Wealth management companies are among 50% of firms in the financial services sector that have failed to create mobile friendly websites and pass a basic Google test.
That was the conclusion of a major study by Altus Consulting, a specialist provider of consultancy services.
Altus cited data from StatCounter Global Stats showing that the number of hits to websites from mobile devices has increased from 5% in 2010 to 25% by the end of 2014.
Conversely, accessing websites from computers has dropped by 24%, highlighting the growing need for mobile to be at the core of every financial service organisations digital strategy, according to Bath-based Altus.
The survey revealed that over 50% of financial service providers failed the most basic Google Mobile-Friendly Test.
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It also showed that 42% of the companies that failed already have a mobile application on the market and are not new to interacting on this platform.
Banks, wealth managers and insurers were all assessed.
Richard Phillips, consultant at Altus Consulting, said: "It is worrying that so many providers haven't prioritised mobile within their digital strategy. In an increasingly competitive marketplace an effective mobile strategy has to have a mobile optimised web site at its core.
"For many customers the first experience of your company is going to be your web site viewed on a phone or a tablet – this experience has to be a positive one.
"Recent advances mean that it is now possible to deliver functionality that was previously the preserve of apps from a mobile optimised web at a fraction of the cost.
"There will always be a need for apps to be built but companies need to remember that developing an app can be a costly exercise. Not only do you have the problem of having to develop for different platforms - iOS, Android, Windows and potentially others but also you have the maintenance required every time one of these platforms releases a new version."
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