It seems a tired trope to say that financial advisors need to invest more in digital, but the fact remains that many advisory firms still lack the robust tech experience their younger investors want, according to one survey.

The findings include that only 11.1% of advisory firms use customization tools to deliver more relevant, personalized content when clients visit their webpage. And only a small minority of firms send out emails that are mobile-responsive and don’t require resizing for the mobile form factor. 

Fees also continue to be a big topic of discussion. And despite industry-wide talk of more transparency, the survey found that only 30% of firms list fees on product profile pages. 

Overall, advisors need to offer robust digital services to attract and retain clients. 

According to InvestmentNews, the next generation of clients expects “the ability to tailor and personalize, the kind of convenience that allows access through a smartphone, pricing transparency, insights into what their peers are doing in the space, the ability to research, and engaging content.”

Compared with areas such as retail banking and payments, the financial advisory space hasn’t been as changed by the fintech revolution. But it’s clear the same old status quo won’t work, and many firms will need to up their game when it comes to digital offerings.