Sink or swim: Why wealth management can’t afford to miss the digital wave

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Sink or swim: Why wealth management can’t afford to miss the digital wave

The world is living through one of the most transformative times in human history. The rise of technology has altered how we live and the speed with which we engage with one another. But how does this impact wealth management?

The digital threat to wealth management

The rise of technology has altered how we live and the speed with which we engage with one another. But how does this impact wealth management – a proposition predicated on personal service, where clients pay for solutions and advice tailored to their individual investment goals, day-to-day financial needs and attitudes to risk? PwC has surveyed over 1000 high net worth individuals and interviews with 100 client-facing relationship managers who work in wealth management firms to explore the digital opportunities that the industry is powerfully positioned to exploit.

Explore the report and discover the key take-outs:

  • Low digital response 
  • Low client advocacy
  • High tech appetite
  • HNWIs advocate paying for expertise
  • Client advocacy: why digital complacency is not an option
  • Meeting client expectations for an online interface