Which Financial Services Brands Have The Best Equity With Consumers?

May 2, 2016

This article is included in these additional categories:

Brand-Related | Financial Services | Top Brands

TheHarrisPoll-Top-Financial-Brands-by-Brand-Equity-Apr2016Source: The Harris Poll

    Notes: The Harris Poll recently released results from its 28th annual EquiTrend Study, which ranks brands based on their brand equity (familiarity, quality and purchase likelihood) with surveyed consumers. Within the financial services industry, Fidelity Investments (discount brokerage), The Vanguard Group (investment), CHASE Bank (national bank), Visa (payment card), TurboTax (tax preparation) and Blue Cross and Blue Shield (health insurance) topped their respective categories once again.

    In fact, The Vanguard Group has experienced the 4th-largest gain in brand equity between 2014 and 2016 of any brand, per the report, which also found Capital One to have enjoyed the 6th-largest increase in brand equity over that time span.

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    Within the insurance vertical, State Farm topped USAA this year in the home and life insurance brand rankings, while AAA beat out USAA in the auto insurance rankings.

      Related: Marketing Financial Services to Millennials

        About the Data: The Harris Poll describes its methodology in part as follows:

        “The 2016 Harris Poll EquiTrend Study is based on a sample of 97,120 U.S. consumers ages 15 and over surveyed online, in English, between December 22, 2015 and February 1, 2016. The survey took an average of 30 minutes to complete. The total number of brands rated was 3,837. Each respondent was asked to rate a total of 40 randomly selected brands. Each brand received approximately 1,000 ratings. Data was weighted to be representative of the entire U.S. population of consumers ages 15 and over based on age by sex, education, race/ethnicity, region, income, and data from respondents ages 18 and over were also weighted for their propensity to be online. Respondents for this survey were selected from among those who have agreed to participate in Harris Poll surveys. Because the sample is based on those who agreed to participate in our panel, no estimates of theoretical sampling error can be calculated.”

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