As a leading FinTech company, we’re in a position to see new industry trends before they take shape. Some trends happen quickly while others unfold over a longer period. Today, a trend is evolving that will forever reshape the financial services industry even more than it has already: Unified Digital Wealth Management.
Let’s talk about the one change we know for certain robos will bring about: a better investor experience.
I just turned 50. The big five-O. I can’t believe it. Even more than that, I can’t believe the things this “milestone” is forcing me to think about. All the fun things I’ve done, and what should that list of fun things include in chapter two? Followed by, “How do I get more money to do those fun things?” And then, “Have I saved enough money for retirement?” And finally, “crap.”
So, savings. I’ve read all kinds of tips on how to become a better saver. And part two of that equation, how to make those savings grow. Being a Bostonian, I really want to make those savings grow wicked good. Wicked pissa growth is what I want, frankly. Part three of the recipe is what’s the maximum “growth rate” I can achieve, am I achieving it, and if not, why not? My broker tells me that, right? Not really.
The increase in mobile and tablet applications, as well as online resources and educational tools, has created new opportunities for investors to take a more self-directed approach to their finances and investments – while also creating new challenges for investment firms, who must adapt to the changing profile of today’s investor and deliver unified wealth management experience to their clients.
Earlier this year, Isabella Fonseca of Celent and Chris Psaltos, VP of Product Management at Scivantage, hosted a webinar in which they discussed the recent Celent report, The State of Online Brokerage Platforms. A key finding of the report is that online brokerage platforms are generally healthy, with numbers of both users and revenues up over the past few years. This growth is a result of ongoing shifts in the self-directed investor market, which is defined as a group of investors who choose to make their own trades rather than relying on an advisor. This group has grown year-over-year, and brokerages have been racing to capture market share.
Chris Psaltos, Vice President of Product Management at Scivantage, contributes to VantagePoint, with a look at hybrid service models in the wealth management space. As investor demands continue to rapidly evolve, technology has been placed at the forefront of debates in the wealth management industry. The technological progression has some people predicting a robo-advisor take over; however, many […]
The rise of the robo-advisor is often portrayed as the end of the traditional financial advisor. However, our recent webinar, in collaboration with Aite Group, titled “Unifying the Advisor and Investor Experience: The Rise of Client-Centric Wealth Management,” tells a much more complex story about the future of the wealth management industry. The webinar, which was […]
Isabella Fonseca, Research Director at Celent, contributes to VantagePoint, with a look at digital adoption for wealth management and brokerage firms. Social media and mobile channels are at the forefront of firms’ strategic plans, helping to optimize their connectivity with current and prospective clients and drive growth. To date, large wealth management institutions and brokerage […]
As the wealth management space continues to adopt more digital platforms and technologies, access to portfolio information is becoming quicker and more transparent. To help meet these trends, portfolio management offerings need to deliver the flexibility and convenience that financial advisors need to oversee their clients’ investment data, as well as optimize portfolio performance and […]
The increasing use of technology in financial services has led to an unprecedented level of transformation and democratization across the industry – particularly in the online brokerage space. With the rise of services that allow investors to manage their wealth independently, the role of financial advisors is changing drastically. In a recent webinar presented by […]