Financial Services:
Private Wealth Management |
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The main challenge for today’s wealth managers is how to deliver an integrated wealth management proposition, including wrap products, hedge funds and standard managed and advisory service.
This challenge is a response to a number of critical factors that have arisen in the last 20 years: |
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| 1. Investors' knowledge. High net worth/mass affluent individuals have increased their knowledge of investment trends. With virtually limitless access to financial information online, investors are now more sophisticated in their product and service requirements. |
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| 2. Investors’ experience. Individual investors have amassed wealth through inheritance along with wealth built from corporate and individual activities. As a result, investors have more understanding of how their wealth should be managed. |
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3. Investors’ caution. Many of today’s investors will mitigate the risk to their portfolio by spreading their wealth across a number of global investment managers.
So, how does a wealth manager respond to the challenge?
Firstly, the wealth manager will ideally be looking to provide an integrated wealth offering as a way of maximising profit per client and promoting client retention – two equally important considerations in today’s volatile markets.
Secondly, if an organisation wants to deliver an integrated wealth management offering to the high net-worth/mass affluent market, it will still need to focus on individual service and provide a cross-business delivery function.
If the organisation can maintain the client-centred delivery focus within an integrated offering, then the relationship should be profitable and should lead to a high-retention rate.
If your organisation is facing any or all of these issues, FusionExperience has the knowledge and expertise to help. We make it our business to know what your future challenges will be, so we can provide the most relevant and innovative solutions. |
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 Find out more about our capabilities here |
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