The past 18 months have shown us a burst of consolidation in the wealth management space in North America, and we expect even more this year as firms face increasing pressure to scale. And while many firms have clearly defined the key strategic outcomes they want to achieve with their M&A activity, I believe that…
There will be no going back to the world as we knew it pre-COVID-19. The pandemic has only accelerated the digital migration that was taking place across societies, requiring wealth managers to shorten their own digital transformations from ten years to five. The future could be a hybrid of regular physical and digital interactions with…
Recently, I had the pleasure of speaking with John Manganaro, managing editor of PLANADVISER, at their webinar on artificial intelligence and financial advice. We talked about why Accenture recently conducted a study on the state of AI in wealth management, what surprised me from the survey results and what were some of the eye-opening numbers…
In my last blog, I looked at two Accenture Tech Vision 2021 trends that I believe will shape the future technology foundations of the asset management industry. Today, I investigate two additional trends that could have profound implications for the asset management workforce: “I, Technologist” and “Anywhere, Everywhere.” ‘I, Technologist’—The democratization of technology Powerful technology…
Few industries are experiencing changes in technology advancement as dramatically as investment management. No longer is the impact limited to sophisticated functions such as investment research within the front office—nearly all aspects of asset management are being disrupted. Even asset classes that many expected to remain analog are being digitized at an unprecedented rate. A…
Traditional private banks and wealth managers often struggle in adapting their offerings to appeal to younger generations of clients. As a result, they are at risk of losing those clients to competitors that have more compelling proposals (e.g. in terms of social responsibility, client centricity or flexibility) and they might be missing valuable opportunities to…
