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Digitalization of wealth management

Are you holding your own in the digital race? 68% of wealth managers say keeping up with new technology is a top challenge – tied with growing their clients’ portfolios.

Our take on the digitalization of wealth management in 60 seconds

68% of wealth management advisers say their biggest challenge is learning about – and keeping up with – new technology. They see getting ahead of the game as fundamental for growing their clients’ portfolios.

But while digitalization, automation, predictive, and personalized services present challenges, they also bring big opportunities. Technology and data are helping advisers to better connect with their clients, as their wealth management firms are building self-serve portals that offer faster, better access and improve client experience through enhanced on-boarding and reporting.

At the same time, more advanced adviser firms are turning to AI and machine learning techniques to spot previously unseen growth opportunities for their clients.

Advisers believe that artificial intelligence, advanced analytics, and automation will have the greatest impact on the wealth management industry over the next 3 years.

Key takeaways

Here are the essentials

Think beyond ‘millennials’

It’s not just younger investors driving digital transformation. All generations now expect a digital first service.

Focus on customer experience

From discovery and on-boarding to self-serve investments, digital solutions can transform your entire customer journey.

Make the most of the automation opportunity

Accurate machine learning and effective AI depends on quality data. We'll deliver it to you.

Expert opinion

The view from our experts

The pace of digital evolution is quickening. To stay competitive and meet new client expectations, successful wealth managers must develop digital strategies to help reduce their cost burden, to increase adviser-efficiency and to better engage with their customers – whatever their starting point on the digital journey.