TROY, Mich. — Despite growing investments by banks in personalized financial advice and support tools, many institutions are still struggling to convert customer awareness into meaningful engagement, according to a new study released by J.D. Power.
The 2026 U.S. Financial Health Support and Advice Study found that while 47% of customers recalled receiving some form of financial advice from their bank or credit card provider, sustained engagement with those tools remains inconsistent. At the same time, the study found a widening divide in consumer financial well-being, with 38% of customers categorized as financially healthy and 40% considered financially vulnerable.
Jennifer White, managing director of financial services intelligence at J.D. Power, said awareness of financial wellness tools is increasing, but adoption continues to lag.
‘More Promise Than Reality’
“Personalization is still more promise than reality,” White said in a statement accompanying the report. “Overall awareness of existing banking and credit card support tools is growing, but that growth is not translating into sustained engagement.”
White said financial institutions have an opportunity to strengthen customer relationships during a challenging economic environment, but doing so will require more consistent engagement rather than isolated interactions.
Consumers Focused on Short-Term Financial Guidance
According to the study, consumers are primarily seeking practical, near-term financial guidance rather than long-term planning assistance. The most requested forms of advice included:
- Quick tips and information to improve financial situations (26%)
- Saving for emergencies (25%)
- Budgeting assistance and tips to stay on budget (23%)
The study also found most consumers prefer to receive guidance through marketing communications or directly from banking representatives. However, traditional channels may be facing growing competition from artificial intelligence tools, as 53% of customers said they had turned to AI for financial advice during the past three months.
Awareness and Engagement Gaps Persist
J.D. Power said more than half of customers face barriers to engaging with financial support resources, largely because of low awareness and limited confidence in their own financial literacy. Fewer than one in six bank and credit card customers said they were aware when new financial advice resources became available.
At the same time, 43% of bank customers and 45% of credit card customers reported facing no barriers to engagement, suggesting many consumers may not recognize gaps in their own financial knowledge or behavior, according to the study.
Personalization Strongly Linked to Satisfaction
The study found relatively few customers believe their financial institution consistently personalizes communications and recommendations. Just 20% of bank customers and 16% of credit card customers said their provider always personalizes information they receive.
However, when institutions effectively personalize interactions, customer satisfaction scores increase sharply, rising 238 points among bank customers and 219 points among credit card customers, according to J.D. Power.
White said the most successful institutions are tailoring communications around spending habits, account balances and major life events, rather than simply referencing products customers already use.
Top-Ranked Institutions
The study identified the highest-ranked financial institutions in several categories:
Retail Banking Advice
- Bank of America ranked highest for a second consecutive year with a score of 643.
- Citibank ranked second with 631.
- Capital One and Wells Fargo tied for third with scores of 629.
Banking Health Support
- Capital One ranked highest with a score of 621.
- JPMorgan Chase ranked second with 607.
- Bank of America ranked third with 596.
Credit Card Health Support
- American Express ranked highest with a score of 641.
- Bank of America ranked second with 606.
- PNC Financial Services ranked third with 597.
About the Study
The study measured customer satisfaction with banking and credit card health support services and retail banking advice. It included responses from 29,855 banking customers and 23,941 credit card customers who maintain primary relationships with qualifying financial institutions. Among banking customers, 12,350 respondents who had received financial advice during the previous 12 months were included in the retail banking advice segment.
The study was fielded from March 2025 through March 2026, with the banking and credit card health support indexes based on data collected between September 2025 and March 2026.
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