Investors Aren’t Finding Wealth Managers On GoogleInvestors Aren’t Finding Wealth Managers On Google

Financial institutions have a newfound urgency to update their technology. Whether it’s to connect with millennial investors, compete with robo advisors, attract the next generation of advisors, or comply with new regulation, firms of all sizes are allocating more of their 2017 budget towards digital tools.

For many companies, the launch of these digital tools also means forging a new digital footprint. A study of 70 financial services companies found that success ranges from feeble to gifted with technology regarding wealth management firms; even the robo advisor startups fall decidedly on the feeble end of the spectrum.

One particular area where wealth management struggles is with search results. According to L2, a digital research firm, Wikipedia is the top web destination for wealth management-specific terms like “401(k).” The only brand that cracked the top 10 was Fidelity Investments, which appeared on 12.8 percent of first-page results on Google searches.

“A fifth of brands generated no first-page listing (either organic or paid) against any keywords tested,” the L2 report said. “Of those that did gain traction, 38 percent were more reliant on paid listings than organic listings to secure token visibility.”