Advisors have been faced with rising costs as regulatory requirements and client demands have created new expectations for compliance and service in the industry. RegTech and CRM technologies present two solutions to the challenges advisors face, allowing them to more efficiently manage their compliance activities and develop a holistic view of their clients' journeys.
It will be interesting to see the challenges incumbents face with integrating these solutions in the presence of older technology stacks, versus innovators with less technological debt.
2017 Tech Trends to Watch in Wealth Management
CEB TowerGroup recently released a report on the biggest technological trends occurring within wealth management for 2017. The industry push towards adopting fresh technologies is driven by a culmination of factors like slowing AUM growth, increased regulation, fee compression, and a major shift in client demographics and behavior.