The future of wealth management is about the successful use of technology but also about relationships.
A great transfer in wealth from aging baby boomers to younger generations is under way, and it is reshaping the industry in ways that demand greater efficiency and adaptation byincumbent firms. The challenge: retain the loyalty of customers with changing demands in a world of greater choice.
To gain a unique view into the experiences of both clients and advisors as the wealth management industry faces change, Temenos and Forbes Insights surveyed more than 60 wealth managers and 35 High-Net-Worth (HNW) clients about the evolving banking experience.
How wealth managers communicate with their clients? What are their needs and what role technology plays?
Respondents were drawn from across the world with tree-quarters of the executives from Asia Pacific, Europe and North America.
More than half of the executives surveyed are CEOs and almost 30% are heads of asset management. 90% of HNW clients surveyed have net worth between $1.4 million and $7 million.
The Rise of Bionic Wealth outlines the key findings from the research, with commentary from executives at leading investment and private banks.