J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
One of the interesting questions J.D. Power asks Financial Advisors is what firm they would choose to work for if they had to leave their current firm. Channeling my inner Richard Dawson, top 3 answers on the board....
#1 - Start their own practice / join a small practice - 24%.
#2 - Retire / leave the industry - 18%
#3 - None - 13%
So 55% of the roughly 3000 advisors who answered this question chose to not pick any of the firms that were listed.
https://lnkd.in/ekkrxsqf
J.D. Power - ZappyRide | Industry-Leading EV Software, Data and Services with Robust Analytics and Consumer Intelligence Solutions to Empower EV Transformation for Manufacturers, Utilities, Fleet Operators and Consumers
The All-New J.D. Power Initial Quality Study is following 99,000 new cars for 90 days. The study is based this year on responses from 99,144 purchasers and lessees of new 2024 model year vehicles who were surveyed after 90 days of ownership. For the first time, the study incorporates repair visit data based on hundreds of thousands of real world event reports. This extra data allows automakers the ability to quickly identify potential issues before they become bigger problems.
It's not surprising that the introduction of new technologies, especially with #ElectricVehicles, has challenged OEM's/manufacturers to maintain vehicle quality.
When my wife and I purchased our first #EV back in 2020, a Tesla Model 3, we had two warranty issues: A plastic reflector near the rear passenger side tail light fell off. Secondly, there was an issue with the glass roof which caused the glass to crack. We have since upgraded to a Model Y last year and we have also had two warranty issues, one being an issue with a faulty tire where the noise reducing foam on the inside of the tire dislodged and caused vibration issues, and second was the 3rd row seat belt straps that bleed color onto the white seats. None of these repairs were associated with tech. Many of the tech issues were resolved with over-the-air software updates, something that is really convenient with most newer vehicles, especially #EVs.
This one really takes the cake though: We had a brand new Audi Q5 (internal combustion engine) back some time ago. A check engine light came on along with a message telling us to turn the engine off immediately. The car only had about 3,000 miles on it. The Audi dealership towed the car to the dealership to analyze and they came back to us saying they needed to replace the entire motor. We ultimately ended up getting a brand new replacement vehicle.
Would love to hear in the comments any issues you've experienced shortly after purchasing a new vehicle and then check out our Initial Quality study via this #motormouth video to learn more: https://lnkd.in/g7WJGjJZ
J.D. Power - ZappyRide | Industry-Leading EV Software, Data and Services with Robust Analytics and Consumer Intelligence Solutions to Empower EV Transformation for Manufacturers, Utilities, Fleet Operators and Consumers
The 2023 J.D. Power Sustainability Index showed that nationwide, 82% of #ElectricUtility customers are served by a utility with a stated carbon-reduction target. However, only 19% of customers are aware of those targets, and just 26% believe U.S. utilities will ever achieve the goal of 100% #CleanEnergy.
Has anything changed in 2024?
Join us for a special U.S. Sustainability Index results webinar on Tuesday, July 30th at 1pm EST. Our experts will review enhancements to this year's study, the latest results, and more. Open to all interested #utilities
Registration Link: https://lnkd.in/dDtKsvte
💸J.D. Power 2024 U.S. Financial Advisor Satisfaction Study: Key Insights
The latest study reveals significant findings: More than one-third of financial advisors are open to changing firms, driven by factors like compensation, technology, and support. Yet, true loyalty hinges on meeting core needs and fostering a strong cultural connection.
📈 Key Findings:
- Advisor Mobility: 34% of employee advisors and 41% of independent advisors are considering leaving their current firm.
- Satisfaction Drivers: Employee advisor satisfaction rose by 49 points, while independent advisor satisfaction dropped by 15 points.
- Leadership & Culture: Critical for advisor retention, especially among less tenured advisors.
Discover more about the study's insights and rankings here: https://hubs.la/Q02GfFjj0#FinancialAdvisors#AdvisorSatisfaction#WealthManagement#AdvisorRetention#FinancialServices
🔍 Boosting Satisfaction: Key Insights from J.D. Power 2024 U.S. Business Internet Satisfaction Study 🔍
Proactive communication and digital account management tools are essential to boost satisfaction among business internet customers. The latest study finds that internet reliability and effective outage communication are critical for small businesses, while medium and large businesses benefit significantly from robust digital account management.
📈 Top Performers:
- Large Enterprise: AT&T ranks highest for the seventh consecutive year.
- Medium Business: AT&T leads again, followed by Verizon.
- Small Business: Verizon ranks highest, with AT&T and Frontier Internet tying for second.
Discover more insights and the full rankings: https://hubs.la/Q02GfhXP0#BusinessInternet#CustomerSatisfaction#JDPower#DigitalTools#ProactiveCommunication#InternetReliability#BusinessTechnology
Highlights from the 2024 U.S. Retail Banking Advice Satisfaction Study!
Discover the crucial findings from this year’s study in the J.D. Power Financial Service Update for June 2024. Plus, access the Financial Health Personas by watching the full video now.
By embracing innovation and prioritizing personalized experiences, banks and credit card providers can significantly enhance financial well-being.
👉 Watch the full video and access financial health personas at:
https://hubs.la/Q02G69xX0
In his latest column for Barron's, Craig Martin, Executive Managing Director, Global Head of Wealth & Lending Intelligence at J.D. Power, uncovers a critical issue plaguing financial advisors: over-reliance on technical jargon and analytics can alienate clients.
According to J.D. Power's research, 63% of clients struggle to understand their advisors' explanations. This disconnect significantly impacts client satisfaction and loyalty.
Advisors need to focus on building personal connections and understanding clients' goals and values. Simplifying communication and prioritizing meaningful conversations can bridge the gap and enhance client relationships.
Read the full article here: https://hubs.la/Q02G5FLc0#FinancialAdvisors#ClientRelationships#Communication#WealthManagement#FinancialPlanning#ClientSatisfaction
✈️ New travel stats: Are high prices giving travelers the summer blues?
Despite a slowdown in travel price inflation, travelers are still finding ways to save money this summer.
Want the latest travel trends? Reach out for more valuable insights: https://hubs.la/Q02Fh9n-0#Travel#SummerTravel#Summer#Traveling