Winning in Wealth Management: Top Firms are Focused on Client Engagement

February 9, 2016 Mary Grace Glascott

Wealth Client Engagement

While we have our own predictions for the financial technology world, we think it is important to understand what industry leaders like Aite Group, a leading financial research firm, are observing. Client engagement was a dominant theme in Aite Group's Wealth Management Top 10 Trends for 20161, with the following trends focused on the necessity for a client-centric strategy driven by innovative technology, particularly in the digital space.

Aite prediction: Global wealth managers continue to reshape 

As wealth management firms reshuffle their global footprints, the effects of these strategic moves will become apparent and investments in areas such as branding, marketing, and greater focus on new technology, will deliver greater impact.

Our take: Decisions on where to invest will be based increasingly on who delivers the best experience over which retail location is nearby -- therefore, a firm’s digital presence is more critical than ever.

Aite prediction: Traditional firms’ digital advice strategies proliferate

Incumbent wealth management firms will launch new digital wealth management capabilities globally. A majority will deploy digital capabilities, not pure robo-advice platforms.

Our take: Technology that explains investment performance, not necessarily that executes investment decisions, will be on the rise, as clients’ desire for understanding and transparency increases.

Aite prediction: Independent wealth managers gear up to get tech 

Regulatory demand, client expectations, and better technology will further pressure independent advisors to embrace technology.

Our take: To remain relevant, advisors need to keep up with the times. This means the ability to communicate with clients wherever they are, on their terms.

As firms revitalize their digital presence to better engage with clients and differentiate from the competition, they are searching for a distinguishing capability to set them apart. Leading firms are turning to advanced natural language generation (Advanced NLG) as that differentiator, providing the ability to automate personalization at scale.

Quill Portfolio Review enables the communication of investment performance via the most engaging way possible, a personalized narrative. With automated, data-driven narratives integrated into client-facing portals, investors have access to easy-to-understand, custom communication regarding how their investments are performing, the drivers impacting that performance, and recommendations on how to achieve their goals.


1 Taken from Aite's "Top 10 Trends in Wealth Management, 2015: A Digital Engagement, Alois Pirker
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