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Articles by Scott Reddel
Wealth Management Research Uncovers 3 Trends That Will Shape 2024
The key to business success - especially in a hyper-competitive operating environment driven by accelerating rates of change like ours - relies on strategies that are built firmly around and stay very close to your clients. Changing investment options, service delivery systems, client engagement tools, and enhancements to holistic advice are altering the way consumers look at financial services and their expectations of wealth management advisors and firms.
Wealth Management Research Uncovers Three Trends That Will Shape 2024
[The key to business success — especially in a hyper-competitive operating environment driven by accelerating rates of change like ours — relies on strategies that are built firmly around and stay very close to your clients. Changing investment options, service delivery systems, client engagement tools, and enhancements to holistic advice are altering the way consumers look at financial services and their expectations of wealth management advisors and firms.
How AI could elevate financial advisor performance
As a firm and individually, we have been actively studying the use of artificial intelligence (AI) in wealth management—and more specifically how investment advice generated through AI is sought out and applied—for the past three years in its many different applications across the industry. In our view, the wealth management industry is built and will continue to evolve around human relationships, clients’ personal values and their most meaningful choices.
How to Overcome Advisor Resistance to AI-Generated Insights
By Scott Reddel and Keri Smith, Accenture March 3, 2022 3:41 pm ET Today’s clients increasingly expect more personalized financial advice and offerings, including products that cut across wealth, insurance, and banking and that align with their social values. But advisors appear to be struggling to meet these expectations. In a recent survey conducted by our firm, more than half the investors we canvassed said that the financial advice they receive from their advisor was too generic.
Three Ways To Prepare For Big Tech's Entry Into Wealth Management
It’s no secret that Big Tech companies are positioning themselves to shake up the growing wealth management market. Having already made its mark in payments, credit cards and lending, wealth management—particularly the mass affluent segment—is likely to be the next frontier of disruption. The proliferation of new platforms is reducing barriers to entry, allowing firms to launch their own investment app or broker-dealer in a matter of days.
Three steps to manage different wealth management clients in the future
There will be no going back to the world as we knew it pre-COVID-19. The pandemic has only accelerated the digital migration that was taking place across societies, requiring wealth managers to shorten their own digital transformations from ten years to five. The future could be a hybrid of regular physical and digital interactions with clients, and the speed at which wealth managers should adapt to it has just doubled. Massive outflows of wealth… Digital transformation is a big ask.
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