Wealth and Asset Management 4.0 global study outlined changing trends and investor expectations, what’s next for wealth firms?

The wealth and asset management industry is well-established, often branded as relatively slow-moving, but it’s evident there’s a tangible opportunity for firms to shift the way they’ve traditionally done things in response to these market trends. 

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Wealth industry experts consider the actions wealth management firms need to take in response to changing investor expectations while ensuring positive investor-advisor relationships in the future.

So what's changed

The digital investment that firms have made over the past few years accelerated the recent introduction of new communication channels. This means investors now have the advantage of a wider range of communications channels to engage with their advisers.

Better engagement with investors is proving to be a highly strategic, commercially viable move. Those firms that are leading the way are reaping the benefits of higher productivity and increased assets-under-management. Ultimately, this results in higher revenues, a greater market share and the ability to deliver more value for shareholders.

Increased focus on ESG and socially responsible investing offers firms a fresh opportunity to distinguish themselves in the market. To lead the way, firms shouldn’t just be considering how to incorporate ESG into their products but also how to embed ESG factors into their strategy and internal culture.

Wealth management firms are facing greater competition. The new investor is more readily prepared to invest in products that truly meet their needs, with firms that offer greater transparency and fair treatment for clients. Such an approach not only delivers the best possible outcomes for investors and boosts the firm’s performance but keeps the regulators happy too.

The shifts in investor expectations has meant firms are under more pressure than ever to connect the new ways of working with processes, supervisory oversight, regulatory guidelines, and compliance. RegTech tools can help firms overcome these challenges. It’s clear the rapid change the industry is undergoing has emphasised the need to fast-track the deployment of analytics tools to monitor, analyse and review all client interactions at scale.

RegTech tools are readily available for wealth firms to utilise, helping to deliver compliance goals and better business efficiencies while also driving commercial benefits.

Meet the experts

Independent Senior Advisor, Conduct Risk & Culture

Founder and CEO, Kore Labs

Ian Ewart

Independent Senior Advisor, Conduct Risk & Culture

Head of Culture, TCC & ex-FCA Culture Lead Associate

Group CEO, RecordsureTCC