Many brokerages and private banks are looking to their wealth management and high-net-worth groups to restore their profitability. But as technology marches forward, the HNW cohort—especially Generation X—will expect more from their client experience.
According to an Aite Group study of 30 wealth management firms across North America, technology spending is going up, but only one-third of that is going to client and advisor experience initiatives.
“Now is the time to really develop a comprehensive solution for the high-net-worth, one that can really address their needs and meet their client experience expectations,” said Sophie Schmitt, Aite Group analyst.
What can advisors do to keep up? Here are five tech trends that will drive HNW engagement.
