Despite this expectation, 40 percent do not strongly agree that their firms are meeting this need, a gap that is more pronounced in Canada compared to the United States, where 30 percent express similar dissatisfaction.
Clients report higher overall satisfaction when digital platforms exceed basic functionality. Satisfaction scores rise nearly 100 points on a 1,000-point scale when platforms combine foundational performance with intuitive experiences.
Security concerns, however, significantly impact satisfaction. Scores drop by 141 points among full-service clients and 143 points among self-directed clients when they perceive personal information as insecure.
Jon Sundberg, senior director of digital solutions at J.D. Power, explained, “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.”
Among the firms evaluated, BMO ranks highest in customer satisfaction for full-service wealth management digital experiences, achieving a score of 753.
