Month: September 2019

Maybe you are a veteran Wealth Manager, a rookie or somewhere in between. Being in the industry, you must have heard about the disruptive technologies that are changing the sector of Wealth Management.

Well, the news is true as Wealth managers around the world are partnering with Fintech companies to adopt innovative technology solutions. It’s improving the efficiency and productivity of their firms and driving their performance.

Let’s take a look at the 5 major reasons why a Wealth Manager needs a technology partner.

Automation

One of the biggest advantages of technology is automation. Technologies like Big Data, Analytics, and AI are offering real-time data, easy access to information, and faster report generation which cuts down the time taken for decision making.

Automation in Wealth Management allows you to finish time-consuming tasks, like generating portfolio insights and reports, in minutes. It enables smoother operations making your job a lot easier. A ROBO assist platform aids Wealth Management in generating portfolio insights and collecting data in an organized way that also leads to a reduction in costs.

Customer Relationship Management

Customer relationship management is at the heart of a successful Wealth Management firm and it can be enhanced using user-friendly technological solutions that provide both ease and accessibility to the portfolio and analytics.

A technology platform, like Wealthfy, adds convenience to processes like Client Onboarding, Portfolio Construction, Portfolio Monitoring, Reporting, Analytics, and Rebalancing. Providing customers with on-demand analytics is another feature that can prove to be very inviting for a wealth manager.

Data Analytics

Wealth Management is built on data. Analyzing and studying historical and real-time data is a crucial part of making decisions that drive returns. Technology platforms perform these functions quickly while increasing the productivity of Wealth Managers.

Solutions that provides analysis of different classes of Assets in a portfolio helps you decide on the expected returns and risk factors of various assets under one platform. Moreover, these platforms support different styles of portfolios, widening their functionalities.

Multichannel Delivery

Smartphones have helped in garnering a deeper penetration across the market. The company-customer relationship has become more personal, making it easier for customers to reach out to the companies more easily.

This has increased the expectations of the consumers who now want to have multiple delivery channels to stay updated on the go. Effective mobility solutions can make this possible by integrating mobile-based solutions into the legacy systems at the Wealth Management firms allowing your customers to keep track of their portfolio and receive prompt alerts.

Customization

 When you customize your platform for your workflows, you make its adoption easier for your customers. It helps you customize advisory and recommendations based on the goals set by the client. This individualistic approach provides a personalized service without taking much time.

Why is the Technical Evolution Welcomed?

The world is changing faster than ever before and this evolution does not intend to cease. Catching up with intelligent technological solutions will only enable you to serve your clients faster and with more precision.

Today’s Wealth Managers are seeking intelligent technological solutions that understand their requirements and aid in bringing down costs, time and an increase in their productivity. Overall help them predict better that in turn help them service their client needs better.

Valuefy is a FinTech company that enables Wealth Managers with technological solutions to ensure the digitalization of their processes and empower them with comprehensive analytics, Portfolio Management solutions, reporting, and relationship management.