Mobile apps are close to having almost as much traction as provider websites and are at the tipping point of becoming a routine part of advisors’ professional routines. In fact, provider mobile apps deemed best-in-class spawn an average of 5.8 advisor visits each month, while the comparable and more traditional provider websites garner an average of 7.1 advisor visits per month. These and other findings are included in the 2014 annual Advisor Touchpoints™ study from Cogent Reports™, a division of Market Strategies International.
According to this year’s report, advisors are seeking similar types of information from the two sources—including product information, client-ready marketing, economic information, portfolio analysis tools and thought leadership.
“These results show provider mobile apps and websites are on the brink of becoming interchangeable,” says Sonia Sharigian, senior product manager at Market Strategies and author of the report. “For providers allocating resource needs for 2015, mobile apps are no longer a nice-to-have but are an essential part of an integrated communications suite advisors value.”
In addition, Cogent Reports found reliance on mobile apps is positioned to grow, with one-fifth (19%) of advisors using mobile apps as frequently as or more often than websites. However, the best-in-class mobile app has yet to be developed.
“Nearly half (45%) of advisors who use apps struggle to name a leading provider,” adds Meredith Lloyd Rice, senior director at Cogent Reports. “The good news for providers is the field is wide open to become industry leaders in mobile-app content and innovation.”
About the Advisor Touchpoints Report
Director, Syndicated Marketing