Studies

In 2017, PMG reported on its first iteration of the Client Journey Impact Study: an in-depth examination into brand/channel preference as well as product, advice, and digital engagement behaviours. That study delivered on two foundational areas of research: market life stage segmentation and PMG’s Gamma Analysis. This unique analysis provides the framework to understand the factors that have the greatest impact on producing healthy financial outcomes for investors across each life stage segment.

It has become increasingly important for wealth managers to understand what women want in their relationship with their financial advisor, the financial companies with which they engage, and how to attract and retain female customers. To help the industry better understand this key market segment, in 2017, PMG executed Women and Investing – a research engagement which provides insights into how female and male investors differ in their approach to finances and their experiences with the industry.

In our 2016 benchmark study, PMG’s segmentation research explored the impact of robo-advice across life stage and wealth segments. To track investor attitudes toward the robo-advice self-serve model and digital services, we continued our research with the 2018 Robo-Advice Impact Assessment.  The primary purpose of this study was to continue our examination into the attitudes Canadians have toward the robo-advisor model and measure the impact these types of digital solutions have on the traditional advice proposition.

The 2017 Energy Conservation Impact Study provides a benchmark of Canadians’ perceptions and behaviours as it relates to energy and establishes a profile of residential energy users’ perceptions in terms of the importance of energy, energy issues, and energy conservation across Canada. The study provides important insights to help inform and enhance effective approaches to engage residential energy users to increase participation rates in energy conservation programs.

This study uncovers what actions financial services providers can take that will drive Millennials to place new business with that provider or increase their existing share of wallet. The results of this study will help financial firms crystallize expected ROIs on marketing campaigns, new products, changes to existing products, etc. and inform senior management on strategic decisions for growing their share of the Millennial market.

In 2017, PMG conducted its first Carbon Monoxide: Benchmarking Canadian Attitudes and Behaviours study. This study provided critical insights into this leading cause of accidental poisoning in Canada. It established a benchmark of Canadian homeowners’ and tenants’ views, knowledge, and perceptions of the risks related to carbon monoxide (CO). To continue tracking Canadians’ behaviours and knowledge, PMG followed up this research with the 2018 Carbon Monoxide: Canadian Attitudes and Behaviours study.

In 2013, PMG Intelligence reported on a benchmark examination of Plan Sponsors, Plan Members, and Group Benefits Advisors. This research examined the key issues surrounding the impact of costs, employers’ processes of managing their plans, and, more specifically, identifying the tipping points that will drive a change in how they engage in plan design. The 2017 study provides insights into how behaviours and attitudes have changed within the segments since 2013 and builds upon previous learnings to arm subscribers with the knowledge of what is required to have a meaningful impact on cost in this space today.

To help better understand the impact that type 2 diabetes has on Canadians in the workplace, in 2015 PMG conducted a quantitative study of the Canadian market to examine the effects of working with the disease and the relative outcomes it has the on the employee-employer relationship.  To further our understanding from the benchmark in 2015, the 2017 initiative provides insights into the current impact of type 2 diabetes in the workplace and how it has changed over time, particularly as it relates to lost productivity and performance and the positive impact of medication adherence in mitigating these issues.

As observed in our national investor research, recent changes implemented by the Canadians Securities Administrators have had a substantial impact on how advisors develop new business and their strategies to retain existing relationships.  With this, there is significant variance in the degree to which advisors felt prepared in terms of dealing with the implementation of CRM II. In 2015 PMG conducted a follow-up to the 2014 Advisor Perspective benchmark study. The study aimed to help financial organizations understand and most effectively plan for a number of the changes relating to CRM II and, in turn gain, a deeper understanding of how advice is delivered through advisors to their clients.