IMPACT OF TECHNOLOGY ON CUSTOMER EXPEREINCE

For another client, investing in technology to enhance the customer experience meant increasing its Assets Under Management (AUM) by 25% due to new client growth, along with share of wallet and referrals. Front office productivity also boomed, with advisers managing some 20% more clients than previously due to efficiency gains.

For wealth managers, the next few years need to be about the evolution to a client-led enterprise. Firms must overcome cultural and adviser inertia to prepare for a new generation of clients while not abandoning their core constituency. According to several market studies, in fact, digital-first applies to all segments of clients. Regardless of AUM, they will ask to pick and choose different modules of advice, products, and services to create their own personalised experience.

So, the client-led enterprise has to be enabled by technology. Digital solutions will form the base layer to cater to more traditional, higher wealth clients, who increasingly expect enhanced digital experiences along with traditional human-led bespoke service offerings, along with a digital-native younger generation of clients inheriting wealth.

HASSAN SUFFYAN MANAGING DIRECTOR UK & IRELAND OBJECTWAY WWW.OBJECTWAY.COM