Highlights

The following text-mining analysis and visualization looked at the open-end response following the question, “Q24. Has your asset manager provided you with enough information and solutions regarding the management of portfolios for retirees to ensure consistent income generation?”

We had an overall 2711 distinct survey repondents (after removing 3 duplicated IDs). We collected 1428 (or 53% out of total) feedback to the open-end response. 70% of respondents answered yes to the question. The same distribution (70% answered “Yes”) was observed repeatedly across the four segments and did not vary significantly in different dimensions/categories (as seen in below cross-tabs).

The relative term-frequency chart displayed the most frequently used words (relative to the opposite group) applied by the “Yes” and “No” respondents. The chart displayed the magnitude of how these words were used differently between the two types of respondents, such as people who answered “Yes” were over 4 times more likey to use the word “provided” or over 2 times more likely to menion “portfolios”; in contrast, people who respondend “No” were almost twice as much to mention “generation” than their counterpart.

In addition, the co-occurrence charts displayed the “network” of the most frequent (e.g. top 40) pairing terms within 3-word distance between group. Obviously, respondents shared many feedback in common. However, something was noticeably missing in the “No” group and these were found in the “Yes” group only, e.g “white papers”, “long term”. On the other hand, the “No” group had “portfolio management”, “total return”, “mutual fund” not found in the “Yes” group.

Lastly, we presented three word clouds, i.e. overall word cloud, comparison cloud (words differed among the four segments) and commonality cloud (words most commonly used among the four segments).

Cross-tab, % distribution for each dimension/category

## $segment
##              
## x               No  Yes
##   CRUISERS    0.29 0.71
##   CULTIVATORS 0.30 0.70
##   EXPANDERS   0.31 0.69
##   PERFORMERS  0.30 0.70
## 
## $q1_how_would_you_categorize_yourself
##                                               
## x                                                No  Yes
##   Broker-Dealer                                0.24 0.76
##   Dually Registered (as RIA and Broker-Dealer) 0.25 0.75
##   RIA                                          0.39 0.61
## 
## $q2_how_would_you_categorize_the_firm_you_work_for
##                       
## x                        No  Yes
##   Hybrid RIA/BD        0.32 0.68
##   Independent BD       0.22 0.78
##   Independent RIA      0.44 0.56
##   Insurance            0.15 0.85
##   National/Regional BD 0.26 0.74
##   Other                0.29 0.71
##   Wirehouse            0.24 0.76
## 
## $q3_how_would_you_categorize_your_primary_client_focus
##                       
## x                        No  Yes
##   High Net Worth       0.32 0.68
##   Mass-affluent        0.31 0.69
##   Retail / mass-market 0.23 0.77
##   Ultra-High Net Worth 0.38 0.62
## 
## $q7_aum_same_breaks_as_in_wave_1_2017
##             
## x              No  Yes
##   $101-$250M 0.27 0.73
##   $50-100M   0.28 0.72
##   <$50M      0.32 0.68
##   Over $250M 0.31 0.69
## 
## $total_assets_firm
##            
## x             No  Yes
##   $250-500M 0.42 0.58
##   $501M-1B  0.33 0.67
##   <$250M    0.41 0.59
##   Over $1B  0.25 0.75

Relative term frequency usage between “Yes” vs. “No”

Co-occurrence analysis: terms most frequently pairing with each other within 3-word distance

Word Cloud

Comparison Cloud - four segments

Commonality Cloud - four segments