April 18 New York – Corporate Insight, the leading provider of competitive intelligence and customer experience research to the financial services industry, today announced the release of its new Digital Advice Audit service, which benchmarks all aspects of a firm’s digital advice user experience, from account opening and onboarding to the secure customer web and mobile platforms. The Audit provides an in-depth and objective assessment of a client firm’s digital advice offering, revealing key competitive strengths, weaknesses and opportunities for improvement.

The Digital Advice Audit is supported by Corporate Insight’s in-depth survey from late 2018 of 1,110 digital advice customers and interested prospects. The survey collected detailed data on digital advice customers’ expectations, behaviors, preferences and satisfaction with their provider’s technology and overall service. It also gathered data from prospective clients, including insights into the factors that could persuade them to begin a digital advice relationship. This survey research informs Corporate Insight’s Audit framework and analysis, including the actionable recommendations that are the key output of a Digital Advice Audit engagement.

“An excellent digital experience will be increasingly important as the robo advice market becomes more crowded and price declines across the industry,” explains Jennifer Butler, Senior Analyst leading Corporate Insight’s digital advice research. “Our Audit benchmarking data suggests many robo advice provider websites fail to meet expectations in such areas as goal planning and education. Mobile functionality – which is ‘very important’ or ‘extremely important’ to 72% of the digital advice customers we surveyed – tends to be even weaker.”

“Our research suggests there is plenty of opportunity for digital advice providers to improve their online and mobile capabilities,” explains James McGovern, VP of Research and Consulting at Corporate Insight. “Fortunately, the Digital Advice Audit provides a powerful combination of competitive benchmarking, investor survey data, and actionable recommendations that can help firms identify and correct their digital experience problems and focus on building a best-in-class service and sustained competitive advantage.”

Corporate Insight covers the following digital advice providers in the Digital Advice Audit:

  • Ally Invest Managed Portfolios
  • Betterment
  • Charles Schwab Intelligent Portfolios
  • Charles Schwab Intelligent Portfolios Premium
  • E*TRADE Core Portfolios
  • Fidelity Go
  • Merrill Guided Investing
  • Morgan Stanley Access Investing
  • Personal Capital
  • SigFig
  • TD Ameritrade Essential Portfolios
  • UBS Advice Portfolio Program
  • S. Bank Automated Investor
  • Vanguard Personal Advisor Services
  • Wealthfront
  • Wells Fargo Intuitive Investor

For more information on the Digital Advice Audit or to schedule an interview with Corporate Insight, please contact:
Will Maroni

About Corporate Insight
Corporate Insight provides competitive intelligence and user experience research to the nation’s leading financial institutions and healthcare insurers. For over 25 years, the firm has tracked technological developments in the financial services and healthcare industries, identifying best practices in online banking and investing, asset management, insurance, retirement plans, mobile finance, active trading platforms, social media, fintech and other emerging areas. Corporate Insight uses live accounts at all the firms it researches, providing clients with unparalleled, unbiased intelligence on the competition. For additional information on Corporate Insight, please visit our ‘About Us’ page.