Wealth management advice in the digital age

Kendra Thompson

Journal of Securities Operations & Custody, 2018, vol. 10, issue 1, 6-11

Abstract: The wealth management competitive landscape has changed dramatically in recent years, from technology advances to a changing client base. Firms must evolve quickly or could risk losing business. A hybrid wealth management model – one in which clients receive the best of human and digital advisory – could be the answer. Hybrid advice is not only what clients prefer, it is necessary for wealth management firms to deliver at scale for a profit. In short, the hybrid model is essential for the continued survival of wealth management enterprises. When looking to move to a hybrid model, wealth management leaders need to address three main areas of their firm: products and services; organisation and people; and channel interactions and tools.

Keywords: wealth management; robo; hybrid wealth management; hybrid investing; digital wealth management; wealth advisor (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2018
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