Wealth Management Apps Essential to Attracting and Retaining Younger Investors

Mobile apps and websites have increasingly become the first resources that investors consult to review their investments, make transactions and conduct research, putting the focus squarely on digital as a critical component of the overall wealth management client experience. According to the J.D. Power 2022 U.S. Wealth Management Digital Experience Study,^SM the trend is particularly pronounced among younger investors, who have significantly higher overall satisfaction and stronger brand advocacy when they engage frequently with their firm’s wealth management app.

“Wealth management firms that want to attract and retain younger investors need to focus on continuing to improve their apps,” said Michael Foy, senior director of wealth intelligence at J.D. Power. “The mobile app really is becoming the center of the modern wealth management client user experience, and that’s true not just for do-it-yourself investors but also for those who work with a financial advisor. App users are engaging much more frequently with their brand and, when they have a positive experience, are also much more likely to recommend that brand.”

For additional key findings from the 2022 study, read the full press release >>