Wealth management digital transformation is a hot topic right now - and the steps that firms need to take to achieve successful digital transformation may come as a surprise.
According to the experts, asset and wealth management firms looking to accelerate their digital transformation should head back to the basics, focus on culture, leadership, and winning hearts and minds within the business, rather than concentrating solely on technology - a finding that many industry leaders are likely to find surprising, given the prevalence of tech in the digital age.
Research among marketers in the asset and wealth management (AWM) sector, conducted by London Research, and commissioned by Paragon DCX, identified 6 key steps asset management companies can take to prepare for the post-digital future.
These are spelt out in our report – The World’s Gone Digital; Why Haven’t You? - which examines the barriers to, and opportunities for, digital transformation in asset and wealth management, as well as the abundance of opportunities for future potential.
As one interviewee, Kerry Haxby-Dean, executive director / head of investment trust marketing at JP Morgan Asset Management, put it:
“Customers want data, information, and content at all times and that’s what we need to provide. As the technology trends and preferences change, we must change too.”