Robo-advice

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The global wealth management industry is at an inflection point. The ability to adopt and exploit digital innovation, in particular that being created by the FinTech sector, will separate the best firms from the also rans.

With rock-bottom interest rates eroding cash returns for customers and firm’s interest income, an aging customer demographic creating an unprecedented intergenerational transfer of wealth, and ongoing regulatory and political pressure there has been a strategic re-focus back onto wealth management by the major banks, life companies and asset managers. Success for firms will require them to address a set of customer expectations that have been set both outside of financial services, and by new customer focused and digital first FinTech players. In particular, automation by so called ‘robo advisors’ that provide online portfolio management with minimal human intervention, will challenge traditional financial advisors.

The impact of regulatory driven price transparency and increased competition across all elements of the value chain is rapidly eroding revenues. The adoption of digital across all aspects of their wealth management operations, not just within the customer proposition, will be critical to a firm's ability to deliver the increased efficiency required to maintain profitability as well as expand distribution channels. 

PwC brings in-depth customer, FinTech, regulatory and operational insight and experience to help you understand the strategic options available, design and develop a winning proposition, and on the execution of your organisation's digital advice transformation. 

Contact us

Manoj Kashyap

Global FinTech leader, PwC United States

Tel: +91 226 669 1888

John Shipman

APAC FinTech Leader

Tel: +61 (2) 8266 0198

Will Stevns

Partner, PwC United Kingdom

Tel: +44 (0) 7841 567 045

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