Perhaps that's a lesson that will not only help us all get through the challenges we face today, but make us stronger in the long run.
Chicago, IL (Vocus) March 3, 2009
David A. Noyes & Company, a Chicago-based investment firm, announced the results of its website vote for the greatest financial innovation in the last 100 years. As part of the firm's 100th anniversary celebration in 2008, users that logged onto their new website at http://www.danoyes.com were asked to submit their vote from a selection of ten major financial innovations--or submit their own.
Much like our presidential election, it was a landslide--56% of participants voted for retirement plan innovations, such as 401Ks and IRAs. The runner-up was electronic trading garnering 16% of the vote, and mutual funds taking only 6% of the tally.
"The financial innovation vote was something we did that paralleled both our 100th anniversary and the presidential election, but, more importantly, it was a way of getting people to think about the history of financial markets," says Mario Bernardi, Chief Operating Office.
Voters that submitted their email address and customers that logged onto their account were also automatically entered into a sweepstakes for three $100 American Express gift cards. The three winners were randomly selected on January 31, 2009 and were notified via mail.
"Although the economy is going through a rough stretch right now, it's helpful to consider how innovative the financial industry has been in the past when responding to adversity and individual investor needs," says John Bouckaert, President. "Perhaps that's a lesson that will not only help us all get through the challenges we face today, but make us stronger in the long run."
David A. Noyes & Company 2008 “Best Financial Innovation” Vote Polling Results*
401ks and IRAs: 56%
Electronic trading: 16%
Mutual Funds: 6%
Online Trading: 6%
Stock Market Trading Curbs: 1%
Hedge Funds: 1%
Variable Annuities: 0%
*This website poll was unscientific and solely intended to solicit opinions. Polling results compiled from February 2008 through January 2009.
About David A. Noyes & Company
David A. Noyes & Company is a full-service investment firm headquartered in downtown Chicago, with branches throughout the Midwest, including two in Indianapolis. Founded in 1908, the firm has the unique distinction of being the oldest New York Stock Exchange Member based in Chicago. The privately-held firm offers a comprehensive menu of products and services to individual and institutional clients.
For more information on David A. Noyes & Company visit http://www.danoyes.com
For more information contact:
Mario Bernardi, (312) 606-4608
John Mora, (815) 439-9160