26 June 2019

Wealth managers: do you fit in your clients’ digital life?

By Bjorn Widerstedt

Digital experiences have transformed nearly every aspect of our personal and professional lives. Elegant consumer applications keep pushing the envelope in terms of how we access and act on information. This “personal tech evolution” has quickly transferred to our professional expectations – and in many cases information and communication needs converge in our financial lives.

Fully featured mobile banking and investment apps used to be a nice to have, now they are table stakes wherever you look. Advisors need to reflect a high touch digital experience that’s aligned with their identity and value proposition. Adding in more personalization, real insights and coaching, and easy communication tools all help elevate the experience.

In a recent ThinkAdvisor article, our Senior Vice President for the advisory segment, Steve Leivent, explored the implications of this trend within wealth management. As he discussed, advisors face competitive and fee pressure from tech-powered start-ups, plus an increasingly complex regulatory environment that demands best practices in record-keeping and reporting.

Then there’s the matter of generational continuity, with an emerging investor class that “may never have experienced life without the speed and convenience of today’s technology. These digital ‘natives’ are used to personalized advice on demand and tend to prefer to engage on their mobile devices.” 

All these converging forces are compelling advisors to “up their game” technologically. To see the many ways in which a cloud-based technology hub can elevate an advisory business, check out the full article.