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Wealth management advice in the digital age
Journal of Securities Operations & Custody,
10
(1),
6-11
(2018)
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
The full article is available to subscribers to the journal.
Author's Biography
Kendra Thompson is managing director and head of Accenture’s global wealth management practice. She has more than 18 years’ industry experience and is a leading expert on robo-advisory and Big Data trends in the wealth and asset management industries. In her role, she sets Accenture’s vision and strategy for Accenture’s global wealth management industry practice, focusing on business, technology and operations strategies. Kendra has advised many of the world’s top financial institutions on digital strategies. Prior to joining Accenture, she held strategy and marketing roles at large financial services firms in the UK, Canada and Australia. She holds a joint BA and Commerce degree in industrial relations from McGill University and an MBA from the Open University in the UK.
