Author: Jeff Levi
1. Data will drive more personalisation of investment advice
Historically, investment advice has been driven by perceived investment needs, typically mass produced or highly customised. Data will enable a much greater degree of real-time personalisation around specific goals and desired outcomes, with investment advice built to meet specific financial needs.
2. Digital will simplify and improve the client experience and create a more holistic experience
Historically, the client experience approach has been in-person face to face interaction, heavily anchored to personalities, and to a lesser degree to content and reports. Looking ahead, technology will create omni-channel interactions, redefining engagement – you can engage somebody in multiple ways simultaneously. Digital simplifies the sharing of information, brainstorming, identifying preferences and needs, and can creates a very tailored and elegant experience. It will allow for a more holistic review of one’s financial well-being, considering traditional areas like portfolio management, estate planning and taxes to newer areas such as debt management and healthcare.