Summary
What this article covers in 30 seconds
- Clients have more wealth management options and are influenced by peer experience.
- The 2019 Capgemini World Wealth Report linked unsatisfactory service to switching.
- First interactions shape prospects’ expectations before they become clients.
- The webinar covered data, next-generation investors and reusable regulatory information.
Recordsure hosted Transforming first interactions into trusted client relationships with Wealth Dynamix on 22/04/2020.
Clients have increasing access to wealth management services, are influenced by peer experience, have access to a wide range of information and are willing to switch provider when service is sub-standard.
Why early interactions matter
The 2019 Capgemini World Wealth Report found that an unsatisfactory service experience with a wealth management firm was the most significant factor, at 87%, influencing high-net-worth individuals to move to another provider.
For prospects not previously known to a firm, the experience starts as soon as they become aware of the brand. They begin forming opinions about the quality of service they might expect as clients, which makes first interactions important in shaping early impressions.
What the webinar covered
The webinar asked how wealth managers can achieve faster analysis of client touchpoints, a 360-degree view of the effectiveness of client engagements, actionable insight to support conversions and the ability to identify new revenue opportunities.
It invited wealth management leaders to explore how advisers can drive value from data by turning noise into signals, what strategies firms should use to reach the next generation of investors, and how they can capture data needed for regulatory obligations once and reuse it throughout the client lifecycle.
Chief Compliance Officers, Heads of Client Service, Heads of Relationship Management and Heads of CRM, Onboarding or KYC were the intended audience.
Frequently asked questions
The webinar was hosted by Recordsure in partnership with Wealth Dynamix.
The 2019 Capgemini World Wealth Report found unsatisfactory service was the most significant factor, at 87%, influencing HNWIs to move provider.
Prospects form opinions about expected service quality as soon as they become aware of the firm’s brand.
It covered capturing data needed for regulatory obligations once and reusing it across the client lifecycle.