After each Meeting Owen James publish 'The Findings', a document that encapsulates and shares the key issues and topics discussed on the day.
Each section below summarises the different roundtable sessions and covers an array of industry driven topics.
The Findings are listed in Event date order, but don't just look for an event you attended, explore the research facility that gives you access to topics addressed at all our other Meetings – past and present.
Expert: Antony Bream, MD UK & Americas, Wealth Dynamix Facilitator: Stephen Wall, The Wealth Mosaic
17 June 2021WealthTech Matters The Adviser 17 June 2021
Artificial IntelligenceBehavioursClientClient Data ManagementClient ExperienceCommunicationCOVIDDataDigitalDigital platformDigitalisationFront OfficeManagement InformationMindful ofMobileroboTechTech futuresTechnology
Improvements in artificial intelligence and the growing use of algorithms are beginning to alter the way financial advice is delivered to end-clients. Just how far reaching digital adoption and the impact of automation will be on advisor client relationships remains to be seen, but the wealth industry must ensure they are at the forefront of digital adoption.
THE FUTURE OF REGTECH, FINTECH AND WEALTHTECH: HOW SHOULD WEALTH MANAGEMENT FIRMS BE USING THIS DISRUPTIVE TECHNOLOGY TO THEIR ADVANTAGE?
Wealth management as an industry is behind the retail banking sector when it comes to data. The opportunity exists for firms to improve internal efficiencies through the use of technology but the challenge of getting this to the top of the business priorities list is significant. It is crucial that the industry understands the benefits of disruptive technology and how to use this to drive competitive advantage.
LOGGING ON AND CHECKING YOUR MONEY IS THE ADULT EQUIVALENT OF SHAKING YOUR PIGGY BANK. HOW DO YOU CONVINCE YOUR CLIENTS TO PAY MORE ATTENTION?
Appropriate digital tools can help to build client trust and improve client engagement. Successful digital solutions need to be designed with client specific needs in mind and wealth managers must build solutions centred on these needs rather than age or demographic. Adopting the correct security measures and maintaining advisor contact are key cornerstones of digital strategy.
Back OfficeBehavioursBig DataData ScienceDigitalEngagementExperienceFintechJourneyManagement InformationMobileOnboardingOnboardingSegementationSocial MediaTrainingTrendsWealth Management and Private Banking
IN A WORLD OF COMPETING PRIORITIES HOW CAN YOU MAKE SURE YOU DON’T LEAVE IT TOO LATE TO COMMIT TO ENHANCING AND DIFFERENTIATING YOUR CUSTOMER EXPERIEN
Differentiating the client experience is crucial in ensuring that traditional wealth managers stay relevant to clients amid challenges from disruptive business models. An innovative client experience should cater for the individual needs of high-net-worth clients while still being able to complement existing business models. Utilising technology, working with suppliers and delivering bespoke client service are all challenges that the wealth industry must conquer in order to deliver unique client experience and retain loyalty.
Artificial IntelligenceBack OfficeBehavioursBig DataBrandData ScienceDigitalEngagementExperienceFintechFront OfficeHNWIJourneyMobileOnboardingOnboardingRiskSecuritySegementationSocial MediaTrainingWealth Management and Private Banking
HUMAN AND DIGITAL – THE HYBRID MODEL. A SOLUTION FOR THOSE WHO CANNOT YET AFFORD FACE TO FACE INVESTMENT ADVICE?
EY’s research leads them to believe that the hybrid model is the way forward when it comes to customer service and financial advice within the wealth management industry. The topic of discussion centred on whether the hybrid model is the future for wealth management.
Artificial IntelligenceBack OfficeBehavioursBig DataClients (type of)Data ScienceDigitalEngagementExperienceFintechFront OfficeManagement InformationMobileOnboardingOnboardingSecuritySegementationSocial MediaTrainingWealth Management and Private Banking
DIGITISING WEALTH MANAGEMENT: WHAT IS THE COMMERCIAL IMPERATIVE OF PERSONALISING YOUR CUSTOMER EXPERIENCE?
The wealth industry recognises that client demand for better digital capabilities is increasing, yet is cautious in adopting these technologies. Delegates acknowledge that suitable digital solutions can act as “enablers” and add value to the client relationship. However, for a successful transition a change of business model, as well as industry mind-set and culture, will be needed.
15 July 2018
Artificial IntelligenceBack OfficeBehavioursBig DataBrandData ScienceDigitalEngagementExperienceFintechManagement InformationMobileOnboardingSecuritySegementationSocial MediaWealth Management and Private Banking
The future of investment advice remains a subject of continued debate following the ever increasing utilisation of digital automation by financial institutions. Ultimately, firms must adopt a balanced service model, determining exactly which elements of the proposition to automate in conjunction with the human element of personal advice and overcome hurdles in terms of legacy IT systems.
Artificial IntelligenceBack OfficeBehavioursBig DataData ScienceDigitalEngagementExperienceFintechJourneyManagement InformationMobileOnboardingOnboardingReputationalSegementationTrendsWealth Management and Private Banking
Wealth managers need to prepare for privacy challenges under GDPR and be fully compliant ahead of its implementation on 25 May 2018. Firms must act now and examine their processes and systems to ensure privacy has been considered across all of their products.
The science of financial attention is the emerging discipline arising from the convergence of digital data, psychology and experimental science. As the relationship between individuals and financial institutions becomes digitised, utilising client data to revolutionise the client journey, contextualising client data and explaining factors that are pertinent to their investments is key to client engagement.
As regulatory change and technological advancement drive innovation in digital personal finance it is essential that businesses are fully prepared to capitalise on this opportunity. Building trust via the digital channel, educating your customer on what is available and ensuring you have the correct digital tools in place are paramount to success.
Artificial IntelligenceBack OfficeBack OfficeBehavioursBig DataBrandCultureData ScienceDigitalEngagementExperienceFintechFront OfficeJourneyManagement InformationMass MarketMobileOnboardingRetail Financial ServicesRiskSecuritySegementationSocial MediaTrainingTrends
Personal financial management is on the cusp of a fundamental transformation. For many years, the traditional face-to-face advisory model has provided a service to the minority of the population who can afford it. A confluence of factors including regulatory change and technological progress are now combining to enable a new means of customer engagement. With banking services slowly but surely moving towards being mobile-first, digital innovators have wealth management in their sights as an industry that is ripe for disruption. Meanwhile, a shift in pensions responsibility from the corporate to the individual and the rise of the gig economy has put retirement affordability, and more generally personal financial wellbeing firmly in the spotlight. While traditional financial advice remains unattainable for most, a suite of digital products and services are being developed to fill the gap. Disrupt or be disrupted- attempts to create new, viable business models for the digital age will flounder unless people and organisations are willing to disrupt themselves.