Many clients now want to receive the same level of financial advice customization that once was exclusively reserved for institutional and high net-worth investors. To keep up with these expectations, firms need to give advisors a scalable way to understand and anticipate client needs and provide a white-glove experience—regardless of assets under management (AUM).
To meet client needs, firms should leverage analytical capabilities to uncover and predict “moments that matter.” These moments are critical life events and personal intentions, and they can make or break a client’s interaction with a brand. An advisor should play a role in these moments of need.
Across the client lifecycle, from client acquisition to growth and sustainment, digital technology allows advisors to deliver custom experiences and differentiated services by first understanding and predicting key triggers for engaging clients. For firms, this requires the flexible execution of a robust digital and personal engagement model. For the client, this provides an affirmation that their advisor knows, values and cares about them.
Firms may be leaving diamonds on the floor by not having a scalable way to identify and predict clients who have an appetite for advice. To help firms realize a more holistic advice offering, we explore some short- and medium-term solutions in our report: