Wealth Management Firms Falling Behind on Technology

Linda Santacruz, InvestorDaily

In a new report titled Sink or swim: Why wealth management can’t afford to miss the digital wave, PwC found that 69 per cent of high-net-worth individuals (HNWIs) are now using online and mobile banking, but only a quarter of advisers offer digital channels beyond email.

Further, 47 per cent of those who do not use robo-services said they would consider using them in the future.

“To survive in a digital world that is evolving at breakneck speed, wealth management firms urgently need to take action to demonstrate their value to existing and future clients – and to keep pace with the new waves of digital opportunities that are emerging,” the report states.

The rest of this article can be found at investordaily.com.au.