JAN 11, 2022

A new Hope for Wealth & Investment Managers?

David Wilson

Senior Business Development Manager

Reading time: 2 min


Given the great returns you have achieved in the last few years, for the most of you, you may ask yourself: why do I need new hope?

Well, as always, in business the better you do, the more you have to do next year. You are only as good as your last year!
The pressure to achieve growth is constant.
Therefore, the greatest challenge to our wealth management industry to continue this level of growth is how to scale the business and replicate the success model without incurring a burdensome level of additional cost.
How to take a small firm to the next level, going from £1bn AUM to £10bn AUM or, for a larger firm with lots of Advisors, how to transition into a Tier 1 business with tens of billions of AUM and with a prestigious reputation for serving all types of investors from young to old and across all channels.
You, as advisors and investment managers, can only manage so many clients and can only take on a finite number of new clients every year.

Whatever your size of firm, you can manage only so many portfolios or clients effectively and that will ultimately limit your ability to grow the business.
Providing an environment that helps your people to be more efficient and leading them down the “effective path” to achieving better returns for more investors is a challenge.
Getting advisors to jump ship and join you can take time, finding new advisors also takes time and its process is unpredictable.

But what about technology?

There have been huge advances in recent years that most would not believe could assist their business to grow.
It is not just about how can I get technology to do what I do today, but better. It is also about: how can technology change the way I do things and make me a game changer?
The answer should not be headcount. Technology can take care of the repetitive or mundane tasks, can reduce the burden of time-consuming daily activities and if you are open to it, can help you manage predictable growth.

If you are interested in the topic, read our paper “NEW HOPE FOR GROWING YOUR WEALTH MANAGEMENT BUSINESS” available on our website