The importance of financial planning proposition to engage and service clients in the modern wealth management sector is clear. For the modern wealth manager, seeking to support their clients with professional knowledge and guidance, being able to support their clients with a financial planning capability is an increasingly important requirement.
Heightened financial complexity due to a changing financial products marketplace, the impact of similarly complex tax rules, alongside the depth of regulation and the risk of non-compliance, means financial planning is both a great opportunity to deepen client relationships for UK wealth managers as well as a clear challenge. As with many other areas of need and opportunity in the wealth management sector, there is clearly a strong case for modern technology tools to enhance, scale and build out the offering.
In this webinar, Stephen Wall, Co-Founder of The Wealth Mosaic, hosted James Howell, Director at PwC Wealth Management Consulting, Jamie Keen, Country Manager UK & Ireland at aixigo, and Ian Pickford, Partner and Head of Financial Planning and Wealth Management at Mazars, to delve deeper into what role financial planning has today in the wealth management sector and how dedicated and modern technology can further enhance the offering.
Specifically, Stephen asked the panel to consider the driving forces of change behind the need for financial planning in the sector, the challenges wealth management firms face in delivery, how technology is currently employed, what firms have in their development roadmap and where technology needs to be improved to better support, where the enhanced use of technology in this area can take wealth management firms and what more we might see in the future as technology is increasingly used to support financial planning.
Thank you to all the participants for their time and insights!
