LGT Group, the largest family-owned private banking and asset management group in the world wholly owned by an entrepreneurial family, recently announced that it is producing its investment content on Adviscent’s Interactive Advisor. LGT’s David Wolf, Head Research Content and Publications at LGT Private Banking Europe, spoke to Elena Gil, Senior Strategy Consultant at Avaloq, Adviscent’s strategic partner, about their new solution in a video interview.
David Wolf works with dedicated teams of investment writers in collaboration with research analysts and strategists who write, edit, layout and publish all the private bank’s publications and investment content. They also develop channels and processes which is why they came in contact with Adviscent.
Elaborating on the main pain points in research content and publications, David identifies efficiency as the biggest issue. Analysts do the research, but research publications are drawn up by investment writers and are edited manually. Additional information such as charts and illustrations are inserted manually, and these manual processes are repeated for each update. Therefore, LGT needed a solution that made the entire process more efficient by automating updates and document creation. Knowing that there were solutions on the market that offered content management tools along with a structured database that met their needs as well as an efficient document syndication, they partnered with Adviscent, who had a track record in this area and completed projects with comparable private banks. Furthermore, they wanted their channels to be enabled for the future for content in formats that were not yet in use.
In the initial phase, LGT structured its publication processes along the different modules of the Interactive Advisor Framework. Implementing the first module, content creation and management, involved analyzing its investment, publication and recommendation landscape and decomposing it into smaller content items, so that they could be later recomposed into different publications. Content on this level is automatically distributed in the different publications without having to create new documents. A further step was filling out and automatically updating templates. The tool also includes four-eye principles.
The second step was content distribution. Obviously, LGT sought to create pdfs as well as editable presentations, but also HTML snippets to be used in a whole range of different applications later.
The next step, content consumption, means feeding content and documents into existing channels that the bank’s relationship managers are accustomed to using. And now that documents are always up to date, research content can be fed into channels where it is not yet available, e.g. an automated input into LGT’s e-banking, which is a nice way of presenting research in e-banking that goes beyond uploading pdfs. Its integration into an advisory workbench to make this content available for the advisor in the advisory process for investment recommendations, investment proposals will be a further step.
Adviscent is a FinTech startup specialized in innovative information management solutions for advisory processes. It developed Interactive Advisor, a content and personalization hub that integrates wealth management research processes into one platform. Interactive Advisor's intelligent recommendation engine helps financial advisors deliver content that fully matches client profiles and preferences at any point within the client journey. In turn, they gain key insights into what their clients want.