Financial Technologist interview with Wealth Dynamix

Learn why Wealth Dynamix was chosen by the judges and the key wealth management trends we see in the year ahead.


In March, 2020 Wealth Dynamix, a global leader in Client Lifecycle Management (CLM) solutions, were delighted to learn of its appearance on the The Financial Technologist ‘Most Influential Financial Technology Companies 2020’ list.

Selected by a panel of judges from EY, Baringa, Coremont, Lloyds Banking Group, Alpha FMC, CRUXY & Company and The Realization Group, the 187 firms were chosen for their potential to make a major impact on the FinTech industry in the year ahead.

Below is an interview with Lucy Heavens, Head of Marketing at Wealth Dynamix from the published report. The full list of technology firms can be downloaded here.

Why do you think Wealth Dynamix has been shortlisted in this year’s list by the judges?

Wealth Dynamix is an innovative, forward-looking business and we are uniquely positioned to address the specific challenges that wealth managers face as they navigate through the client lifecycle.

We have more than 125 domain experts with decades of wealth management and financial technology experience. Their combined expertise has influenced the industry’s evolution from the use of standard Customer Relationship Management (CRM) tools towards adoption of end-to-end Client Lifecycle Management (CLM) platforms. We recognised the need for a solution custom-built for wealth managers, which accelerates and strengthens every aspect of the client lifecycle, from acquisition and engagement to digital onboarding, ongoing relationship management and client servicing. Most solutions in this space are focused around onboarding and are not sector specific; Wealth Dynamix offers a complete, end-to-end solution that spans the entire wealth management client lifecycle.

Vast increases in regulatory compliance requirements have also added huge complexity for wealth managers. Many have struggled to meet regulatory obligations without negatively impacting the client experience. This is something we at Wealth Dynamix are especially proud of – the ability of our WDX1 CLM platform to ensure regulatory compliance throughout the client lifecycle, while at the same time delivering a frictionless and personalised experience.

What was your highlight of 2019 as a company?

Growth. In fact, 2019 marked the seventh consecutive year of growth for Wealth Dynamix in several key areas, which has put us in a great place to win business and solidify our position as global CLM market leader in 2020.

Client servicing is as important for us as it is for our clients. We are already present in London and New York and we opened new offices in Switzerland and Singapore last year. Being closer to our wealth management clients in these regions has significantly improved our service offering.

We were first to market with a genuine CLM platform that combines prospect management, client onboarding and ongoing client servicing in a single solution, which integrates with existing systems and is built on market-leading Microsoft Dynamics 365. The market has responded well, and our client base has grown, now spanning the entire spectrum of wealth management firms from global tier one banks down. We have also grown our partner ecosystem to make it easier for clients to implement WDX1 and integrate it with their pre-existing infrastructure and data sources, from core banking through to financial planning systems.

What does 2020 hold in store for the business?

More growth! Our collaborations with industry-leading technology and consulting firms like Microsoft and Synpulse are now established, and through 2020 these alliances will undoubtedly fuel growth in clients across the globe, especially in the tier one sector. Our Singapore-based Innovation Centre is also working to enrich WDX1 with AI and other transformational technologies that support client self-servicing and equip advisors to optimise client engagement.

Where do you see the key trends for the year ahead?

First of all, there will be a shift towards improving the advisor experience as well as the client experience. In the last few years a lot of time, energy and investment was focused on front-end technologies designed to improve client experience, like client portals, mobile apps and robo-advisory, but it’s now clear that clients feel best-supported by a hybrid service offering. Yes, they want access to a digital investment platform and easy access to portfolio information and valuations, but they also value the personal service provided by advisors who understand their investment goals, monitor markets and political events continuously and can make personal recommendations in real time. To make this possible WDX1 provides tools that minimise administration for advisors, deliver more insightful information about client preferences and make it easier to match products and services to individuals.

Second, data will become a differentiator. Masses of client data is collected during the prospecting and onboarding phases of a client relationship. Sadly, for many wealth managers, this data creates a lot of noise but little value, as it is held in disparate siloes and can’t be analysed in a meaningful, holistic way. Today, it is entirely possible to transform this noise into signals by integrating disparate systems across the entire client lifecycle, automatically syncing this data and using it to generate actionable insights, which help advisors to improve the quality and timeliness of investment recommendations.

Third, wealth managers will begin to address the entire client lifecycle, not only onboarding. Many wealth managers have had their heads buried in the onboarding sand in recent years, investing heavily at the expense of other phases in the cycle, leading to inconsistent client experience. In 2020 these firms will look beyond onboarding. To optimise client experience they must assess every touchpoint to ensure that they are delivering a frictionless experience that is relevant, compliant and lucrative for all involved.


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