CapIntel, the leading financial technology platform for wealth professionals, released the findings of a new study revealing a notable desire for more personalized services, according to 28 per cent of Canadian investors.

Bringing important insights for advisors this new year, the results of the 2024 CapIntel Investor Engagement Report, aims to give a better understanding of investor expectations in 2024. The report polled over 1,000 Canadian investors who work with a financial advisor, and found the majority of clients (75 per cent) are satisfied with their current financial advisor, but there’s room for improvement overall.

The survey revealed that during the rise in digital communication, the human element continues to be an important ingredient for strong client engagement. Indeed, in-person meetings are the preferred method of communication for nearly half of investors (41 per cent). However, client convenience seems to be on the rise with more than a quarter (28 per cent) preferring email, 18 per cent preferring phone calls, and 10 per cent choosing video calls.

“It’s never been more clear how important the client experience is for advisors. Canadian investors crave personalized advice from someone who understands their needs,” said James Rockwood, Founder & CEO of CapIntel. “As advisors look to impress clients in an evolving digital environment, they need to implement technology, like CapIntel’s intuitive sales enablement platform, to help streamline their processes and deliver investment advice that reflects a deep understanding of their client’s unique financial objectives.”

The #1 reason Canadian investors stick with their advisor is because they understand their personal situation and preferences well (65 per cent). And given the 28 per cent of Canadian investors who answered “more personalized advice tailored to my financial goals” when asked how their advisor could improve, the survey showed a clear demand for a wealth management experience based on understanding and relationship building over performance.

With new expectations comes the need for a new way of doing things. CapIntel’s OMNI solution unlocks the possibilities of personalized financial advice for advisors and investors. The digital investment proposals include engaging and educational components, allowing advisors and clients to interact with each other from wherever and whenever. It houses all the trusted data, tools, and functions of the CapIntel proposal generator used by 12,000+ advisors across North America, and now with an elevated online output. Learn more here or book a demo here.

Additional Study Findings

  • 78% of Canadian investors chose their financial advisor based on a referral from a bank/financial institution, previous advisor, friend or family.
  • 33% expect their advisor to check in semi-annually (twice a year) about their investment strategy. Quarterly check-ins are the next most popular, with 32% of respondents preferring this frequency.
  • Satisfaction is highest in Saskatchewan/Manitoba (81% combined), Alberta (80%), and British Columbia (74%). It’s lowest in the Atlantic provinces (59%) and Quebec (69%).

For more information on the study, visit https://hs.capintel.com/2024-investor-engagement-report

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