Wealth Management Digitalization
Why it`s necessary and how it changes traditional client advisory
How to serve the unique demands of a challenging new generation of wealthy individuals with smart digitalization of the wealth management value chain.
Wealth Managers are on the threshold of facing a big market disruption as part of the ever faster advancing digitalization of every area of human life. While they still have to cope with low margins, high overhead costs, regulatory burdens and outdated IT systems, a new big challenge already rose over the horizon: the biggest heredity of wealth to another generation in human history - and this new generation not only grew up in a digital millennium, but is also characterized by entirely new needs and expectations in multiple areas of life.
The electric light did not come from the continuous improvement of candles. (Oren Harari)
Wealth Managers must find answers to the questions of how to retain this new generation of clients in the long term, while at the same time reducing cost pressure and achieving a whole new level of profitability, given that they want to remain successful in a digitalized and highly competitive new era.
Deloitte is able to help you face these problems and implement targeted solutions. If you would like to know more about our approach and how digitalization changes client advisory more than ever before, be welcome to gain insights from our point of view publication.