How Wealth Management firms will work and think in 2025, that’s a very good question!
Last week, Alberto Cuccu, CEO of Objectway Ltd, gave the answer in London, during the Compeer’s Clients’ View Conference.
His speech on “The Wealth Management Firm of 2025” was well received by a qualified audience of Wealth Management professionals.
The 2025 updates
Alberto shared the results of a series of workshops set with over twenty senior executives from UK Wealth Management firms ranging in size between £18m-£200m of assets under management, with expertise in business strategy, operations, marketing and technology.
These discussions focused on the key issues currently faced by the industry, where improvements are required and how they felt the industry will need to adapt and evolve over the next five years, thereby providing a view of the Wealth Management firm of 2025.
Time to Spend, Integrate, and Automate
One of the facts highlighted from Alberto’s speech is that the expense of servicing clients is generally expected to rise; at the same time it’s important to automate wherever it adds value and efficiency, whilst implementing software solutions that work in synergy. The CRM needs to evolve into a client management system covering on-boarding, re-boarding, client reviews, and requires good integration with various data sources, including front end tools and back offices systems.
Finally, there will be more attention to the cloud, security, and outsourcing in the future.
Alberto said much more and went into greater detail; it was a great chance to stay up-to-date with the technology and digital strategy evolution in Wealth Management.
More Food for Thoughts About the Future
If you fancy so, you can have a look at the tweet feed we generated through the event. How will Your Wealth Management firm work and think in 2025?
Here we come with the tweets!