Banks must support digital tools with advisor training [Investment Executive - News]
Bank Of Montreal (BMO)
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Source: Investment Executive - News
This article appears in the October 2023 issue of Investment Executive. Subscribe to the print edition, read the digital edition or read the articles online. The Big Six are investing in digital tools for branch advisors. But advisors and planners say that if training doesn’t keep pace, those tools won’t meet their needs. As part of the 2023 Report Card on Banks, advisors were asked to rate their bank’s “general technology training & IT support,” which is a new category. The category’s debut performance average was 7.4 across the Big Six, making it one of the worst-performing categories. Its importance average was 9.0. Bank of Montreal (BMO) received the lowest rating for tech training. BMO advisors gave the technology training category a 6.4, but gave it an importance rating of 8.7, leaving a satisfaction gap (the difference between a category’s performance and importance ratings) of more than two points. “There’s very little we get in terms of training on the systems themselves
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