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High Net Worth Customers Underwhelmed by Wealth Management Mobile Apps, J.D. Power FindsCOSTA MESA, Calif., March 11, 2019 /PRNewswire/ -- While the mobile app has become the interaction channel of choice for many industries, utilization of wealth management mobile apps is among the lowest of all industries studied by J.D. Power. According to insight provided in the preview of the J.D. Power 2019 U.S. Wealth Management Mobile App Satisfaction Study,SM released today, concerns about security are likely affecting usage rates and result in negative influences on satisfaction and customer advocacy. "The wealth management industry faces some key challenges when it comes to digital adoption with an older client base and a legacy service model that relies heavily on high-touch personal contact from an advisor," said Michael Foy, Senior Director of Wealth & Lending Intelligence at J.D. Power. "However, to meet higher customer expectations for convenience and personalization while maximizing advisor efficiency and productivity, wealth firms must ensure that their mobile solutions are meeting expectations for ease of use, range of services and security." Following are key findings of the study preview:
"Wealth management firms have set a high bar for the overall customer experience and it is critical that their mobile apps keep pace," Foy said. "Highly affluent customers are always on the go, have limited time and are using mobile apps in all aspects of their life, so they have high expectations." The full inaugural study, complete with a list of award recipients, will be released in November. The study evaluates customer satisfaction with wealth management mobile apps based on five factors (in order of importance): range of services/activities; clarity of the information provided; ease of navigating; appearance; and speed of screens loading. The preview of the 2019 U.S. Wealth Management Mobile App Satisfaction Study is based on responses from 2,478 full-service and self-directed wealth management firm customers. It was fielded in November-December 2018. The 15 mobile apps evaluated in the study include:
For more information about the J.D. Power U.S. Wealth Management Mobile App Satisfaction Study, visit https://www.jdpower.com/business/resource/us-wealth-mobile-app-study See the online press release at http://www.jdpower/pr-id/2019033. J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe. Media Relations Contacts About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info
View original content to download multimedia:http://www.prnewswire.com/news-releases/high-net-worth-customers-underwhelmed-by-wealth-management-mobile-apps-jd-power-finds-300808455.html SOURCE J.D. Power |