Wealth Management: Creating a future-ready front office
June 15, 2018
June 15, 2018
As Wealth Management firms reinvent themselves for the era of hybrid advice—a combination of human and digital capabilities—the workforce implications of these changes become an afterthought all too often.
The hybrid model, in addition to technology advancements in Artificial Intelligence (AI) and Machine Learning, forces firms to understand what could make their operating model scalable, more efficient and less costly. Simultaneously, they must analyze the impact of those changes on workforce issues such as talent acquisition and reskilling. Only when the entire picture is addressed are they truly creating a future-ready front office.
In this paper, we examine the impact of digital technologies on the front office workforce for the following functions:
Wealth Management firms need to position front office staff for success. Holistically considering these five functions is key to success and timing is everything. Leaving workforce issues as an afterthought puts your speed to implementation and results at risk.
47%
of front office staff want to see greater use of technology
40%
of front office staff want to see greater efficiency
40%
of front office staff want to see more automation
20%
of front office staff want to see an improved CRM system
Only when the entire picture is addressed are firms truly creating a future-ready front office.
With our comprehensive and integrated approach to addressing the demands of a new set of organizational capabilities, we could help your company grow at the speed of change. Creating an agile, adaptive workforce through training and reskilling in these areas—using the digital platform as an extension of the advisor—sets wealth management firms up to better meet their hybrid future. Contact us to learn more.