Digital Transformation in Wealth: How to Compete Amid Rapid Change

Presented by

Lauren Crossett, Ramprasad ‘RP’ Sandilya, Julie Coin

About this talk

June 4, 2020 | 1:30 pm ET -Lauren Crossett, Wealth Vertical Lead, Plaid -Ramprasad ‘RP’ Sandilya, VP, Business Development, Wealth & BPO at Broadridge -Julie Coin, President, DriveWealth What you’ll learn: -The impact of evolving investor expectations on your practice -How to leverage emerging technologies to grow assets under management through improved account portability -How COVID-19 is changing what people demand from financial services and what it means for wealth management’s digital transformation Wealth management is an incredibly sticky service, with little customer churn. Few services organically increase per-customer revenue over time in the way that AUM fee-based wealth management does. In spite of this value, wealth management is becoming increasingly commoditized. Downward pressure on fees continues and we are approaching the end of paid trades. Consolidation of the advisory space has not occurred—rather, it has become more competitive—with robo advisory services and breakaway RIAs providing investors with a seemingly growing number of wealth management options. So what can wealth management firms do to compete and stand out in this increasingly commoditized market? Firms must put a continued emphasis on delivering best-in-class digital experiences. From account opening and funding to ongoing holistic financial advice, everything must be easy, seamless, and value additive for retail investors. This webinar will explore some of the ways in which firms can work with technology vendors to revamp their digital experiences in order to accommodate investor expectations and behaviors—both of which are rapidly evolving in real-time due to the COVID-19 pandemic.

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