The front office is by far the greatest expense for wealth management firms. According to a recent study the average annual cost of front office professionals is approaching £200k. Given that client experience remains the differentiator in a competitive space, this is justifiable—but pressure on cost-income ratios has never been greater. In an ideal world productivity would improve at a faster rate than costs, thereby growing a wealth manager’s profit margin, so this has become a core focus for empowering the ‘Future Adviser’.
Pre-COVID-19 there were broadly two camps within wealth management…(download the report extract to read on)
This is an extract from the recently published report by The Wealth Mosaic titled ‘The UK Wealth Management Technology Landscape Report 2020’ (download the full report here).
18 September 2023
At the recent WealthTech Live event by The Wealth Mosaic in Singapore, Darell Miller, Managing Director – APAC, at Wealth Dynamix, talked about the need to scale profitably without costs becoming unmanageable.
5 min. read
13 September 2023
What’s driving people away from traditional wealth managers towards digital-first firms? Industry experts offer their strategic solutions.
10 min. read
29 August 2023
Catering for the needs and preferences of the next generation who are seeking ready access to advice and their portfolio via a seamless experience will necessitate the support of technology.
3 min. read
Subscribe to Wealth Dynamix Newsletter to receive the best news, insights and thought leadership pieces about Client Lifecycle Management.
Wealth Dynamix is a global Client Lifecycle Management technology provider for the wealth and asset management industries.