Latest news with #J.D.Power
Winnipeg Free Press
13 hours ago
- Business
- Winnipeg Free Press
Choose your own adviser
Opinion A common downside about being a Canadian consumer is a lack of choice. Be it cell phones, cable and internet or even banking, it can feel the fight for our dollars is performative, opposed to being a matter of survival of the fittest among providers of goods and services. Surprisingly, that's less so when it comes to our investments. FREEPIK We have tens of thousands of advisers, more than a dozen robo-advisers and a similar amount of do-it-yourself (DIY) online discount brokerages to choose from. So much choice can be a challenge unto itself. Fortunately, if you are trying to pick an investment lane or just curious about what's out there beyond your own adviser, you can lean on a few annual studies to provide clarity. Among them is the J.D. Power Canada Investor Satisfaction Study, which rates full service brokerages — investment advisers — and discount brokerages, online trading platforms catering to do-it-yourself (DIY) investors. Among its notable findings is, 'contrary to popular belief, younger investors are even more interested in advice than older ones,' says Kapil Vora, senior director of wealth intelligence at J.D. Power. (Which makes sense given younger adults just starting out generally have less knowledge about investments.) Of course, the most notable facet of the study are the offerings that ranked first this year: National Bank Financial for full service brokerages; Wealthsimple Trade for the discount brokerages. National Bank comes out ahead because it's not too small. It's the sixth Big Bank, after all, with all the benefits, such as a wide shelf of products and services. Yet it's also not so big clients feel like numbers, Vora adds. Wealthsimple is prized by its users for innovation. It was among the first robo-advisers in Canada — offering automated portfolios of low-cost exchange-traded funds (ETFs) to suit investors' risk appetite and goals, all in a mobile app format. Then, Wealthsimple Trade launched in 2019 — a DIY platform that brought the widely successful no-commission trade trend in the U.S. to Canada. The platform is also a leader in making investing feel seamlessly easy. That said, most discount brokerages are pretty good at that, Vora says. 'You don't need a lot of money; you just need an app' is the credo of Wealthsimple and many other online trading platforms, including Questrade — which also now offers no-commission trading, he adds. Questrade ranks first among discount brokerages in another annual study. published a report earlier this year, evaluating online brokerages based on metrics such as desktop quality, mobile app functionality, fees and overall service. Questrade would have scored even higher, says Natasha Macmillan, business director of everyday banking at But the discount brokerage announced no-commission trading about a month after the Ratehub study was published. The Big Banks did well, too, in the report, with TD Direct Investing ranking best among them. 'It scored well because TD has a lot of learn-to-invest videos and in-depth analysis information,' Macmillan notes. As for robo-advisers, another study, this one by MoneySense, ranked Questwealth Portfolios (offered by Questrade) as the leader in the Canadian market. Notably, all studies found no full-service brokerage, online discount brokerage or robo-adviser is a terrible choice. All have strengths and weaknesses, and if you have a good investment strategy that is diversified, low-cost and well-suited to your goals, you are likely to make out OK, no matter your choice. Still, a few basic rules can help find the right fit. First off, do you want to invest on your own? If not, a full service brokerage — an adviser-guided experience — is a better match, says Marko Bilandzija, spokesperson for Manitoba Financial Services Agency. 'A financial adviser is a great fit for … people who don't have time or the interest to manage their investments.' Discount brokerages are for individuals with an interest in investing. 'You don't need to be an expert, but you have to be willing to do research,' Bilandzija says. Not everyone wants to do that, he adds. That said, you can always test drive the DIY experience. Many online brokerages offer practice accounts. The investment performance data is real, but the capital invested is not. Online resources also offer help in making a choice. That includes the Ontario Securities Commission's 'We recommend using the investor personality quiz because it helps you understand just what kind of investor you are,' says Theresa Ebden, vice-president of the OSC investor office in Toronto. Of course, whenever choosing an adviser or brokerage, make sure the individual and organization are registered with regulators. This is easy to do; just web search 'Check before you invest' or 'Are they registered?' Both take you to the Canadian Securities Administrators search database where you can find all licensed/registered brokerages and investment advisers in Canada. Wednesdays A weekly dispatch from the head of the Free Press newsroom. Not all advisers — like fee-only financial planners — may show up in searches, 'so if you're unsure, contact your local securities commission,' Ebden says. What's important above all else when making a decision is not to rush, she adds. 'Even though our world emphasizes speed, with investing, it's often best to slow things down.' Joel Schlesinger is a Winnipeg-based freelance journalist joelschles@
