Digital Technology Is Going to Redefine the Relationship Between Advisor and Client

Some thought about what I’m going to say and present at the ComPeer event Optimizing the Front Office in London tomorrow.

Digital Is Bringing Change

World of wealth management client servicing is in flux—demands are changing, driven by regulation but also by digitization trends.

Online retailers and banks are at work to deliver enhanced customer experiences, especially online mobile experiences.

Banks have been grappling with how to keep the face-to-face relationship and at the same time deliver value added services via mobile—reducing costly face to face time but enhancing the experience at the same time, so they don’t lose customers.

Wealth industry has been slow to adapt – that’s a traditional problem – and firms are usually behind in adopting new technology and changing disruptive elements.

Not Only Demographics

But now, no longer can digitisation be ignored as more and more firms are pressed in to it by clients and not just by the millennials; the baby boomers also look for mobile capability and they are usually enthusiastic users of tablets, for instance.

Wealth firms therefore are looking to provide new digital mobile users experiences! But to who, and how?

It’s not just the clients who want a mobile experience; many advisors are going to adopt it to minimize response times and raise the potential number of clients they can manage.

It’s way more than a simple online reporting experience. It must allow for interaction and communication: can I get my contract online and sign it?

Can the advisor pitch to his client at their place of residence, record the details and process the recommendations remotely without going back to the office?

Objectway is going to introduce a solution that can enable a true hybrid advisor proposition – online when needed, face-to-face when opportunity dictates it – and can be easily integrated into the customer’s back-end, other than offer all the advantages of a trill hybrid customer journey.

Stay tuned for my speech!

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