Over the past few years, Corporate Insight has received several requests to evaluate the online educational capabilities of retail financial services firms. As a result, we’ve conducted a number of custom research studies on the subject. This year, we even added an entire category to the Brokerage Website Audit devoted to Investor Education to reflect the increasing importance of good education as a competitive differentiator.

One key theme that’s emerged in our research is that content, while important, is only one piece of the puzzle when it comes to effective online education. The format and delivery of this material is also critical and sets leaders apart from laggards. While many firms we track offer a library of educational articles, these pieces rarely build off of each other like a true defined curriculum, nor do they engage readers through interactive features like quizzes or videos to reinforce learning. As a result, consumers don’t spend much time using this educational content - its dry, static nature doesn’t invite repeat visits. 

Fortunately, several leading firms seem to have recognized this problem and have overhauled their educational resources in the past year. Their timing couldn’t be better. Trust in the financial services industry is at an all-time low today, which means that institutions must go out of their way to prove that they have their customers’ best interests at heart. Offering innovative and helpful educational content is one of the best ways that firms can do that.

With this in mind, Corporate Insight will release a new study next month, “Consumer Financial Education Today: Best Practices.” This report will assess educational content across each of the industry segments we cover, including annuity issuers, banks, brokerage firms, credit card issuers, mutual fund companies and (for the first time) retirement plan providers. We will highlight the most innovative and effective educational material offered by several firms and identify key industry trends. The report also includes a review of educational materials offered by leading third-party vendors, as well as a section that takes a deep dive into several key educational issues, such as teaching consumers about credit and retirement planning.

To learn more about Consumer Financial Education Today: Best Practices,please contact Jaclyn Silverberg by email at jsilverberg@corporateinsight.com or by phone at 212-832-2002 x.127.