Not Vanguard, Not Fidelity: JD Power Says This Retirement Plan's Digital Experience Leads In Customer Satisfaction

When it comes to planning for retirement, more and more retirees (and even soon-to-be retirees) are leaning towards digital platforms and planning apps to help them prepare and stay organized. While going as far as investing in crypto might not be the right call, allowing technology to help your finances in other ways can be a smart decision. In fact 71% of respondents over the age of 50 reported using some form of online financial technology, as of June 2023, according to AARP – which can make it particularly important to know the best and worst retirement apps out there. However, the adoption of these online financial services can still be a tough sell for many older Americans – with concerns like security taking front stage. In fact, according to the JD Power 2025 U.S. Retirement Plan Digital Experience Study, a whopping 62% of users reported that the security of a retirement planning website or app was actually more important than the convenience of that website or app.

With this in mind, Bank of America (including Merrill) ranked highest in JD Power's scoring of retirement plan digital satisfaction. Scoring 747 on a 1,000 point scale, the next closest retirement plan was Vanguard with 717 points. For comparison, the average score was 690 and the lowest scoring plan for digital satisfaction, among those included in JD Power's ranking, was Paychex with 644.

When considering the best investment opportunities as a retiree, the usability of a financial app might not be front of mind. However, knowing the benefits, and limitations, of these tools can be especially important when considering what you might want to use and how much you might actually like your choice. In JD Power's report, Kapil Vora, senior director of wealth intelligence at JD Power, explained, "Importantly, when account security falls short, satisfaction plummets. Ease of navigation and a seamless experience still matter, but demand for strong data security is rising, even if it requires a longer log-in process." With this in mind, even the top ranked digital plans in JD Power's report left something to be desired for many users.

Perhaps most notably, 45% of respondents reported that their digital experience -– across both retirement planning websites and mobile apps –- was not well integrated across channels. A lack of consistency with the aesthetics, as well as issues with the flow of information, were among the called-out issues. Meanwhile another 61% reported that their digital retirement plans lacked proactive guidance and support. With these things in mind, it's important to realize that you might not get everything you want out of a single retirement website or app –- but it still doesn't hurt to shop around for the one that works best for your individual preferences.