When it comes to digitally driven growth, could wealth managers be selling themselves short?

by Oct 9, 2020

Applying systems to client intelligence. Empowering advisers through automation. If ever there were a time to start doing these things, then it’s surely now?

COVID has made the shift to fully digital relationships a reality. Yet only a minority of wealth managers match new technology to a new situation. And that means they, and their clients, are losing out.

Based on my observations across many institutions around the world, I estimate around 20 percent, at most, do what’s necessary, in cultural, operational and technology terms, to make COVID a positive turning point.

What should the remaining 80 percent be doing?

The answer is a joined-up approach, starting with culture. This means moving away from a fragmented ‘see who’s out there and eat what you can hunt’ approach to sales.

Instead, think in terms of a centralised lead management model, with real time oversight of who is doing what and what’s really happening.

Think about a client and prospect intelligence system that delivers real insights and removes guesswork.

And think about your whole prospecting-to-contacting-to-closing process as a seamless journey. Put technology in place to close the gaps and give you, and your clients, the best chance of a rewarding relationship.

Supported with the right technology, COVID is a real chance to do things differently. And that starts with a sales process that doesn’t leave wealth managers selling themselves short.

For more information download our white papers:

Next Generation Technology and New Client Acquisition

Personal Relevant Timely and Actionable Defining and Delivering Personalised Client Engagement

Together we can make it! Co-creation in Wealth Management


Alessandro Tonchia
Alessandro Tonchia
Co-founder & Head of Strategy at Finantix
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