Outsourcing: a means to a digital end
31 March 2020 – Outsourcing trends have been analysed across a number of wealth management reports over the last 12 months or so.
Wealth managers clearly have much to gain from outsourcing non-core functions; however, regulatory concerns suggest that – in some cases, at least – the process needs to be handled with greater care and attention.
The Compeer/Objectway report, The Wealth Management Firm of 2025, found that the majority of large firms would outsource their back office functions if they were starting again, but faced considerable challenges in replacing existing systems, including technology costs and HR issues arising from making large numbers of people redundant.
