Gartner Research

Improve Three Areas to Support Digital Business Transformation in Wealth Management

Published: 18 April 2019

ID: G00432168

Analyst(s): Financial Services Business Leader Research Team

Summary

In digital business transformation, wealth firms lag behind other lines of business in financial services. To drive acceptance and scaling of digital platforms, wealth management leaders need to focus on advisor-supporting technology, client-facing tools, and data and workflow initiatives.

Table Of Contents

Introduction

Digital Optimization Versus Digital Business Transformation

Analysis

Integrate Advisor-Supporting Technologies Into Digital Platforms to Accelerate Advisor Adoption

Garner Advisor Support by Demonstrating Immediate Value

Integrate the Desktops of Today With the Enhanced Desktops of the Future

Table 1. Existing Advisor-Supporting Tools to Integrate Into Digital Platforms

Table 2. Evolving Advisor-Supporting Tools to Integrate Into Digital Platforms

Enhance the Collaboration Experience in Client-Facing Technology to Improve Digital Empathy

Look to Digital Tools That Enhance Collaboration

Table 3. Existing Client-Facing Tools to Integrate Into Digital Platforms

Table 4. Evolving Client-Facing Tools to Integrate Into Digital Platforms

Develop a Data Architecture by Focusing on Internal Roadblocks That Impede Digital Transformation

Focus on Data Issues Presenting the Most Frequent Painful Roadblocks in the Advisor-Client Relationship

Table 5. Existing Data and Workflow Issues to Integrate Into Digital Platforms

Table 6. Emerging Data and Workflow Integration Needs

Conclusion

Recommended by the Authors

About This Research

Endnotes

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