
Rewind to the mid/late nineties, when data was a grievance for many financial institutions. Poor organisation, inconsistency, inaccuracy, and having too much data were cited as reasons for not putting it to good use.
For the most-part data quality has improved dramatically since then, but with the quantity of data increasing exponentially, how can wealth managers use data to achieve profitable outcomes?
Today, 45% of wealth managers say that financial guidance from data analysis—and insights from the use of AI—will help them refine the advice they give to clients, according a Forbes study. And according to a recent Hubbis report, building a greater understanding of clients is the #1 priority for relationship managers. From the very first touchpoint, it must be quick and easy for relationship managers to collect client data automatically, to fuel data-driven insights.
5 key ways to use data to create loyalty
In a recent webinar, Antony Bream, Managing Director – EMEA and Americas at Wealth Dynamix, and Jonathan Drechsler, Head of Sales and Partnerships at Recordsure, discussed the following critical factors:
Now, more than ever before, relationship managers must equip themselves to get early insights into clients’ wants and needs, so they can build long-lasting relationships. Churn will be a fundamental measure of success post-COVID. With data in place there are no technological reasons to restrict the analysis and insight needed to ensure AUM growth, and emotionally connect with clients for the long term.
20 December 2022
A Hybrid Servicing model is central to the future of wealth management. Its growing popularity has been driven by a more digitally adept population, and a younger demographic of HNW and UHNW investors impacting the current benchmarks for client servicing and accessibility to financial data.
3 min. read
22 November 2022
Is your firm well equipped to adapt to the growing trend of External Asset Managers? Across Europe, the rise of the EAM is a trend that couples huge potential gains but adds complexity for banks and wealth management firms. Without a CLM you could be missing out on a bridge to increased revenues and reduced costs.
3 min. read
10 October 2022
Discover the ten-fold benefits of an end-to-end CLM solution built by wealth management experts with our latest e-book.
3 min. read
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Wealth Dynamix is a global Client Lifecycle Management technology provider for the wealth and asset management industries.
At Wealth Dynamix, we believe a hybrid client servicing model offers the optimal solution – it is efficient, effective, and can support compliance.