Two out of three Canadian financial advisors say that the quality of an asset manager’s Web site affects whether or not they will choose to do business with that firm, according to a survey of more than 380 advisors released yesterday by kasina, a leading U.S.-based financial services consulting firm, and Vancouver-based Credo Consulting.

Among the features most important to the advisors were “Client Account Access” (72% of those surveyed), “Market Commentaries” (56%), and “Pricing and Performance Information” (54%). At the other end of the spectrum, fewer than half those queried indicated they go to a manager’s web site looking for sales tips.

Respondents indicated they spend an average of 14 hours a week online, including four hours researching mutual funds. Smaller advisors were more likely to be attracted to a firm by its Web site, according to the survey, with 77% of those in the $10 million in assets under management (AUM) and under category indicating this preference, compared to just 47% of those advisors with $30 million or more in AUM.

Credo and kasina also evaluated the Web sites of 24 leading Canadian asset managers, basing the analysis on the performance of the sites in five broad categories: branding, content, online services, usability, and Web technology.

The following were named as providing the top advisor websites (listed alphabetically):

  • AGF Funds (www.agfadvisor.com);
  • AIM Trimark (www.advisor.aimtrimark.com);
  • Fidelity Canada (www.fidelity.ca);
  • Franklin Templeton (www.franklintempleton.ca); and
  • Talvest Mutual Funds (www.talvest.com).

“The advisor channel is increasingly important to the success of asset management firms. The firms that will succeed in leveraging the Web to grow their advisor business are those that are committed to providing a high level of online service as well as access to materials, account information, and support,” says Malachi Black , senior Business Analyst at kasina. “The five firms we have identified in our survey all rate high in those areas.”

The survey also identified a number of areas for improvement.

For example, just 35% of the firms surveyed currently provide email subscription services, and only one in five facilitates online fund exchanges and transfers.

kasina’s client list includes 18 of the 20 largest asset managers in the United States and leading firms in Canada , France , Germany , and the United Kingdom.

Credo Consulting’s clients include Canada’s leading asset managers and distributors that represent 90% of the assets under management in Canada.