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Hybrid advice makes a big impression on high net worth individuals (HNWIs)

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Imagine being able to give your clients the ability to access all of their financial data, on the move, 24/7... The freedom this would give them, and how this could revolutionise your relationship with them. Not only will they be able to access their investments and pension and general savings portfolios,...

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by moneyinfo
| 12/10/2017 18:00:00

CapGemini has recently released it’s 2017 World Wealth Report highlighting that hybrid advice models will be the future of wealth management. Hybrid advice1 refers to the concept of human advisers being heavily supported by automated digital tools replacing manually intensive processes and interaction. 

The report, based on insight from investors with more than $1 million of investible wealth suggests that although they prefer human interaction at the beginning of the wealth management relationship, the deeper that HNWIs get into the advice process and the relationship matures, the more they are seeking digital tools. 

The report finds that established wealth management firms have not made sufficient progress in delivering solutions to clients and worryingly, for these firms, the findings highlight that more than half of HNWIs (56.2%) say they are open to using BigTechs (e.g. Google, Amazon, Apple, Facebook) for wealth management services. Respondents perceived these BigTechs as offering increased efficiency, transparency, online excellence and innovation.

Delivering hybrid advice would be well worth the effort, as nearly three-quarters of HNWIs globally said hybrid advice would be significant in their decision to consolidate assets with their primary wealth manager.

Personal Capital’s2 CEO Jay Shah believes offering account aggregation is essential in building a hybrid advice model.  Jay states, “When you talk about offering sophisticated financial solutions, how can you do that without surrounding the consumer with all their information?”

Unless you have venture capital backing and Silicon Valley expertise, account aggregation technology may seem out of reach for many wealth managers but these tools are more accessible than you think.

To find out how moneyinfo can deliver account aggregation and hybrid advice to your clients please call us on 03303 600 300 or email

1. CapGemini defines hybrid advice as “Putting clients in the driver’s seat by allowing them to tap into life-stage and need-based wealth management and financial planning capabilities in a modular, personalized pay-as-you-go manner.”

2. Personal Capital has been attracted over 1.5 million users via account aggregation and is managing over $5 billion of assets.