AI is helping thinly spread Wealth Managers save up to 20% of their time

By Valuefy

December 31, 2018


The Human Wealth Manager is a very precious resource, and often extremely expensive,  with median salaries of well over 100K (Census data collected by WSJ). In such a scenario private wealth management firms often tend to overwork and spread thin their accounts, in some firms, it was found that Wealth managers were juggling between 200 to 500 portfolios in a work week. This led to many wealth managers working well over 80 – 100 hour work weeks.

However pulling such long work hours often mean that Wealth Managers often become less efficient and often develop depression, anxiety, immune disorders that affect their quality of life, efficiency, and their decision-making capabilities.

How can Artificial Intelligence make a difference?

AI is helping Wealth Management firms optimize their Wealth Management process and reduce the strain on Human Wealth managers by automating a lot of the research, onboarding, goal setting, and operations that goes into wealth management.

Leading Investment technology firms such as Valuefy are creating sophisticated Wealth Management platforms and Robo advisory services that crunch through Terabytes of data in seconds compared to hours of manual research. Big data analysis is helping Wealth Management professionals create better models and strategies for their firms by factoring in more strategies and variables and thereby tempering the tendency to make biased decisions.

These platforms are also helping Human Managers organize their portfolio lifecycle better by leveraging real time insights. This helps Wealth Managers at large firms managing 200+ portfolios a day dedicate their attention to macro and micro trends and take corrective action or rebalancing if necessary.

Using these big data platforms can also help Wealth Managers have data driven and nuanced conversations with their clients. It can help clients feel at ease and assuaged to have hard data backing up their investment strategies. Overall it helps Wealth Managers to be proactive and respond to trends quickly, leaving customers feeling more valued.

The major benefit, however, is that it helps Wealth Managers free up their time by almost 20%. This translates to almost a whole day a week, which can be better utilised to reevaluate strategies, cement relationships, prospecting and more rather than day to day portfolio management operations.

To learn more about how AI can help your firm reach peak efficiency, set up a free consultation today – Set up a Demo

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