Wealth managers are turning their attention to the client experience. Wealth managers looking to attract and retain clients need to create differentiated services and exceed consumers’ ever-rising expectations. In many cases, however, their technology strategy appears misaligned with this overarching goal.
Currently, tools that directly address the client experience, such as client attraction/retention tools and workflow automation technology that can be integrated with client portals to make firms more efficient.
Financial planning and portfolio management have been the focus on many firms’ technology strategies for some time. Areas such as digital workflow automation and client attraction/retention tools are tied to firms’ evolving business focus. But only innovators seem to be prioritizing these sorts of tools over the next year.