The report titled "The Futurewealth Report: The Digital World of the Futurewealthy," has revealed that if the financial services professionals adopt the technology innovations that are used by the wealthy, they will be able to engage and connect more effectively with these clients.
Around 56% of those surveyed, believe that their engagement with the internet and digital technology has contributed to their ability to create wealth and they believe that this influence will be of greater value in the future.
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On being queried about the internet and digital technology contributing to their success five years down the road, 77% replied in the affirmative.
"With the rise of a tech-savvy wealthy segment, financial intermediaries, especially wealth management firms, need to adjust their business models and value propositions based on a stronger understanding of their segments’ technology habits and desires, not the size of their wallets," said Al Chiaradonna, Senior Vice President of SEI’s Global Wealth Services.
Regarding the preferences for digital-based communication and networking tools for the next generation of wealthy, 64% believed that collaborating with others online will be important to their continued wealth creation, with a majority of them already having a presence on multiple social media platforms geared towards networking and connecting with others.
"This study has given us a better understanding of how wealthy individuals are increasingly using all of the latest tech innovations to control, grow, and monitor their wealth, and there is nothing to suggest this trend will slow as we move into the future," said Kevin Crowe, Head of Solutions, SEI Advisor Network.
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By GlobalDataSEI had surveyed 3,477 respondents from across the world having an average US$1.9 million in assets for the report.
