Finantix, the leading global provider of trusted technology to the wealth management, insurance, and banking industries, today launched the first part of a wealth management market survey, ‘New Client Acquisition: How can technology drive sales effectiveness in wealth management’.
In this first chapter, the research looks to identify the drivers for next-generation client acquisition in wealth management and what part technologies have to play in attracting and capturing the next generation of clients.
The research shows a clear shift by wealth managers towards a more digital approach to their client acquisition: 87% said they will increase digital lead generation in the next 24 months, with 54% making the digital route their top priority. When it comes to tier-one multi-market wealth managers, 75% are prioritising digital lead generation, compared to 33% of single-market firms.
In addition, the survey shows that as creating and sharing content to drive prospect engagement and lead acquisition is key for wealth managers, there is an increased need to provide technologies to help them build a single view of each client and prospect and drive personalised insights.
Commenting on the survey’s findings, Finantix co-founder and director Alessandro Tonchia said: “At Finantix we have always seen humans and technology working together. This is based on the common-sense observation that humans do not have infinite capacity. Digital is about supporting and accelerating the process, rather than taking people out of the equation. New tools can transform the way you generate prospects, profile potential clients and then manage that pipeline. This survey supports our view of how wealth management is looking in the future.”
The survey includes responses from executives with senior-level responsibility for marketing and business development based on the major wealth management hubs of Europe, the US and Asia-Pacific.
Future reports in the series will look at how digital technology could work to continuously engage clients for leading wealth managers and what will be wealth managers’ digital channel priorities as they compete for client reach, among other topics.