CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
TORONTO, Sept. 13, 2016 -- DALBAR released results for its much anticipated Robo-advisor Onboarding Experience study. Opening a new account is a critical first point of contact between a service provider and a client. DALBAR set out to investigate the onboarding process between a robo-advisor and its new clients. The study reveals some robo-advisors are clearly falling short of peer performance as well as of Canadian investors’ expectations for service in the wealth management space. Key service gaps include:
- Funding the account was the biggest challenge facing Canadian robo-advisors.
- Several firms encountered serious technical and logistical challenges using live chat effectively.
- It can take up to 8 steps to complete a new account open with a Canadian robo-advisor.
- Almost all robo-advisors did not discuss when portfolios are rebalanced.
“The fintech revolution is expected to disrupt the wealth management industry, but we can’t lose sight of who is in the driver’s seat, the client will ultimately decide how much they will embrace this new segment and who they will trust to manage their investments…the stakes are very high, tolerance for errors is low, so developing strong client relationships at the onset will be particularly important,” said Anita Lo, Vice President, at DALBAR.
DALBAR employed a case-study approach where 45 mystery shoppers were recruited from across Canada and the US to participate in an investigation of the onboarding process by opening a new robo-advisor account. Mystery shops took place between April and June 2016 at 10 Canadian robo-advisory firms and 5 US firms.
DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations of investment companies, registered investment advisers, insurance companies, broker/dealers, retirement plan providers and financial professionals. DALBAR awards are recognized as marks of excellence in the financial community.
For all news media enquiries, please contact: Kamia Grey-Anderson 617.624.7102 [email protected] 303 Congress Street Boston, MA 02210 USA +1 617.723.6400 T +1 617.624.7200 F www.dalbar.com 8500 Leslie Street, Suite 101 Markham, ON L3T 7M8 Canada +1 905.482.3023 T +1 905.482.3065 F www.DalbarRoboAdvisor.com www.dalbar.ca
