By Andrew Welsch
November 23, 2022
A longer article on the study is here.J.D. Power surveyed nearly 6,400 full-service and self-directed investors from June through August 2022. The consulting firm ranked firms based on their overall satisfaction with their wealth manager’s digital experience. J.P. Morgan Wealth Management ranked highest with a score of 728 out of a possible 1,000. Rounding out the top three are asset manager Charles Schwab , with a score of 726, and brokerage firm Edward Jones, with a score of 710.
Asset manager Vanguard, known for its low-cost index funds, ranked lowest with a score of 670. The industry average was 701. Vanguard’s app and website have suffered from tech glitches over the past year.
“Digital has become a key component of the overall wealth management customer experience,” Amit Aggarwal, senior director of digital solutions at J.D. Power, said in a statement. “Firms that are delivering the best overall digital experience are recognizing that their apps and websites are an extension of the client relationship and can be leveraged to improve relationships with advisors, drive brand loyalty and differentiate from the competition.”