How HNWIs use Banks’ Mobile Apps and Digital Channels – Survey Data from the US, UK, Germany, France and Switzerland
This data-driven report explores the behavior, attitudes and preferences of HNWIs towards their wealth managers’ mobile apps across five key wealth management markets and outlines how wealth managers can successfully tailor their mobile offerings to these demanding client segments. The report is based on a panel survey across age, gender, and wealth segments in the US, the UK, France, Germany, and Switzerland - addressing the mobile needs and preferences of 1,000 affluent and high-net-worth individuals.
The analysis details the functions and features that are in strongest demand and determines how satisfied affluent and wealthy clients currently are with the mobile app offerings from their wealth managers. The results are segmented and analyzed overall and for different age groups and wealth segments. Further, the report offers a detailed analysis of the country findings for the US, the UK, France, Germany, and Switzerland.
Additionally, the report includes a gap analysis that examines how top ranked wealth managers’ apps (according to our latest ranking) respond to the expectations of the wealthy clients interviewed in the survey.
By providing valuable insight into the following questions, this report is THE resource to understand how to engage wealthy clients through mobile channels:
Which digital channels should financial advisors use to interact with their clients?
Why do so many clients refuse to use their wealth managers’ mobile apps? How can wealth managers overcome their rejection?
Which five features MUST a wealth manager’s mobile app offer? Which features are less important?
How satisfied are the wealthy with their banks’ mobile channels?
For which devices should wealth managers offer their mobile apps to reach the affluent and wealthy? Why is the desktop still so important?
What are the major concerns of clients in respect of their wealth managers’ mobile apps? How should wealth managers address them?
Which HNWI segments are the most demanding and how best to cater for their demands?
Which features should mobile apps have to appeal to specific age groups among the affluent and wealthy?
What active features for managing investment portfolios are most commonly required by respondents?
Should automated investment recommendations be part of a mobile app?
Who are the super digital users? How important are they for wealth managers and what features do they use/demand most?
What are the behavior, attitudes and preferences of HNWIs towards their wealth managers’ mobile apps in the US, the UK, France, Germany, and Switzerland?
What are the similarities and differences in the mobile usage patterns of HNWIs across countries? What do they mean for wealth managers?
To what extent do the ten top ranked wealth managers’ apps satisfy the most important needs of wealthy clients as interviewed in the survey?
How should wealth managers (re-)tailor their mobile strategy solution to satisfy HNWIs’ needs and gain a competitive advantage?
The report includes more than 49 graphs and charts, and it comes with three additional files:
Key insights deck containing an easy-to-understand six-slide presentation that summarizes key findings for quick sharing.
86 data slides showing the detailed results of our survey presented overall, by age group, by wealth segment, and by country
Gap analysis (spreadsheet) detailing how top ranked wealth managers’ apps (according to our latest ranking) respond to the expected must-have features as stated by the wealthy clients interviewed in the survey.
This gap analysis looks at the mobile apps offered by: ABN AMRO, BNP Paribas, Credit Suisse, DBS Private Bank, FNB, Investec, J.P. Morgan Private Bank, Merrill Lynch, Société Générale Private Bank, and UBS.