No industry can escape digital’s disruption, especially not wealth and asset management. Today’s clients expect a whole new kind of experience that’s more informed, more personalized, more transparent, and they want it more quickly than ever before.
A new group of investors—one defined by behaviors rather than traditional demographics—is emerging. The behaviors of this digital generation, or Gen D, will increasingly influence the relationships investors have with advisors. The digital generation represents a significant market opportunity for financial services firms, but few organizations possess a strong understanding of this emerging segment.
Firms that rise to the digital challenge capitalize on industry insights, transform their businesses from front to back and strive for operational excellence—and many won’t go at it alone. That’s where Accenture comes in. We help wealth and asset managers drive sales, reduce costs and manage risks by working with them in four key areas:
Sales and Distribution: Improving top-line growth is possible by improving the client experience and developing advisory services. We work with firms to adapt and modernize advisor desktop tools, address advisor succession challenges and build the future advisor model. We also help advisors build their capabilities for meeting clients’ needs, including helping firms attract, engage and retain Gen D investors.
Servicing and Solutions: Regulatory and cost pressures are a constant challenge in the industry. Our tailored offerings in data management, platform servicing, replacement and renewal, and back office transformation help firms respond quickly and effectively.
Asset Management: Strategic, risk, regulatory, cost and operating model challenges are not going away. That’s why we work with firms to optimize their back office, automate processes and upgrade their clearing functions. The result? Measured improvements in areas ranging from fund accounting and data management to portfolio management, risk management and finance.
Wealth Management Platforms. We work with private banks to implement their distribution and technology initiatives, including Temenos and Avaloq. We also assist with operating model reviews, outsource asset services and IT transformations.
Accenture is uniquely positioned to provide differentiated services to our clients. Our global footprint in more than 120 countries enables us to scale our services rapidly and help our clients achieve high performance—this is why eight of the top 10 global wealth managers and eight of the top 10 global asset managers turn to Accenture for help.
We help firms improve sales and distribution channels, spur growth through the creation and delivery of more innovative products, and enhance operational effectiveness across technology platforms and back-offices.
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In a rapidly evolving wealth management industry, firms are searching high and low for ways to address new challenges, all the while, the answer to improving profitability could be closer than they first imagined. A critical element of success in advisor-led wealth is the advisor himself/herself, and improving advisor productivity represents a significant opportunity for growth in this environment.
Watch as Accenture’s Kendra Thompson, North America Lead, Accenture Wealth Management Services, shares some of the key ways firms can increase advisor productivity.
This digital generation expects advisory firms to provide tailored advice, where and when they want it most. But that’s not all that is changing. Advisor needs are also evolving. They no longer have the tools they need to meet clients’ expectations.
Watch this podcast to hear Marc McCollum discuss what firms should invest in to deliver a superior client experience.