Attracting The Retirement Dollars Of Australian Baby Boomers

For Australia's wealth management firms, Australia's baby boomers represent a key and lucrative market thanks to their sheer numbers and the fact that they own half of the nation's total household wealth. Baby boomers love to use the Internet to manage their finances, so how good are Australia's leading wealth management firms at servicing this market online — a measure of which is how well they attract this group's retirement income dollars? Forrester used its Web Site Review methodology to review the public sites of Australia's five largest retirement income providers. The findings are appalling: Not one firm came even close to a passing score for online user experience. All sites provided an uninspiring online experience and contained major design flaws like illegible text, lack of privacy policies, and the absence of key information. If firms want to capitalize on the upcoming retirement boom, they must prioritize fixing their Web sites.