“AI has been a central theme across conversations, and I’d like to focus on what we at Wealth Dynamix term REAL Intelligence – how AI can deliver real, actionable benefits for your business today and beyond.” With this, Darell Miller, Managing Director APAC at Wealth Dynamix, kicked off his engaging presentation on integrating AI in wealth management operations.

Tackling the Challenges of Asian Wealth Managers

Darell highlighted the pressing challenges facing wealth managers in Asia. “Many firms aim to double their AUM between 2023 and 2026, but with cost-to-income ratios averaging 62–70%, achieving this goal is no easy feat.” He emphasised that efficiency gains are essential, given that most firms expect RMs to deliver 95% of AUM growth. “In other words, your RMs need to double their output—without doubling your operational costs. That’s where AI becomes indispensable.”

Three Certainties for Success with AI

Darell outlined three key certainties for wealth managers exploring AI:

• The Shift to the Cloud:
  “We believe the public cloud will be essential for most wealth managers deploying AI,” Darell stated. For firms reluctant to store client data in the cloud due to security concerns, Wealth Dynamix offers a solution: field-level tokenization. “With this technology, even sensitive data like account numbers and tax IDs remain unreadable, ensuring compliance with local regulations. This approach has already been reviewed by regulators, including FINMA and CSSF.”
• Data Quality and Operational Processes:
  Darell emphasised that AI can only be as good as the data it processes. “Poor data and undefined workflows can create exponential risks. It’s like pushing your most valuable assets — your clients — down a rocky hill without proper safeguards.” He stressed the importance of structured data models and well-defined processes. “These operational foundations must align with client-facing solutions to ensure AI delivers meaningful results.”
• Compliance as a Non-Negotiable:
  “In life, death and taxes are the two certainties. In our industry, Compliance is the third certainty,” Miller remarked. AI solutions must align with regulatory requirements to avoid hefty fines and reputational damage. He pointed out that the MAS increased its fines by 86% between 2020 and 2023, highlighting the importance of transparency, evidence-based processes, and auditable AI solutions.

AI in Practice: Unlocking Efficiency and Growth

Darell showcased examples of how AI can enhance productivity by automating administrative tasks, streamlining onboarding, and improving client management. “A typical RM today manages 70 to 100 HNW clients, but with AI-driven operational support, that number could double, creating new opportunities for growth without additional headcount.”

Focus on Onboarding for Maximum Impact

Darell highlighted client onboarding as a high-impact area for AI deployment. “Some banks we work with are actively reducing onboarding times for low to medium-risk clients by 50–66%. Even banks with below-average onboarding times are still pushing for greater efficiencies to meet their growth targets.”

Building a Foundation for Scalable AI Solutions

Darell closed by summarising five key takeaways for wealth managers:

• Adopt public cloud solutions unless you’re among Asia’s largest private banks.
• Use tokenisation to keep customer data secure and within your premises.
• Implement a data model tailored to wealth management with aligned operational processes.
• Embed compliance into AI and CRM systems to ensure transparency and regulatory approval.
• Choose scalable SaaS solutions that cater to firms of all sizes—from 10 to 10,000 users.

A Call to Action

Darell concluded, “If you’re serious about leveraging AI to double your AUM, streamline costs, and empower your RMs, now is the time to act. We have the tools, solutions, and expertise to help you transform your business. Let’s talk.