Advisers can't find information online from asset managers: J.D. Power

If you can’t navigate your asset manager’s website, you’re not alone. 

Clear site navigation is a core requirement to get financial advisers the information they need to make educated decisions about investment products, but asset managers are falling well short, according to the latest J.D. Power survey of more than 3,000 advisers. Just 37% of advisers surveyed said it’s very easy to find the information they need online and only 34% said it’s easy to find the tools they need to research investment products.

Just three of the 14 companies surveyed — BlackRock Inc., Capital Group Inc. and J.P. Morgan & Co. — received top marks in the 20th percentile, according to the research. 

“As we’re seeing consistently across every industry, customer expectations for immediate gratification, and easy access to tools and information, are being raised every day as more of our lives are conducted through digital channels,” Amit Aggarwal, senior director of digital solutions at J.D. Power, said in a statement. 

Financial advisers are choosing to work with asset managers not only based on their track records, but on the quality of the technology they can provide, like tools and added features available online. More than nine in 10 respondents said they were extremely likely to increase investment over the next three months if the company’s website was up to par. However, just 11% of the asset managers in the survey received top marks.

[READ MORE: Top 10 wealth mobile apps: J.D. Power]

For asset managers in the current marketplace, maintaining successful relationships with advisers is increasingly about getting the right features on websites and building digital engagement, according to the study, which was fielded from July through September and ranked websites based on four factors, including speed, content, visual appeal and navigation. 

The data showed the asset managers that have the highest levels of digital engagement were not only building the best brand perceptions, but pulling in the largest inflows of new investment from advisers. Likewise, asset managers with less digital engagement fell behind, according to the study.

“This puts a focus on advisor-facing websites as a critical component of the end-user experience and shines a light on some significant challenges many firms are facing when it comes to building engagement online,” Aggarwal said.