Published: 18 April 2019
Analyst(s): Financial Services Business Leader Research Team
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.
Digital Optimization Versus Digital Business Transformation
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
Recommended by the Authors
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