Hamilton Spectator
2 days ago
- Automotive
- Hamilton Spectator
Car shoppers pessimistic about Canada's zero-emissions vehicle sales target: survey
A new survey has found that the majority of car buyers don't think the Canadian government can achieve its target of 100 per cent zero-emission vehicle sales by 2035, as interest in electric vehicle purchases remains largely unchanged from last year. The survey from consumer insights firm J.D. Power found that 75 per cent of new-vehicle shoppers are not confident the 2035 target will be reached. The survey also found that 28 per cent of respondents are 'very likely' or 'somewhat likely' to consider an EV for their next vehicle purchase, down from 29 per cent last year and 34 per cent in 2023. J.D. Ney, director of automotive practice at J.D. Power Canada, said Canadians are still hesitant to embrace EVs for several reasons, with anxiety topping the list as they are worried about how far they can drive on a single charge. He said affordability and lack of charging infrastructure are other major factors. 'Based on the type of vehicle that most Canadians want to drive, they're expensive vehicles in this market,' he said. The target that all new light-duty vehicles sold be zero-emissions by 2035 was initially set by former prime minister Justin Trudeau's government. But Ney said based on the survey results, it is unlikely Canada could reach that goal in the next decade. 'EVs will continue to be a part of ... the mobility solution for Canadians and I think that they'll slowly grow in terms of market share,' he said in a phone interview. 'It certainly may not be as quickly as, you know, a federal government mandate would like, but I think they're going to remain a part of the conversation for quite some time.' Canadian interest in EVs is much lower than in the United States, where 59 per cent of those surveyed said they are either 'very likely' or 'somewhat likely' to purchase an electric vehicle. The federal government paused an incentive program in January that offered Canadians rebates of up to $5,000 when buying or leasing electric vehicles, a move that Ney said was 'certainly not going to help EV adoption.' J.D. Power's online survey of nearly 4,000 potential new vehicle buyers found that program pause had a negative effect on 42 per cent of those who were likely to consider getting an EV. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. The survey also found that Canadian car buyers' most-considered EV brands have changed. Tesla, owned by tech billionaire Elon Musk, dropped from second to eighth place among most-considered EV brands in Canada, with Hyundai, Kia, Toyota, Ford and Chevrolet now occupying the top five spots. This report by The Canadian Press was first published May 29, 2025.
Winnipeg Free Press
2 days ago
- Automotive
- Winnipeg Free Press
Car shoppers pessimistic about Canada's zero-emissions vehicle sales target: survey
A new survey has found that the majority of car buyers don't think the Canadian government can achieve its target of 100 per cent zero-emission vehicle sales by 2035, as interest in electric vehicle purchases remains largely unchanged from last year. The survey from consumer insights firm J.D. Power found that 75 per cent of new-vehicle shoppers are not confident the 2035 target will be reached. The survey also found that 28 per cent of respondents are 'very likely' or 'somewhat likely' to consider an EV for their next vehicle purchase, down from 29 per cent last year and 34 per cent in 2023. Canadian interest in EVs is much lower than in the United States, where 59 per cent of those surveyed said they are either 'very likely' or 'somewhat likely' to purchase an electric vehicle. The federal government paused an incentive program in January that offered Canadians rebates of up to $5,000 when buying or leasing electric vehicles. The online survey of nearly 4,000 potential new vehicle buyers found that pause had a negative effect on 42 per cent of those who were likely to consider getting an EV. Monday Mornings The latest local business news and a lookahead to the coming week. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. This report by The Canadian Press was first published May 29, 2025.
