TORONTO--(BUSINESS WIRE)--May 9, 2024--
Strong capital markets performance and reduced trading fees are driving increased satisfaction among do-it-yourself (DIY) investors in Canada. According to the J.D. Power 2024 Canada Self-Directed Investor Satisfaction Study, SM released today, overall satisfaction with self-directed brokerages rises to 631 (on a 1,000-point scale), a significant 33 points higher than in 2023.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240509381734/en/
The lift in overall satisfaction this year is mainly driven by the younger investors, especially Gen Y 1 and to some extent Gen Z, whose scores increase an average of 71 and 24 points, respectively. While scores among Gen X also rise 21 points year over year, this generational group still has the lowest scores on average.
“The ranking draws a very distinct line among the firms that are perceived as having low fees or no fees as having significantly higher satisfaction,” says Craig Martin, executive managing director and head of wealth and lending intelligence at J.D. Power. “In 2024, low fees became the top reason given by new self-directed clients for selecting a firm, followed by personal recommendations. This has replaced the top answer in prior years: previous experience/relationship with the firm. This represents a potential threat to firms in which existing relationships with the organization are the main draw for new clients and could have broader implications about where clients choose to seek wealth management services.”
Following are additional key findings of the 2024 study:
Study Ranking
Wealthsimple ranks highest among self-directed investor firms with a score of 718. Desjardins Online Brokerage (Disnat) (714) ranks second and Questrade (661) ranks third.
The Canada Self-Directed Investor Satisfaction Study, now in its 16 th year, evaluates key satisfaction drivers and firm performance among true do-it-yourself investors (those who do not interact with financial advisors). The study measures satisfaction in seven factors (in order of importance): trust; digital channels; ability to manage wealth how and when I want; products and services; value for fees; people; and problem resolution.
The study is based on responses from 2,416 investors who make all their investment decisions without guidance from a financial advisor. The study was fielded from October 2023 through January 2024.
For more information about the Canada Self-Directed Investor Satisfaction Study, visit https://www.jdpower.com/business/wealth-management-platform.
See the online press release at http://www.jdpower.com/pr-id/2024039.
About J.D. Power
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 modelling capabilities to understand consumer behaviour, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 55 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business.
About J.D. Power and Advertising/Promotional Rules:www.jdpower.com/business/about-us/press-release-info
1 J.D. Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2006). Millennials (1982-1994) are a subset of Gen Y.
J.D. Power 2024 Canada Self-Directed Investor Satisfaction Study (Graphic: Business Wire)
MIAMI (AP) — Harrison Bader and Tyrone Taylor each drove in two runs in a four-run first inning, star closer Edwin Díaz was not used in a save situation and the New York Mets beat the Miami Marlins 7-3 on Sunday for just their second win in seven games.
Brandon Nimmo homered and Francisco Lindor singled twice following a 1-for-27 skid as the Mets rebounded from blowing a four-run, ninth-inning lead on Saturday and avoided a three-game sweep. New York stopped Miami’s four-game winning streak.
“You’re not defined by what you do the day before. You’re defined by how you get up from adversity,” Lindor said. “We wanted this one for sure. I think it’s important to win after a tough loss like that.”
Sean Manaea (3-1) allowed two runs and five hits in five innings. Sean Reid-Foley and Jake Diekman pitched an inning each, and Reed Garrett got his second save by allowing one hit over two innings with four strikeouts in a 34-pitch outing.
Díaz has a 10.80 ERA over his last eight appearances after serving up four homers in 8 1/3 innings. He has blown three of his last four save chances.
“We all believe in him. We all know he’s going to be back,” Garrett said. “Whenever my name’s called, I’ll pitch, but I know as a collective unit we all believe in Edwin and we know what he can do.”
New York (21-25) had dropped five games under .500 on Saturday for the first time since an 0-5 start.
“Not an easy weekend, not the way we expected, but we just have to continue to move forward,” Mets manager Carlos Mendoza said. “Today was a huge win for us.”
With New York ahead 4-3, Nimmo hit a two-run homer off Anthony Bender in a three-run ninth that included Brett Baty’s RBI single.
“I was just looking for a good pitch in the middle of the plate to drive,” Nimmo said. “I was able to hit that ball — good launch angle — and hit it hard. Found its way out of the ballpark.”
Nimmo returned to the lineup Saturday after missing two games because of a stomach illness.
“I’m coming around,” Nimmo said. “It’s been a little bit of a journey the last three days to get over the sickness. Right now, I’m just trying to get some appetite back. I’m definitely not at 100%. Just trying to battle through it and glad that I was able to help out there at the end and solidify the win.”
Dane Myers hit a two-run homer in the second, and Christian Bethancourt had a solo drive in the seventh against DIekman.
Sixto Sánchez (0-2) allowed four runs and six hits in four innings. He gave up Taylor’s two-out double in the first and Bader’s single.
“He was obviously better second through the fourth inning but he put us in a hole early,” Marlins manager Skip Schumaker said. “At this level it’s hard to come back from four runs every single time. He’s not giving his teammates a chance to win.”
Miami recalled right-handed reliever Emmanuel Ramirez from Jacksonville and optioned right-handed reliever Anthony Maldonado to the Triple-A farm team.
TRAINER’S ROOM
Mets: DH J.D. Martinez (flu symptoms) didn’t play but was available to pinch hit. Mendoza said Martinez played through the illness the prior two days.
Marlins: INF Tim Anderson (lower back tightness) homered and had three singles in five at-bats during a rehab game with Jacksonville on Saturday, then went 0 for 4 with a walk on Sunday.
UP NEXT
Mets: RHP Tylor Megill (0-1, 2.25) will start the opener of a three-game series at Cleveland on Monday. RHP Ben Lively (2-2, 3.06) will start for the Guardians.
Marlins: LHP Ryan Weathers (2-4, 3.81) is scheduled to start the opener of a three-game home series against Milwaukee on Monday. The Brewers will go with RHP Joe Ross (2-4, 4.61).
AP MLB: https://apnews.com/hub/mlb
New York Mets' Sean Manaea delivers a pitch during the first inning of a baseball game against the Miami Marlins, Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
New York Mets' Brandon Nimmo (9) and Francisco Lindor (12) congratulate each other after they scored on a double by Tyrone Taylor, during the first inning of a baseball game against the Miami Marlins Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
New York Mets center fielder Harrison Bader is unable to catch a ball hit by Miami Marlins' Josh Bell for a double, during the first inning of a baseball game, Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
Miami Marlins third base Emmanuel Rivera, right, tags out New York Mets' Harrison Bader as he slides into third base during the fourth inning of a baseball game, Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
New York Mets center fielder Harrison Bader (44) catches a ball hit by Miami Marlins' Josh Bell as both he and left fielder Tyrone Taylor (15) vie for the ball during the fifth inning of a baseball game, Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
New York Mets relief pitcher Reed Garrett, right, and catcher Omar Narvaez celebrate after the Mets beat the Miami Marlins 7-3, during a baseball game, Sunday, May 19, 2024, in Miami. (AP Photo/Wilfredo Lee)
