The application of technology to the Wealth Management industry is a complex one. A world in which personal service and trust are highly valued could seem at odds with technical disruption and automation. With this juxtaposition, it’s easy to see why conquering the single customer view or adopting a mobile- rst approach presents a serious challenge for many organisations. Currently, the technological advancements occurring in other areas of retail financial services appear some way off in wealth management.
While it may seem like there is no immediate need to offer a digital service to clients, there are new and innovative companies emerging with increasing frequency in the savings and investment industry – some that we discuss in this report. It’s only a matter of time until that filters through to different and more traditional areas of wealth management, which will be championed by customer expectation.
To remain at the leading edge in the future, embracing rapidly evolving technology is essential for today’s successful wealth management firms, who wish to meet the needs of tomorrow’s digitally-enabled clients.