According to research by GlobalData Financial Services, hybrid advice is the way forward, not only for digital platforms, but also for incumbent providers.
Over 75% of wealth managers interviewed for the 2017 Global Wealth Managers Survey agreed that digital access and channels are essential for wealth managers serving HNW investors. Almost half are looking to partner with fintech start-ups over the next 12 months.
The successful wealth management propositions of the future will combine the best of human and digital capabilities.
While human advice will remain a staple for guiding clients through their financial journeys, a digital proposition is essential: once the planning process is taken care of, clients will look for a direct and hands-on approach to managing and tracking their savings.