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Wealth Management App User Experience Improves but Still Lags Other Industries, J.D. Power FindsWealth management firms have invested heavily in upgrading their apps, with 75% making feature enhancements in the past year, up from 44% a year ago. However, according to the J.D. Power 2021 U.S. Wealth Management Mobile App Satisfaction Study,? released today, while these efforts are paying off in terms of greater utilization, improved engagement and higher overall customer satisfaction scores, wealth management still lags other industries when it comes to the overall app user experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211123005385/en/ J.D. Power 2021 U.S. Wealth Management Mobile App Satisfaction Study (Graphic: Business Wire) "The pace of customer adoption of mobile has accelerated dramatically across virtually every industry, and that's both an opportunity and a challenge for wealth management firms," said Michael Foy, senior director of wealth intelligence at J.D. Power. "Clearly, the investment that firms have put behind their digital strategies is having a positive effect on app user experience and overall utilization rates, but that same thing is happening everywhere, and some industries are just moving faster. Wealth management firms have some unique challenges because of legacy back-end technology and the sheer complexity and range of services they need to provide. But there are unique opportunities to leverage an app to deliver relevant educational content and facilitate communication with advisors." Following are key findings of the 2021 study:
The 2021 U.S. Wealth Management Mobile App Satisfaction Study evaluates customer satisfaction with wealth management mobile apps based on five factors (in order of importance): range of services; clarity of information; ease of navigating; appearance; and speed of screens loading. The study is based on responses from 3,025 full-service and self-directed investors and was fielded in July-August 2021. Study Ranking U.S. Bancorp Investments ranks highest in overall customer satisfaction with wealth management apps, with a score of 884. Chase Mobile (876) ranks second and Merrill Edge (870) ranks third.
For more information about the U.S. Wealth Management Mobile App Satisfaction Study, visit
To view the online press release, please visit http://www.jdpower.com/pr-id/2021161. 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 behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 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. The J.D. Power auto shopping tool can be found at JDPower.com. About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info
View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005385/en/ |