Taking Wealth Digital: The Latest Advancements

The wealth management industry has been transformed by the rapid evolution of digital technologies and automation. Robo-advisers continue to gain traction, with a focus on user-friendly interfaces, transparent investing, streamlined onboarding, and low fees. The appeal of these platforms has expanded beyond tech-savvy millennials, reaching affluent and high-net-worth customers as well.

The industry is experiencing improved client experiences, reduced fees, and the opportunity to engage mass affluent customers. This has increased pressure on traditional wealth firms and private banks to embrace digitisation, streamline operations, and automate processes. In response, many large firms have developed or acquired robo-advisory platforms.

While the initial focus of robo-advisers was on millennials, diverse demographics and consumer preferences have led to the development of various models, including digital-only, hybrid digital, and other innovative digital wealth models. These platforms now cater to consumers across all age groups and net worth levels.

The impact of robo-advisers on traditional wealth firms is a topic of much debate, with some predicting that they will eventually replace human advisers. While certain aspects of traditional advisory models may be disrupted, we believe that robo-advisers will also play a vital role in enhancing existing models through hybrid digital offerings.

At WealthObjects, we are confident that the end customer – the investor – is the real winner in this digital revolution. Personalised, low-cost, and transparent investing empowers customers to take control of their finances and achieve financial freedom. Firms and individuals who embrace these next-generation models will truly differentiate themselves and be rewarded by their customers.

WealthObjects provides B2B robo-advisory, financial planning, and engagement-ready platforms or modular APIs for consumer banks, fund managers, investment firms, and insurance companies. We help firms launch customised and automated digital wealth propositions quickly and cost-efficiently.

– Team WealthObjects