Introducing The Top 100 Most Loved Financial Services Brands
Our latest BrandVue report reveals the UK's most loved financial services brands, including investments and savings, highlighting the risers and fallers compared to 2020, whilst also shining light on the notable success stories.
Hargreaves Lansdown has set itself apart from the other providers in its category by being the only brand to increase its Brand Love score, climbing from 87th place to 32nd.
Our top three medallists for the investments and savings category this year are all digital providers and have capitalised on consumer demand for digital investments and savings platforms during the pandemic.
For the second year running, Moneybox is the frontrunner in this category. The beginner friendly, ‘save as you spend’ service is clearly still very popular, and despite having the lowest awareness out of our 2021 medallists, leads with the highest score on Brand Love.
We saw Moneybox come into its own last year by meeting the needs of everyday savers during the pandemic. Its service is essentially an integrated tool allowing consumers to round-up their transactions by as little as a few pence, which they can later choose to save or invest. The brand has experienced rapid growth since 2020, now with more than 700,000 users – almost double that of 2020.
Moneybox has built on the expansion this year by introducing an in-app mortgage advice service and a new simple saver account which boasts a 0.25% annual equivalent rate. But, despite still being the most loved investments and savings provider, Moneybox has slipped down the down the overall top 100 list by 11 places. Coming in close second is Hargreaves Lansdown, another provider aiming to make investing easy.
Similar to Moneybox, Hargreaves Lansdown has increased its userbase over the last year. The brand cashed in on the lingering Covid-19 trading boom, taking on 126,000 new clients at the beginning of 2021. Hargreaves Lansdown also captures a similar audience to Moneybox, offering advice on how to take charge of your savings and get started with investing. However, Hargreaves Lansdown has set itself apart from the other providers in its category by being the only brand to increase its Brand Love score, climbing from 87th place to 32nd.
In third place is Nutmeg, the first major player to enter the robo-advice space and now Europe’s largest digital wealth manager. Despite recently being acquired by JP Morgan Chase, consumer awareness of Nutmeg has stayed the same and the brand trails behind peers ranking 43rd. Hargreaves Lansdown and Nutmeg are ahead of our runners up from last year, Fidelity and Old Mutual, perhaps highlighting the importance of investments and savings houses having strong digital capabilities.
However, these digital platforms are still not as loved as payment platforms PayPal, Visa and Apple Pay which once again top the overall leader board.
Download the report here to see the full list of the Top 100 Most Loved Financial Services Brands and find out what it means for a customer to be ‘in love’ with your brand.