For so long a highly profitable sector for the majority of participants, wealth management is today under greater cost pressure than ever before. A range of factors including changing competition, enhanced regulation, evolving product and financial markets and consumer trends have put consistent pressure on both the income and cost sides of the business. Income is harder to come by in the consistent and relatively easy way it was in the past and the broad costs of doing business are often higher. Technology, which clearly plays a role in both supporting the income side of the business as well as itself being a cost of doing business, is also a tool that can support any wealth management to generate cost savings in broad or specific areas of their business.
In this live webinar, Stephen Wall, Co-Founder of The Wealth Mosaic, hosted Christopher Ansara, Founder & CEO of ALT/AVE, Alan Blanchard, Business Development (UK), Apiax, and Sarah Carver, Global Head of Digital at Delta Capita, to discuss the role technology can play in bringing costs savings to the wealth management sector. The panel looked at the main challenges in the market with regard to the cost-income ratio, what role elements such as regulation play here, the areas where technology can be brought in to generate savings and the ways in which technology can be deployed and managed to support cost savings.
