Fintech platforms outpace financial institution brokerages in new survey

It discovered Wealthsimple ranked the best in general satisfaction amongst DIY buyers with a rating of 708 out of 1,000 factors, adopted by Questrade with 661 factors. Self-directed brokerages from the six main banks ranked decrease, with BMO InvestorLine coming in final with 585 factors, not too removed from Scotia iTRADE with 599 factors.

In the meantime, Edward Jones topped the record amongst suggested buyers with a satisfaction rating of 726 factors, adopted by ATB Wealth and Raymond James, the report confirmed.

Digital investing fuels shift to human recommendation

Mike Foy, managing director of wealth intelligence at JD Energy, stated the survey reveals dangers and alternatives for fintechs and conventional banks. “Fintechs are successful DIY buyers on innovation and shutting the hole on belief, lengthy thought of a core benefit for the banks—and signalling intensifying competitors,” Foy stated in a press launch on Thursday.

However he stated there’s a chance for financial institution brokerages to retain purchasers and construct relationships as demand for human advisers grows, particularly amongst prosperous self-directed buyers. The survey exhibits almost half of prosperous DIY buyers with $250,000 or extra in belongings say they plan to work with an adviser throughout the subsequent 12 months. Some prosperous DIY buyers with kids and people utilizing a robo-advice sort of platform had been additionally trying to seek the advice of a human monetary adviser within the close to time period.

“This implies that digital instruments should not changing human monetary recommendation, however as an alternative might act as a gateway or stepping-stone, figuring out buyers’ extra advanced wants and pushing them towards human steering,” the report stated.

Survey finds gaps in wealth switch planning

The survey was primarily based on responses from 4,529 suggested and a couple of,882 DIY buyers and was fielded from September 2025 by January 2026. It evaluated investor experiences working with a wealth administration agency, in both an suggested or DIY capability, and checked out a number of metrics, together with the convenience of doing enterprise, resolving issues or complaints, and belief and worth for charges paid.

The report additionally urged advisers aren’t speaking in regards to the future wealth switch with their older purchasers. It discovered one in three buyers over the age of 60 stated their adviser mentioned future wealth switch with them and solely 11% stated their advisers urged assembly with relations to debate the matter.

“This presents a important business blind spot and a missed alternative for advisers to retain belongings and construct relationships with the following technology of purchasers,” the report stated.

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