October 2014 Trends & Highlights: Continued Revamp Activity, Apple Pay and Promotions

by on Nov 05, 2014



  • Site Revamps Keep on Coming – In another busy month for site revamps, New York Life revamped its public and advisor sites, while Edward Jones revamped its private site and American Funds launched a new and improved investor site. Furthermore, our Annuity Monitor, e-Monitor and Mutual Fund Monitor groups all covered Fidelity’s partial private site revamp, which featured a redesigned Accounts & Trade section complete with a new secondary navigation menu, a left-side account selection tool and redesigned pages.
  • Apple Pay Introduced to Customers – Five firms covered by Credit Card MonitorAmerican Express, Bank of America, Capital One, Citi and Wells Fargo – each introduced the much-anticipated Apple Pay service to clients via mediums such as public site information pages, step-by-step tutorials and press releases, among others.
  • Christmas Comes Early this Year – Five firms across various monitor groups introduced enticing promotions this month. Transamerica advertised a $500 cash giveaway for annuity clients who register for or are already enrolled in eDelivery. As reported by Bank Monitor, Citibank launched a new Citigold Account Package promotion, which offered a $400 cash bonus to applicants who opened an account by October 31, 2014, while Citizens Bank is offering a special online-only 1.20% APY on 15 month CDs with a minimum opening balance that expires on November 30, 2014. Already touched by the upcoming holiday spirit, Wells Fargo announced its offering of free credit scores and reports to all existing Wells Fargo customers who visit a branch before November 16, 2014 to receive their personal access code. Finally, TD Ameritrade advertised a new advisory fee rebate on its Amerivest managed portfolios that offers clients who place $25,000 or more into a managed portfolio a refund on any advisory fees if the portfolio experiences two consecutive quarters of negative performance (before advisory fees). The offer expires on September 30, 2015.



ShareBuilder Introduces Three New Private Site Tools

The first tool – “What If I Had Invested…” – displays past performances of specific securities in order to help clients understand how much a holding would be worth today based on hypothetical previous investments. The second tool – Portfolio Allocation – offers a breakdown of the holding in a client’s ShareBuilder account, and allows clients to view specific asset types and holdings in chart and graph format. The final new tool unveiled by the firm in October was an account performance chart that provides clients with the capability to track their accounts’ year-to-date performances with a time-weighted return.


New Portfolio Allocation Tool – ShareBuilder Private Site


Bank of America and Merrill Edge Launch New Preferred Rewards Program

The new three-tiered Preferred Rewards program replaced the former Platinum Privileges program offered by both Bank of America and Merrill Edge. The new program provides benefits to Bank of America checking clients with linked Merrill Edge and Merrill Lynch investment accounts and offers a full suite of financial and banking benefits to clients in three separate packages – Gold, Platinum and Platinum Honors – which respectively correspond with a certain required balance. The Preferred Rewards Platinum and Preferred Rewards Platinum Honors tiers offer investing-specific rewards, such as access to Merrill Edge’s MarketPro active trader platform and up to 100 free trades per month. While the Gold tier does not provide any rewards related to investing, it offers bonuses such as higher interest rates for Bank of America’s new Rewards Money Market Savings account, waived ATM fees, mortgage benefits and priority customer service.


Preferred Rewards Promotional Banner – Bank of America Public Site Preferred Rewards Program Overview and Transition Page


Preferred Rewards Promotional Banner – Merrill Edge Private Site Preferred Rewards Page


MetLife Introduces VIP Road to MetLife Stadium Sweepstakes

MetLife is giving away a trip for two to New York for an event at MetLife Stadium. The trip includes airfare, hotel accommodation and a $1,000 gift card. The sweepstakes applies to MetLife clients only, and the contest can be entered online or via mail until November 15.


MetLife VIP Road to MetLife Stadium Sweepstakes Entry Form