How technology influences asset and wealth management

Future growth in assets under management (AUM) seems to be closely linked to digital strategy, as new generations of investors adopt different ways of investing. This calls for a rethink of which strategies can best capture the next generation of customers and compete against players who offer new investment platforms based on advanced robo-technology. Digital distribution is therefore expected to disrupt the traditional distribution landscape.
technology-influences

What does it mean for advisors today?

The next few years will be challenging for CEOs of wealth management companies. The top challenges include starting the digital transformation journey, which has an influence on:

  • The Grow of AUM
  • Cost Management
  • Regulatory Changes Navigating
  • Adapting to disruptive innovations in the business environment
  • Enhancement of customer satisfaction and engagement

Automated advisory platform allows firms and advisors to be significantly more cost-efficient in their advice delivery and execution, helping maintain profits even if the fee income declines. These platforms also allow to scale up operations and serve more clients of every size and type.

Technology aids transparency and trust. When all operations are running through the automated advisory platform, it is easy to report to the client exactly what is happening, and why. Similarly, periodic reporting—quarterly, yearly or as often as the client wants—can be easily automated as well. The best automated platforms will record each interaction, as well as any client feedback, both for regulatory purposes and to enhance future interactions.
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