Investing and retirement can be complex. Delivering client communications that strike a delicate balance of providing a high-level of personalization, detailed reports on investment portfolios, performance summaries, and market insights while communicating to investors with varying levels of financial literacy isn't simple.
We conducted research with wealth industry clients to understand their communications experience from their provider and if they value the communications they receive.
Our key highlights below deliver insights into how Canadian wealth clients perceive these essential communications, pinpoint areas for improvement, and enhance the overall communication and delivery experience.
Gen Z wealth clients place a significantly lower value on essential communications from their provider. This is most likely due to being relatively new to investing and having fewer investments or smaller account balances than other generations.
86%
of Canadian wealth clients value essential communications from their provider. This is an increase of 8% from our previous research conducted in 2021.
We asked respondents what movie genre best reflects their wealth provider’s communications.
Foreign language was the genre they chose.
When clients receive statements or account information from their provider, they may struggle to understand the document. This may be due to industry-specific terminology used in the document, or the reader's level of financial literacy.
This can make those with less experience in investing feel overwhelmed and make communications difficult to navigate.
What can you do to improve this experience?
Wealth management clients expect detailed reports on investment portfolios to inform their financial decisions. Providing this detail while minimizing the use of complex industry-specific terminology where possible, and communicating in clear, simple terms is likely to deliver an improved experience to all clients.
Building strong, lasting relationships through consistent, informative, and personalized communication should remain a top priority.
“Sometimes the information could be put in simpler, down-to-earth language.”
— Male, Boomer
What if a communication is unclear or confusing?
46%
of wealth clients occasionally or frequently have trouble reading or understanding communications from their provider.
The most common behaviour amongst all
respondents is to contact customer service (45%)
followed by searching for information online (34%).
We are Computershare Communication Services
We exist to transform essential communications for our clients. Communications that are not only complex, but highly regulated. Communications with the power to build strong connections with customers.
Many challenges get in the way of optimum communications: new technologies, regulation changes, data challenges, different stakeholder objectives, cost pressures, changing customer preferences, and complex implementation.
With 30+ years of experience of functional and industry expertise and unparalleled insights, we seamlessly navigate these challenges to unlock value across your essential communications.
When you work with our specialists, you can be confident your communications will meet your business needs.