a written report, along with a bibliographic matrix, and a list of best sources to keep abreast of and maintain up-to-date knowledge of public perception on development/aid in Canada and around the world.

Adding Value to Advisor Service 
Category: Retail Investment 

In the mutual fund industry, efforts to stimulate growth and loyalty have often focused on providing added value to advisors.  To gauge the impact of these efforts, we surveyed a targeted group of advisors and gathered their views on how effectively top fund companies provide service to advisors that adds value.  This survey is now in its fourth year with tracking information yielding solid guidance to the effectiveness of the company’s efforts.

Appetite for Foreign Investment
Category: Pensions

Discussions with half of all mid-sized Defined Benefit plans in Canada looked at current investment inside and outside of Canada, including investment in alternative asset classes.  Looking to the future, the study assessed the likely changes in US and international investment over the next two years.  Countries and regions with specific investment appeal were identified. 

Helping Advisors to Help Top Clients
Category: Retail Investment

Using methods akin to a therapeutic interview, a select group of top mutual fund clients were interviewed about their advisor relationships.  The aim was learning what our client could do to help good advisors improve their sales and service.  The in-depth personal discussions identified what key investors wanted from their advisors but didn’t get, as well as identifying the ‘secrets’ they were reluctant to share with their advisors.  The selection of clients for the interview was based on an extensive analysis of unitholders and their buying patterns based on data drawn from several unitholder databases.

Global Assessment of Credit Default Insurance
Category: Insurance, Treasury Services

This study began with a detailed review of the websites of major competitors in the business including both ECA and private trade insurers.  This was combined with interviews with suppliers and senior bankers to develop a clear view of future trends in the market, as well as identifying gaps in needed products. 

Future of the Public Sector in Canada (5 Studies)
Category: Lending & Other Services; Education & Regulation; Treasury Services

How will the public sector build the capacity it needs?  How does economic sustainability relate to the environment?  What new types of integrated services will we see?  How will urbanization, immigration and an aging population change the future?  These topics and more are addressed in this opinion leader study based on in-depth personal interviews with the most influential people shaping the future of the public sector, as nominated by their peers. Participants include deputy ministers, mayors, executives, association heads, think tank leaders, academics, and other selected experts. The study identifies how the public sector will develop over the next 5-10 years and why this will happen. Royal Bank of Canada is the sponsor for the work. The study includes a special section on funding & payment transactions that identifies key services that a bank can provide to help its public sector clients prepare for the future. A very brief overview of each sector is available by clicking the link below.

      Federal & Provincial Government
Municipalities
Healthcare
Public Education (K-12)
Post-Secondary Education (PSE)

Trade Satisfaction, Loyalty & New Product Development
Category: Treasury Services

On behalf of a major bank, we evaluated client satisfaction and use of trade products, as well as client loyalty. We also identified how well current trade products meet underlying needs and what new products should be developed to meet future needs.

Global Trade Outsourcing
Category: Treasury Services

The study deals with the current state of outsourcing, changes over the past two years and likely changes over the next two years.  Topics covered include: services outsourced, market size and volume, impact of outsourcing, service delivery and the image of major insourcing banks.  Link to previous Overview of Findings. 

Future of Healthcare in Canada – Funding, Finance, Insurance & Benefits
Category: Lending & Other Services

Why is integration of healthcare the biggest issue for the next decade?  How will demand and capacity management improve the patient experience?  How will emerging labour shortages force our healthcare system to change?  How will technology change healthcare in the years to come? These topics and more are addressed in this opinion leader study based on in-depth personal interviews with the most influential people shaping the future of the public sector, as nominated by their peers. The study identifies how healthcare will develop over the next 5-10 years and why this will happen. Royal Bank of Canada and Manulife Financial sponsored the work. The study includes a special report on funding & financing issues, as well as a special report on insurance & benefits. For a brief Overview of Findings, click here.  For a copy of the full report, please contact lori.bottrell@brondesbury.com .

Financing Transportation-for-Hire in the US
Category: Lending & Other Services

This study evaluates current methods of financing transportation-for-hire in the US, as seen from the viewpoint of service providers, equipment owners, and equipment vendors. We assess buyer motivation and decision-making, as well as the competitive position of major providers. Recommendations for desirable new services are provided.

Impact of Financial Institution Mergers
Category: Insurance & Pensions

As governments scrutinize financial institution mergers, they wonder what is best for their country. The two key questions seem to be “What types of mergers most benefit domestic consumers?” and “What types of mergers help build the country’s ability to compete internationally?” Since politicians are often guided by a mix of national opinion leaders and informed local public opinion, we set out to understand what these groups think about FI mergers. Link to Overview of Findings. Version Français

Strategy for a Financial Protection Company
Category: Education & Regulation

Problem:  Develop a long-term strategy and tracking plan within 3 months
We developed a strategy for increasing general awareness of a financial industry protection company and specific awareness of its coverage. This included identification of target groups based on several criteria that indicate a "need to know" about its coverage, as well as a long-term strategy for better communicating with these target groups.  The strategy development began with the identification of target groups based on group size, awareness patterns, product understanding, financial need and risk of financial losses.  Specific communication strategies were identified for each target group based on their preferred means of communication and the key messages that would be effective for reaching them.                                             
Method: Identification and synthesis of existing information including client surveys, government statistical sources, published research studies & articles and a few additional purchased studies. In several cases, the databases for studies and statistics were re-analyzed to extract more information.