The wealth management industry is undergoing major transformations with the emergence of digital savvy millennials on the investment scene. This new generation of customers expect more value for the fee they pay, and want more control with real-time, personalized and instant access to information about their wealth, as well as predictive recommendations for the future. As fintechs swiftly take over the scene with innovative service offerings based on data-driven insights, major investment and asset management firms need to respond to the changing investor landscape.
Most major investment and asset management firms recognize that change is needed to effectively reach this new generation of investors. The truth is that they’re not acting as fast as they should. That is often because they don’t know how and is part of the reason why we’re seeing a boom in fintech companies, sprinting towards the digital future with new technology offerings focused on a data centered investment culture that relies much less on personal relationships. In fact, access to personal datasets is now the competitive catalyst for a new set of innovative service offerings, tailored to recent widows or young families who will need digital tools to manage accumulated wealth. This Point of View White Paper is a collaboration between Ness Digital Engineering, a company that designs and develops modern digital platforms for clients, and Moola, a fintech startup company focused on the future of wealth management that is making strides with propositions “tuned to the digital investment and lifestyle needs of the modern investor.”
Read the full whitepaper to learn how technology will make intergenerational wealth transfer more efficient.