Informed Decisions – The platforms and services making the biggest impact on wealth managers

14 November 2023

AIDataMindful OfPlatform providersRegulationWealth managementWealthTech Matters

Expert: Christian Jedlicka, CSO, Etops Group Facilitator: Gregor Mueller, Independent Consultant


This session covered the role that AI, in its various guises, can play in supporting relationship managers and advisers in wealth management.


Key points included the need to leverage technology like AI, Machine Learning, and Generative AI to support relationship managers, rather than fully replace them. Quick wins for digital innovation include automated meeting summaries or sales intelligence, as both have the potential to deliver significant value without high risk or cost.

There was also emphasis on using data and analytics to better understand clients’ needs, preferences, and behaviours, and tailor investment services and recommendations accordingly.

The generational shift was noted too, with younger clients wanting more digital access and less human interaction, while older clients still prefer personal relationships with a human touch. However, human expertise was still seen as essential for complex needs like private markets investing. And regulatory burdens, like KYC, were cited as a hindrance to digitisation efforts.

Overall, there was agreement on the need to digitally transform; innovations like AI, mobile apps, and new client onboarding processes all need attention. To progress, firms must bring together both the IT and business sides of the house to develop innovative solutions that balance cutting-edge technology with client need.

Key findings:

  • Technology like AI, Machine Learning, and Generative AI can be usefully employed to support relationship managers, but will never fully replace them
  • Good data management and analytics capabilities make for a better understanding of client needs, preferences, and behaviours
  • A generational shift in service expectations means that more digital access is now a must have. But human expertise is still seen as essential for complex needs like private markets investing
  • Complex regulations make life harder when it comes to digitisation