across all generations believe that technology is key to achieving their financial
goals and achieving an Intelligent Financial life. Respondents also expressed
a clear desire for a new digital + human experience, one that is a balanced
combination of human-centric help through trusted financial professionals,
with integrated technology engagement.
We anticipate a desire for more personalized attention, modern technology
experiences, and better communication will define the client engagement in
the coming years. The advisors and firms that can both retain and generate
new business will be those capable of meeting these new, generational
expectations.
Benefits of Personalization at Scale in Wealth Management
Personalization at scale in wealth management has several possible benefits:
1. It allows advisors and wealth managers to provide a higher level of
service to their clients. By tailoring investment solutions to individual client
needs and preferences, asset managers can offer a more personalized
investment experience, which can help to build stronger client relationships
and improve client retention.
2. Personalization at scale can help to reduce costs and improve efficiency.
By automating the investment process, asset managers can provide
personalized investment advice to many clients without requiring a
significant increase in resources.
3. Finally, personalization at scale can help asset managers to differentiate
themselves from their competitors by offering investment solutions that
meet the specific needs of individual clients.
And that's exactly what clients tell us they want. When asked in a recent survey
from Broadridge Financial Solutions what they like to see in communications
from their advisor, respondents preferred information that is individualized to
them.
44%
Comprehensive view
of their accounts
32%
Ideas for new
investment vehicles that
could work for them
29%
Personalized analysis
of investing habits
32%
Money saving tips
tailored for them
What Clients Want to Receive from Their Advisor
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