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Beyond banks' resilient reputations

Beyond banks’ resilient reputations

A look at where institutions' support shines and where it slips

  • By: Katie Keir
  • August 23, 2019 November 1, 2019
  • 00:21
How advisors rated their banks

Report Card on Banks 2019 main chart

How advisors rated their banks

  • By: IE Staff
  • August 23, 2019 October 7, 2020
  • 00:20
Business man at a fork in the road

Growing divide

The banks' top producers significantly outperformed their colleagues

45720671 - woman working in home office hand on keyboard close up

Tech, back office need upgrades

For more than five years, these categories have had the highest satisfaction gaps - and those gaps are growing

financial advisor explaining investment plan to couple on laptop at office desk

Room for improvement in planning support

As banks invest in software and training, advisors wait for the payoff

TD, CIBC, BMO and other skyscrapers in Toronto in spring

Assessing banks’ product shelves

The Report Card's product-focused categories remain important to advisors

  • By: Surina Nath
  • August 23, 2019 November 1, 2019
  • 00:16
89530191 - etf. exchange traded fund. business, internet and technology concept.

Bank advisors want to leverage ETFs

Report Card on Bank respondents were vocal about the value of these products

  • By: Surina Nath
  • August 23, 2019 November 1, 2019
  • 00:15
Advisor pay a sticking point

Advisor pay a sticking point

Respondents' satisfaction linked to bank's compensation structure

Tax-planning gaps for branch advisors

Tax-planning gaps for branch advisors

As clients demand more, these planners may need additional support

RCB 2018 page 9

Banks deliver for their advisors

Advisors praised their banks' reputation, strong communication efforts and extensive support services, but work remains to be done in other areas

RCB 2018: How advisors rated their banks

Report Card on Banks 2018 main chart

How advisors rated their banks

  • By: IE Staff
  • June 22, 2018 November 1, 2019
  • 00:12
workforce team work business people in motion success corporate ladder employees appointment notice

Advisors were split on banks’ training

Some banks were praised for their ongoing training efforts, while others still have work to do

RCB 2018: The average advisor

A return to growth for advisors’ books

The banks have put accusations of poor sales practices behind them, as advisors report having larger, more productive books

Desperate accountant head in hands surrounded by bills on paper tape, 1950s style office

Back-office services fall short

The support advisors need from their back offices is critical, but banks are failing to deliver in this important category

  • By: Leah Golob
  • June 22, 2018 November 1, 2019
  • 00:09
close up view of new 100 Canadian dollar banknotes

Praise for HNW support

Banks have specialized support services, products and referral arrangements to help advisors take care of the wealthy

High angle view of businesspeople shaking hands and closing a deal

Banks are communicating effectively

Advisors praised their firms' efforts at achieving strong, two-way communication - although some exceptions remain

Toronto bank towers

Mixed reviews for marketing efforts

Banks deliver on their advertising campaigns, but more can be done in marketing support for advisors

Bank skyscrapers in downtown Toronto

Banks’ reputations holding up well

The bad press that the banks received as a result of reports regarding unfair sales practices had little impact among clients

Report Card on Banks 2017 main chart

How advisors rated their firms

  • By: IE Staff
  • June 22, 2017 November 9, 2019
  • 23:50

Banks are failing to meet expectations

Surveyed advisors said much work is required in some key areas, such as support for tax planning, compensation, pensions and technology

Pension plans leave much to be desired

Advisors have high expectations of their banks' pension plans, but many bemoaned the changes their firms have implemented

Banks deliver on clients’ online access

Advisors praised their banks' websites and mobile apps for being easy to use and providing clients with access to accounts

Some support services are lacking

Advisors have various reasons for their dissatisfaction with their banks' support for both tax and wills and estate planning

Changes to paycheques upset advisors

Scotiabank, National Bank and CIBC advisors were quite vocal in their disapproval of changes to their paycheques

Banks are falling behind in technology

Advisors cited technology as one the key areas that their banks could most improve upon