New Survey Finds Fintech Platforms Surpass Bank Brokerages

Fintech companies are outpacing self-directed brokerages at traditional banks when it comes to investor satisfaction, according to a recent JD Power survey. The study shows that fintech platforms are not only winning on customer experience but are also viewed as more innovative while closing the trust gap that has long favored established banks.

The survey ranked Wealthsimple highest in overall satisfaction among do-it-yourself (DIY) investors, with a score of 708 out of 1,000 points. Questrade followed with 661 points. Self-directed brokerages from Canada’s major banks scored lower: Scotia iTRADE posted 599 points, while BMO InvestorLine came in last among the measured firms with 585 points.

Among advised investors—those who work directly with a financial adviser—Edward Jones led the list with a satisfaction score of 726, followed by ATB Wealth and Raymond James, the report found. These results highlight a bifurcated market where fintechs excel with self-directed clients and traditional advisory firms remain strong with those who prefer personal guidance.

Digital investing fuels a renewed demand for human advice

Mike Foy, managing director of wealth intelligence at JD Power, noted that the survey exposes both risks and opportunities for fintech firms and bank brokerages alike. “Fintechs are winning DIY investors on innovation and closing the gap on trust, long considered a core advantage for the banks—and signalling intensifying competition,” he said.

At the same time, the survey highlights a growing demand for human advisers, particularly among affluent DIY investors. Nearly half of DIY investors with $250,000 or more in assets indicated they plan to work with an adviser within the next year. The trend was also evident among affluent investors with children and among those already using robo-advice platforms—many of whom are now looking to consult a human financial adviser as their needs become more complex.

The report suggests that digital tools are not simply replacing personal advice. Instead, online platforms and robo-advisors often serve as gateways—identifying investors’ evolving needs and steering them toward human guidance when issues require personalized planning, tax strategies, or intergenerational discussions. This hybrid path—where technology handles routine tasks and advisers address complex, high-value interactions—appears to be an emerging model for wealth management.

Survey reveals gaps in wealth transfer planning

The JD Power study collected responses from 4,529 advised investors and 2,882 DIY investors between September 2025 and January 2026. It assessed a range of experience metrics, including ease of doing business, problem resolution, trust, and perceived value for fees. These measures offer a comprehensive look at how firms perform across everyday interactions and more consequential planning conversations.

One clear shortcoming flagged by the report is the limited dialogue around future wealth transfer. Only about one in three investors over age 60 reported that their adviser had discussed estate or wealth transfer planning with them. Even more striking, just 11% said their adviser suggested meeting with family members to address succession or inheritance issues.

JD Power described this as a critical blind spot for the industry. Failing to engage on intergenerational transfer not only overlooks an important client need but also misses an opportunity to retain assets and strengthen relationships with the next generation of clients. For advisers, proactively initiating family conversations and documenting succession plans can help preserve client relationships as wealth passes to heirs.

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Overall, the JD Power survey underscores a shifting landscape in wealth management. Fintechs are raising the bar for user experience and perceived innovation among self-directed investors, while traditional advisory firms still hold sway with clients seeking personalized service. The growing interest among affluent DIY investors in moving to advisory relationships—and the apparent weakness in wealth transfer conversations—signals practical steps firms can take: blend digital convenience with human expertise, and make family succession planning a routine part of client dialogue. Firms that successfully combine these elements are likely to strengthen client loyalty and capture the next wave of assets.