I want to talk a little bit more about these hybrid advisory, that system, because obviously it’s a big question is where does the wealth manager fit into that?
The relationship between the top end client and their RM is fundamental. The trust is very important. I don’t see that going away, but that said I think hybrid advisory solutions will become the evolving standard, because they tend to provide the best of both worlds.
So on the one hand, yes having self-service capability in place where appropriate, but freeing up the advisors time through the automation to focus on higher added value activities, onboarding more clients or spending more time with those top end clients.
So, it’s really I think the model that provides the flexibility to adapt the service level across the client spectrum.
Furthermore, the ways that we interact are changing and I think top end clients will expect today to be notified through digital channels about events on their portfolio that may require their attention and to stay in touch with their RM using things like video chat technology, more quickly, more easily than they might have been able to do in the past.
In this way we can see technology really actually supporting and enhancing the RM customer relationship.