The Platforum Investor Experience Leaderboard is topped by AJ Bell Youinvest for the first time. The platform scores consistently across the board, receiving maximum marks for investment choice and top marks for cost (smaller portfolios), customer service, guidance and usability.
Hargreaves Lansdown delivers a market leading digital experience and is still the one to beat when taking price out of the equation. A competitive price has the highest influence on investors when choosing an investment platform, so this duly accounts for 25% of our overall score. In addition, we no longer include brand recognition in the scoring. Whilst still hugely important for investors, it isn’t strictly part of the user experience.
AJ Bell Youinvest tops the Platforum Investor Experience Leaderboard, followed by Hargreaves Lansdown, Fidelity Personal Investing and Charles Stanley Direct.
UK D2C: The Investor Experience, January 2018
Across the market, we’ve seen improvements around the digital experience. A few platform websites have been significantly enhanced and investment choice is widening via international dealing and Lifetime ISAs. Novice investors are receiving more help through enhanced guided user journeys.
In the twelve months to December 2017, there has been a reduction in the average pricing across our portfolio scenarios. This will be welcomed by the increasingly cost-conscious self-directed investors.
Customer service remains at high levels despite a higher average response time to our calls this year. Platform migrations have not helped here, but create good bases to build on.
We also see good stuff coming from digital wealth managers. Automated advice journeys are being seamlessly integrated and the investment choice will widen, with SIPPs on the roadmap for most.
Customer expectations are rapidly evolving and direct-to-consumer propositions need to continuously adapt in order to keep up the service and user experience demanded by self-directed investors.
Request a sample of UK D2C: The Investor Experience, January 2018