Research & Thoughts

Submissions for this form are closed.

Mobile in Wealth Management

Time to start taking the tablets: There’s a revolution happening in wealth management. Are you ready for it?

Mobile technology will revolutionise the dynamics of the advisor-client relationship in Wealth Management. Advisors who lack the right technology will miss out. Their clients will go elsewhere.

Going mobile, to reach the upwardly mobile
Is your advisor field force equipped to reach out to their ‘Generation Y’ customers? These are the High Net Worth individuals who are flocking to use tablet devices such as Apple’s iPad. (Around 60 million people globally are expected to own a tablet by the end of 2011.)

Engaging effectively with this profile of customer – agile, internet-savvy and used to doing business 24/7 – now demands more than SMS updates! Tablet-based communication is elegant, intuitive and rich in personalised content. It also drives up opportunities for cross- and up-selling, based on a more personal and involving advisor/customer relationship.

Not surprisingly, financial institutions are taking a keen interest in the most effective ways to exploit tablet-based opportunities. (Tower Group states that “every wealth manager provider will seek to support and/or supply its advisers with tablet computers” by the end of 2011.) But with little empirical data available on the operational challenges of embracing the Tablet Age, how do you explore the possibilities effectively and productively?

An excellent first step is to read Capco’s latest paper, Mobile in Wealth Management. As well as setting out the background opportunities and business and technology drivers, it offers a clear route to proof of concept for tablet-based communication. Capco can work with forward looking institutions who want to exploit a major new opportunity. Key areas of support include:

  • Design and build of defined functionality, scope and security (settings for key service aspects – how often, in what manner, how secure).
  • Set-up and implementation of tablet (iPad) infrastructure.
  • Development and implementation of marketing and communication strategy.
  • Appointment of onsite training and development coordinator/sponsor