As wealth management firms in Canada continue to shift their focus and their outward branding away from transactions and trading to a focus on financial empowerment and freedom, clients’ expectation...
BMO and Wealthsimple Rank Highest in Respective Segment
TORONTO: As wealth management firms in Canada continue to shift their focus and their outward branding away from transactions and trading to a focus on financial empowerment and freedom, clients’ expectations for personalized guidance are growing. According to the J.D. Power 2024 Canada Wealth Management Digital Experience Study,SM released today, while some firms are delivering on client demands for personalized experiences on their mobile apps and websites, many more are struggling to get beyond the basics of transactional digital relationships with their clients.
“Almost every wealth management app and website is delivering on the basics of functionality in terms of looking good and being well-organized, but few are leveling up to offer the kinds of digital experiences clients expect from their wealth management firms,” said Craig Martin, executive managing director and global head of wealth and lending intelligence at J.D. Power. “Of the firms that are going above and beyond by offering proactive guidance, helping clients set personal financial goals and helping them meet those goals, only a small fraction of them have managed to crack the code with websites and apps that reinforce their overarching brand messages.”
Following are key findings of the 2024 study:
“The messaging of wealth management firms has clearly moved in a direction of education, empowerment and guidance, but if the functionality of digital tools doesn’t match the messaging, J.D. Power sees a disconnect in the customer experience,” said Jon Sundberg, senior director of digital solutions at J.D. Power. “For those firms that are delivering on the right message and the right digital experience, their significantly higher overall satisfaction scores translate into increased levels of brand loyalty.”
Study Rankings
BMO ranks highest in overall customer satisfaction with the full-service wealth management digital experience, with a score of 753. TD (746) ranks second and Desjardins (736) ranks third.
Wealthsimple ranks highest in overall customer satisfaction with the self-directed wealth management digital experience, with a score of 754. RBC (719) ranks second and CIBC (696) ranks third.
See the rank chart for each segment at http://www.jdpower.com/pr-id/2024156.
The Canada Wealth Management Digital Experience Study evaluates customer satisfaction with the wealth management digital experience, inclusive of both apps and websites, based on four factors: visual appeal; navigation; speed; and information/content. This year’s study is based on responses from 4,860 full-service and self-directed investors and was fielded from June through August 2024.
For more information about the Canada Wealth Management Digital Experience Study, visit https://www.jdpower.com/business/jd-power-ca-wealth-management-digital-experience-study-award-information.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services, and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behaviour, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 55 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business.
About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info
Fonte: Business Wire
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