Our latest whitepaper, “The quest to become the best – becoming the trusted wealth coach and adviser”, is a part of our WealthTech Insight Series (WTIS), and was developed in partnership with Ortec Finance. The paper focused on identifying the role of technology in supercharging the adviser’s capabilities and becoming the client’s trusted wealth coach.
Interested in reading the research? You can read and download the whitepaper here.
This article provides a summary of our closing thoughts from this whitepaper after comparing insights from C-level executives from UK wealth management firms. And the repeated focus was on establishing a strong and engaged adviser-client relationship.
Creating robust and ongoing goals-based discussions and subsequent financial planning is essential to establishing that first layer of trust and reliability. However, each client has a different end goal and is starting from a different position. Accordingly, the goals discussion should serve to kick off a deeper relationship where the client trusts the adviser and buys into the relationship with ever-deeper levels of engagement.
Technology can help with this clients by determining what kind of information, insights, and support clients want and need. It also keeps records up to date so that the adviser is not fishing around for information and always has ‘next best actions’ prompts. In this way, the technology underpins efficiently, releases the adviser to spend time with the client, and the client, in turn, always feels heard and understood, and thus, engaged.
Ultimately, the client needs to feel like the adviser is by their side over the long term; trust cannot ever be established if the client feels exposed and vulnerable in choppy times. Thus, the ultimate goal is to be the person the client turns to and has confidence in. No amount of technology can replace that human rapport, but it can certainly make life easier and support the adviser in the ongoing relationship management.
Interested in reading the research? You can read and download the whitepaper here.
About the WealthTech Insight Series
This research is part of our WealthTech Insight Series (WTIS), an ongoing and developing research process mixing online surveys and interviews. It focuses exclusively on technology in the wealth management sector across the world. Rather than a one-off research process, the WTIS will seek to build an ongoing programme of research among wealth managers of different types across the world on a broad range of technology and related topics. The aim is to build up an aggregated knowledge base of both qualitative views and perspectives as well as quantitative data points.
Research partner
Ortec Finance is a leading global provider of technology and solutions for risk and return management, enabling wealth managers and banks to manage their clients’ investment decisions. It models and maps the relevant uncertainties to help them monitor clients’ goals and decisions.
Founded by leading experts in the fields of econometrics and technology, we have, in over 40 years, achieved an outstanding reputation built on reliability. With over 500 clients in over 20 countries, it plays a vital role in helping our clients improve investment decision-making and manage uncertainty. Headquartered in Rotterdam, The Netherlands, the firm also have offices in Amsterdam, London, Melbourne, New York, Toronto, and Zurich.
More information is available here.