Yahoo
2 days ago
- Automotive
- Yahoo
Car shoppers pessimistic about Canada's zero-emissions vehicle sales target: survey
A new survey has found that the majority of car buyers don't think the Canadian government can achieve its target of 100 per cent zero-emission vehicle sales by 2035, as interest in electric vehicle purchases remains largely unchanged from last year. The survey from consumer insights firm J.D. Power found that 75 per cent of new-vehicle shoppers are not confident the 2035 target will be reached. The survey also found that 28 per cent of respondents are 'very likely' or 'somewhat likely' to consider an EV for their next vehicle purchase, down from 29 per cent last year and 34 per cent in 2023. Canadian interest in EVs is much lower than in the United States, where 59 per cent of those surveyed said they are either 'very likely' or 'somewhat likely' to purchase an electric vehicle. The federal government paused an incentive program in January that offered Canadians rebates of up to $5,000 when buying or leasing electric vehicles. The online survey of nearly 4,000 potential new vehicle buyers found that pause had a negative effect on 42 per cent of those who were likely to consider getting an EV. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. This report by The Canadian Press was first published May 29, 2025. The Canadian Press
Business Wire
2 days ago
- Automotive
- Business Wire
Electric Vehicle App Engagement Reaches New Highs but Brands Face Pressure to Improve Speed and Reliability, J.D. Power Finds
BUSINESS WIRE)--As the electric vehicle (EV) market matures, companion mobile apps have become a critical part of the ownership experience. From unlocking the vehicle to remotely managing charging and climate, EV apps now serve as an extension of the vehicle itself. According to the J.D. Power 2025 U.S. OEM EV App Report SM released today, EV app usage continues to climb, though satisfaction is still held back by connectivity issues, remote command speed and inconsistent feature performance. These usability gaps contrast sharply with rising expectations, as more EV owners are expecting quick and integrated app functionality each time they drive. 'EV owners are telling J.D. Power exactly what they need: reliable performance and connectivity to interact with their vehicles,' said Violet Allmandinger, mobile apps lead at J.D. Power. 'Top-performing apps deliver fast, consistent remote controls and have desired features. However, most other apps are still closing that gap.' Following are some key findings from the 2025 report: EV app usage rising: Nearly one-third (32%) of non-Tesla users now use their app on every drive (up from 17% in 2024), while Tesla users are at 79%, up from 69% a year ago. This reflects the growing reliance on apps for routine EV functions such as charge monitoring, pre-conditioning and route planning. However, satisfaction still lags due to slow connections and inconsistent performance. Distinct advantage in speed: Nearly half (46%) of EV app users say 3-5 seconds is the longest acceptable delay for remote commands, while 40% of Tesla users expect responses in just 1-2 seconds. App speed remains the top driver of satisfaction. Tesla users place higher value on app speed (8.3 on a 10-point scale) than non-Tesla users (7.4) and are more satisfied (7.9) than non-Tesla users (5.5). The small gap between expectation and satisfaction suggests that Tesla has a competitive edge in delivering on customers' needs. Connectivity issues remain top frustration: Although connectivity has improved slightly, 37% of non-Tesla EV app users still have issues with losing connection or delayed updates, down from 40% in 2024. Tesla, on the other hand, has made significant improvement by reducing connectivity complaints to 19% from 35% year over year. This reinforces the importance of frequent app updates to address issues and transparent communication to customers. Strong interest in EV features, yet low engagement among app users: While more than 70% of EV app users say they want features like charge scheduling, trip planning with charging stops and in-app payment for public charging, many non-Tesla users do not use these features. In fact, 43% of non-Tesla users have never tried to schedule a charge; 44% have never used the app to plan trips; and 54% have never attempted to pay for charging through the manufacturer's app. This gap suggests a lack of feature availability or limited awareness, both of which represent missed opportunities to improve satisfaction. Feature desirability continues to evolve: Several advanced features have seen year-over-year increases in desirability. Interest in adjusting driver profiles—such as enabling valet or guest mode—has risen 6.3 percentage points, the largest gain. Other features with rising interest include remote window control (+3.7 percentage points); smartphone key access (+2.2 percentage points); and viewing vehicle cameras or security alerts (+1.7 percentage points). Core features like vehicle status, over-the-air updates and diagnostics/vehicle health checks continue to be desired by more than 90% of EV app users. Report Rankings Tesla (864) ranks highest overall and among premium manufacturer EV vehicle mobile apps. Mercedes-Benz (839) ranks second and My BMW (833) ranks third. MyHyundai with Bluelink ranks highest among mass market manufacturer EV mobile apps with a score of 820 (on a 1,000-point scale). Kia Access (808) ranks second and MINI (797) ranks third. See the rank chart for each segment at The U.S. OEM EV App Report, now in its fifth year, gauges EV owners' experience with their brand's mobile app. Insights are derived from surveying EV owners and an assessment of the most relevant EV mobile apps. Results are based on a standardized assessment approach relying on more than 350 best practices for vehicle apps that include more than 70 EV-specific attributes. The report includes apps from the top 28 award-eligible brands that sell EVs in the United States; 10 profiled EV brands in China; and eight profiled EV brands in Europe. Brands from China and Europe are included in this report given their expanding presence in the EV marketplace. Additionally, 1,966 EV owners in the United States were surveyed in March-April 2025 to gather insights on app usage; feature desirability; and app overall execution for the 2025 report. For more information about the U.S. OEM EV App Report, visit About J.D. Power J.D. Power is a global leader in automotive data and analytics, and provides industry intelligence, consumer insights and advisory solutions to the automotive industry and selected non-automotive industries. J.D. Power leverages its extensive proprietary datasets and software capabilities combined with advanced analytics and artificial intelligence tools to help its clients optimize business performance. J.D. Power was founded in 1968 and has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit The J.D. Power auto-shopping tool can be found at
