JD Power survey shows wealth management apps falling short

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JD Power survey shows wealth management apps falling short

A new study from J.D. Power shows that wealth management apps are lagging other financial services in customer satisfaction, including apps from credit card companies, banks and insurance companies.

The J.D. Power 2019 Wealth Management Mobile App Satisfaction Survey shows, despite those concerns, that customers are more likely to remain loyal to wealth management apps and buy additional products from those firms. 

“The stakes are incredibly high for wealth management firms to deliver an exceptional mobile experience,” Michael Foy, senior director of wealth and lending intelligence at J.D. Power, said in a company release. “With competition intensifying to gain share of wallet across the various financial needs of emerging affluent clients, the mobile experience is a critical factor influencing investor decisions about considering new products and services.”

The report shows Charles Schwab & Co. and Wells Fargo rank highest among wealth management apps, each with a score of 865 out of 1,000. Edward Jones ranks third with a score of 864. 

Cover image: JD Power


 


Topics: Mobile Apps, Mobile Banking, Mobile Payments


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