For this research-led whitepaper, we focused on establishing a roadmap to becoming the trusted adviser by speaking to C-level executives from UK wealth management firms, small, large, and somewhere in between.

The first thing we established is that what clients really want is to have an adviser who will navigate through life with them and be empathetic about their overall situation. Broadly speaking, the main priority for clients is having someone who is easy to deal with, communicates well, keeps in touch at an appropriate and relevant level, can decipher investment goals, and, to that end, put a plan into place. 

Indeed, with its foundations in human relationships, this industry continues along the same premise: people will deal with people they like and trust. However, we also explored, with respondents, the ways in which technology could support them and act as a supporting act to create a more accessible and positive user experience, facilitating communication between the client and the adviser and making the day-to-day easier.

Interested in reading the research? You can read and download the whitepaper here.

Key findings
In our research, we identified four key trends and focus points, which we’ve used to define the structure of the paper.

• Growth is the most significant focus:
  • Hybrid models and digital tools support growth by providing better customer service.
  • The type of digital tooling needed differs depending on the echelon of the wealth management community served.
• Client engagement:
  • Industry surveys, peer group analysis, third-party networking events, and pulse surveys are common practices to test sentiment.
  • Sending relevant and timely information was important, as was not bombarding clients with information.
• Goals-based planning:
  • Effective planning results in deeper adviser-client relationships and offers clients long-term confidence.
• Financial planning:
  • Different opinions exist about the value of various tools, notably signals and monitoring capabilities, wealth projections, and complex ‘what-if’ scenario planning.
  • Detailed analytics were less valuable with clients at the top of the wealth scale because they had more exposure to esoteric investments that were not as liquid, more complex to value in the first place, or something relatively new like crypto.

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.