Unlock Efficiency

Unlock Efficiency

The right technology allows advisers to focus on what matters – their clients

Look no further than today’s headlines and see the tremendous impact that technology is having on virtually every industry. The wealth management industry is no different – with major shifts over the past few years due to the adoption of new technology tools coupled with increased regulatory oversight and AI expansion. 
As such wealth advisers are facing industry wide challenges that can either be helped or hindered by technology, depending on the approach. But to effectively compete and continue to provide exceptional service to their clients, firms need to identify and implement the right technology solutions to help them maximise efficiency while freeing up time to grow their business.

Challenge 1: Productivity

According to Capgemini, it is estimated that advisers dedicate 67% of their time on non-revenue generating, non-client facing, activity. Much of this time is spent gathering data and information, rekeying data, correcting mistakes, and signing in and out of various applications. The same study by Capgemini found that just 9% of adviser time is spent on client interactions. With all this time spent on tedious administrative tasks at the expense of time spent with clients, it’s no wonder adviser value is being questioned. Advisers struggle to find the hours in a day to focus on higher value work and interactions that allow them to dedicate their efforts to realising their client’s personalised goals. The right technology tools can automate much of the day to day – streamlining processes and functions that reduce both time and errors – and do so at scale. With the right technology tools, such as InvestCloud’s Digital Wealth offering, advisers can bolster essential productivity and thus free up time for value-adding tasks that will grow and retain clients in this increasingly competitive environment.

Challenge 2: Data Overload

Today both advisers and their clients have more access to information than ever before. However, when advisers are using disparate systems and multiple sources of information, they are also then dealing with disparate data. If there is no single source of truth, for advisers or clients, data is hard to find, hard to action and often hard to trust. This is a challenge that isn’t going to resolve itself, so the question becomes how you can use all this data to your advantage and improve your offering. 

The first step in tackling the data overload is to use technology to consolidate inputs from various structured and unstructured sources into one centralised location – ensuring security, accuracy and usability. This is critical not only for adviser productivity, but to meet the existential threat posed by a regulator who demands a single source of data as and when they require it.

With data consolidated and actionable, the right technology can then be deployed to help harness the power of this information, uncovering valuable insights and trends that can shape investment strategies. When these data resources are paired with user-friendly digital platforms and targeted content, advisers can drastically improve client engagement driving retention and growth of their accounts.

Challenge 3: Personalisation at Scale

It’s no surprise that client’s today have higher expectations – there are more advisory options available to them, more data resources to help educate and empower them, and more technology tools to individualise investment options. To effectively compete in this environment, advisers must be able to go above and beyond the mass available products and truly demonstrate their value and justify their expense. One way to ensure visible value is to offer true personalisation to each client. But with increasing books of business, how can advisers offer meaningful personalisation at scale? The right technology tools can automate, customise and replicate at scale the specific details that allow for true personalisation. With the right data-driven tools, advisers can offer more personalised portfolios tailored to clients' unique goals and risk tolerance and do so for all their clients across the wealth continuum. These technology tools can be harnessed for real-time monitoring and reporting, helping advisers ensure portfolios stay on track and do so over time. These tools, together with the power of behavioural science, empower advisers to help guide each of their clients to stay engaged in their financial journey. 

InvestCloud’s Digital Wealth platform is addressing each of these challenges head on. With a centralised single platform, InvestCloud allows advisers to center their day with one log-in for multi-functional efficiency. Via our Digital Warehouse, InvestCloud integrates disparate global data sources – overlaying existing data sources, consolidating them into one place. It streamlines adviser workflows, and ultimately frees up more time for delivering exceptional value for their clients, personalised to custom experiences at scale. We believe in the power of technology to revolutionise the art of wealth management, so that advisers can spend more time on the high value work that retains and grows their clients. Learn more about how InvestCloud is revolutionising wealth management. 



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Michael Basi

Head of Wealth Proposition EMEA

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