Financial institutions play critical role in financial guidance for customers

The Story: New data from J.D. Power’s annual U.S. Retail Banking Advice Satisfaction Study finds that financial institutions have a critical role to play in proactively providing financial guidance for their customers.  

The Takeaway: Post-COVID consumers are understandably reassessing their long-term financial goals as the economy rebounds. With banking customers actively planning for their financial futures, banks have a rich opportunity to build deeper, longer-lasting relationships by providing critical consultation right at the moment of need. Whether it’s products that help consumers save more or consultative advice for growing their wealth, banks and credit unions have the credibility and trust that consumers want from their primary banking relationships. 

Source: J.D. Power, U.S. Retail Banking Advice Satisfaction Study, June 24, 2021