Integration of digital capabilities with existing processes to enhance client engagement and reach new segments in wealth management
Wealth management has been with us for years, and it is known as a really old industry in finance sector with a lot of emphasis on face-to-face communication and working directly with clients. However, we live in a digital age where technologies are becoming a significant part of our everyday life. It is harder for more established sectors to adjust to these unavoidable changes, but there are few fundamental reasons why digital integration in wealth management is so vital.
Arena International and Verdict Financial are pleased to announce the launch of the inaugural Digital Integration in Wealth Management conference, taking place in London, 15th-16th February 2017. This exciting new event will be the only meeting to focus specifically on how wealth management firms and private #banks can integrate digital capabilities with existing processes to enhance client engagement and reach new segments.
We listed few themes and problems for you to have a sneak into some of the themes of the Digital Integration in Wealth Management conference in February 2017.
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If you want to stay a leader in the industry, external changes and trends cannot be ignored
Digital transformation in wealth management is happening now, therefore those companies that fail to adjust to these changes and implement new strategies will not have a competitive advantage that digital-friendly businesses do. Digital integration in wealth management is the only event so far focusing on capabilities with existing processes to become more competitive at this time.
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Disruptors in wealth management
Wealth management has to be handled in a different way than decades before as we see so many disruptors in the market. Starting with smart phones and tablets that are part of majorities everyday life now. #Robo-advice cannot be ignored either, as computer-facilitated processes are more reliable as they help to avoid human error and save time. Finally, target market itself is becoming a disruptor, bearing in mind that more and more millennials are demanding wealth management services.
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Better allocation of resources
Finally, wealth management businesses are more competitive if they maximise the effectiveness of their resources. There is a new segment of customers known as the Mass Affluent (MA) group. Even though the definition for MAs can range a lot, it is estimated that anyone with liquid assets of £35k or above would be considered to fit into this category. Digital #technology can help with this new segment and allow focus on both MAs and HNW client base.
All in all, digital integration in wealth management is important in order to stay competitive in the in industry. With so many disruptors in the market it will help to foresee challenges and explore opportunities, and finally to help wealth management companies to manage their time and resources in more efficient manner. In order to explore the importance of digital changes attend our conference. If you want to request more information, do not hesitate and email our team.
The 1st Annual Digital Integration in Wealth Management conference promises to offer delegates the opportunity to discover new strategies to face the most prominent challenges when integrating digital into their organisation. Extensively researched with the support of the leading European firms and private banks, this year’s program will comprehensively cover how your organisation can integrate digital capabilities into your existing business.
If staying competitive and relevant in today’s digitally driven world is at the top of your agenda, then join us in February for a content-packed two days of discussions from the digital leaders in wealth management.
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