The WealthTech Matters event series is an annual celebration of the wealth management industry and its technological advancements. Every year we collaborate with Owen James to offer COOs, CTOs, CIOs, and their teams from the top wealth management firms and private banks, an opportunity to network, exchange ideas, and gain valuable insights from each other.

The rise of the mass-affluent market has given wealth managers a new opportunity to expand and diversify their customer base, increasing their overall AUM. Establishing a hybrid servicing model was highlighted by participants in this roundtable as a way to fulfil mass-affluent expectations – for this segment, making technology to fulfil a hybrid servicing model is more important than ever.

But while this model will help firms stay ahead of the curve with a minimal rise in cost, it is not the only or the main tool to ensure customer satisfaction. In this write-up, we have highlighted four main strategies that can help: communication, data analysis, client feedback, and referrals.

Each section of this write-up covers ideas on how to improve the adviser’s relationship with the customer, their limitations, and how digital technology solutions can support the process.

Communication and data analysis are at the core of client satisfaction. Without an understanding of the client’s situation, needs, goals, and challenges, the adviser will not be able to make the proper adjustments to the investment plan. Hence they need to engage with the client’s data and be able to reassure them and explain the process. To achieve this and raise satisfaction levels, participants suggested using client dashboards where advisers can have access to all data concerning that particular customer.  

Some participants thought asking for client feedback and referrals could negatively impact the client-adviser relationship, but they could be some of the most efficient strategies. Evaluating the satisfaction levels of the client can help the adviser make prompt changes, and asking for recommendations could double the chances of being referred to other potential clients.

If you want to participate in the next WealthTech Matters, you can access Owen James Event’s calendar here. Next year the Adviser and Client events will be combined!

About WealthTech Matters
Owen James and The Wealth Mosaic have collaborated to create a series of triannual events for key decision-makers from the private wealth industry.

Technology is core to the future wealth management model, but in an increasingly specialist technology environment, wealth managers must engage with a deeper knowledge and understanding of what technology is available and can deliver across the three main areas of their business: their clients, their advisers and staff and their business processes. 

WealthTech Matters focuses on these three themes to help delegates discover and discuss the technology solutions that will solve the key challenges facing their business.

About Owen James
Owen James seeks to provide a platform for strategic engagement: an opportunity for key individuals to discuss and understand the business and investment issues which are affecting the whole of their industry. The end game is to enable firms to do better business - commercially, intelligently, and ethically.

Find out more at www.owenjamesevents.com Owen James seeks to provide a platform for strategic engagement: an opportunity for key individuals to discuss and understand the business and investment issues which are affecting the whole of their industry. The end game is to enable firms to do better business - commercially, intelligently, and ethically.

Find out more at www.owenjamesevents.com