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Digital strategy for wealth managers: The path to innovation

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  • Lupato, Giulia

Abstract

Technology is becoming part of everyday life, including the way we interact with financial services. With customers becoming more and more accustomed to the availability of digital services, these are becoming not just a ‘nice to have’, but a ‘must have’ for businesses who want to future-proof their activities. The wealth management sector is no exception to this general trend. However, traditional wealth managers still seem reluctant to embrace digital technology in its many facets. Why is that, and what is available to wealth managers who do decide to innovate? This paper analyses the reasons wealth managers should adopt a digital strategy, and offers an outline of what support initiatives are available, as well as an overview into present and future technologies that are or will be available to wealth managers.

Suggested Citation

  • Lupato, Giulia, 2018. "Digital strategy for wealth managers: The path to innovation," Journal of Digital Banking, Henry Stewart Publications, vol. 2(3), pages 232-248, February.
    • Handle: RePEc:aza:jdb000:y:2018:v:2:i:3:p:232-248
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    More about this item

    Keywords

    digital strategy; wealth management; financial services; innovation; financial technology; FinTech; RegTech; Automated advice; FCA sandbox; FCA advice unit;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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