LEADERSHIP & STRATEGY
“The wealth management industry has responded to the digitisation trend by investing heavily in building digital channels and solutions ”
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— Accenture
traded funds to achieve diversification at low cost .”
In the past , these platforms haven ’ t been able to muster the kind of power at a sufficiently low price point to compete with intermediaries , but this is where the other trend comes in . Acceleration refers to the fact that technology is becoming increasingly flexible and cheap . It “ allows the rapid deployment of new products and services . In the wealth management industry , adapting financial technology has driven the development of digital wealth management services and platforms .”
This doesn ’ t spell the end of investment management as an industry by any means , but firms will need to elevate their value propositions as more basic offerings are replaced with a more DIY , app-driven approach . Many of these new solutions are using Robo- Advisors to support their platforms .
AUGUST 2020