Wealth management firms are keen to increase investments in technology and digital services, but they must be tailored to customers’ needs. Hence, switching to digital self-services will allow to handle costs in a more efficient and scalable way. Top priorities for investment managers remain support client retention and lower the friction in the onboarding process, reducing administrative burden and achieving top line sustainable growth.
The report highlights that the main firms’ concern is that if technology investments do not improve, there will be a mismatch with the expectations of the next two generation of clients.
