TOPIC:

In your chosen field, identify a qualitative or quantitative variable that you might want to measure and compare between groups (e.g. from another month or quarter, between different groups or divisions, etc.). Determine the following:

1) Describe the situation (what groups will you compare and what observations or measurements will you be taking), including how and why this would be of interest.

2) Will the data you collect be qualitative or quantitative? This can be tricky! Remember that qualitative data is often collected as "yes/no" data (was a shipment on time, did an employee call in sick, is an employee up to date on required training, etc.) and is summarized in percentages (such as 85% of employees completed training). Quantitative data is a numerical measurement (profit, number of shipments, length of a call, etc.) and is summarized by central tendency.

3) State the null hypothesis for your statistical test.

POST:

At the firm I work for, brokerage accounts can either be managed (whether that is a robo portfolio or managed by and at the discretion of the advisor) and charged a fee or a traditional brokerage account that does not charge a fee and does not require regular trading. To access client engagement, we are comparing annual review meeting attendance between the two client types. Usually, we can assume that the clients paying a fee are more likely to meeting with the advisor and engage more often. For a specific example, one advisor I work for currently has 164 mananged clients in a fee based program. Through our tracking, we have averaged about 10 clients who do not care to engage annually. That is about a 93.9% engagement rate.

We do not actively track the non fee based accounts (which could prove to provide a lot of data is we did!), but from my own personal experience in the last few years, we do not actively see these clients unless they call in themselves and request a meeting past the initial investment.

We can define this data as qualitative because we are recording a yes/no response to the meeting attendance.

For the null hypothesis, clients with managed portfolios are more likely to attend annual review meetings than clients with traditional brokerage accounts. While we do not formally track attendance for traditional brokerage clients on my team, my personal experience over the last few years has been that if a traditional brokerage account client does not initiate the meeting themselves (and the market isn't super volatile or the client is not a family friend) annual meetings do not happen. To compare, manage clients are actively being scheduled for meetings as part of the service model. There is definitely a difference in here that would be work measuring more formally at some point.

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