Optimising sales effectiveness: How to gather more assets in wealth management

10 November 2022

AssetCultureDataMindful OfRelationshipsWealth managementWealthTech Matters

Expert: Alessandro Tonchia Facilitator: Munaz Khan


Potential significant pain points for each company, include:

  • Culture shifts
  • Tracking potential client leads through effective communication
  • Long CRM migration implementation times
  • Speed of change/change fatigue, ensuring the value proposition is delivered to market at the right speed, incorporating the people, e.g. the culture change in the organisation
  • Private client lead generation, understanding how to use technology to improve our lead generation. Wealth management has an ageing client base, so must hit the right notes with specific generations
  • How to get better data and understand the marketing aspects of engagement


The main discussion in the room was how to make relationship management more efficient. One solution was regarding employee characteristics around selling (as there is a correlation between sales and strong client relationships). More specifically, identifying who is selling and not, then comparing said individual's skills/qualities.

There was also a key emphasis around the room on how quickly prospects are moving through the pipeline. The room indicated that a robust CRM system promotes seamless end-to-end prospect pipeline efficiency, resulting in an efficient relationship management process.

It was statistically highlighted that 25% of an adviser's time is looking for new prospects/looking for engagement and retention. Key factors that can enable efficient use of lead generation (i.e. managing/ creating prospects) were discussed. Firstly, stressing the best point to address the client is precisely at a liquidity event, finding ways to enter the discussion before the completeness of the transaction creates sales opportunities.

Another successful use of leads/prospects is through internal referral, allowing capitalisation on what would be unknown employee/client relationships. Leads may be made at events, gaining a name. We then need to qualify that lead. Is the information useful?

The sooner you can profile the client, the better risk minimisation and efficiency. After the initial meeting, individuals find a prospect portal very successful where relationship managers and other stakeholders can all interact to share content with clients—leading to reduced email volume. The portal minimises clients leaving, finds interest preferences and compliance—conclusively creating accessibility to client history.

Key takeaways:

  • The effectiveness of AI as well as its different applicable uses such as filtering, selecting, managing and storing client data
  • Using AI to filter compliant clients and find out who has the highest compatibility by looking at previous investment history
  • AI an also be seen as a trade-off between central investment and compliance policies
  • The room emphasised that AI needs to be applied in the proper context and aligned with the company's risk profile, resulting in better insights to promote client relationships