Investment managers have become accustomed to using big data as a catalyst to better understand their clients and lower portfolio management costs. While much has been written about the potential for artificial intelligence and related technologies to replace the role of the conventional advisor, the majority of innovators have focused on providing advisors with tools and capabilities to do their jobs better. Executed appropriately, advisors can work alongside these platforms to deepen share of wallet and maximize value generation for clients.
How Fintech Is Shaping the Future of Wealth Management
A report from the World Economic Forum predicts three possible scenarios for advisors.
News: Time to digitalise amid tightening margins
Wealth management firms, both independent and bank-backed ones, have seen their pre-tax profit margins decline in each region of the world in the past decade. This has been due to factors such as the push by regulators for greater transparency and investor protection, the rise of low-cost passive investment vehicles such as exchange-traded funds (ETFs) and increasing competition from financial technology (fintech) firms, according to Boston Consulting Group’s Global Wealth Report 2017.The report says the biggest declines in pre-tax