The Changing World of Wealth Management

Dunstan Thomas Wealth Management Technology Trends Report

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The Changing World of Wealth Management

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During the early weeks of ‘Peak Lockdown’ from April we began a detailed survey of investment advisory firms serving High Net Worth Individuals (HNWIs).

We chose to gather a wide cross section of views of senior IT decision-makers and C-suite executives responsible for innovation and growth inside asset managers, wealth managers, banks, building societies, DFMs and platforms.

Nearly a third of the findings from our research written up in our ‘Changing World of Wealth Management’ report, are linked to events of the day. For example, the 26 page report contains average reductions in HNWIs’ investment portfolio values during the peak of the pandemic and average falls in the value of client portfolios during Quarter 2, 2020.

We also have some detail on firms’ experience of lockdown, including the extent of furloughing of advisers during ‘peak lockdown’. We also looked at the consensus around investment strategies being deployed to limit losses as markets around the world nose-dived.

Further, we asked about areas of strategic focus within the next three years and explored ‘mega trend’ drivers for change including preparation for the largest intergenerational wealth transfer of all time; the big shift from Defined Benefit to Defined Contribution pension savings dominance in decumulation; and ESG-rated investment selection.

Then, closer to home, we asked respondents to explain which technology areas they were most focused on improving or introducing in the next 12 months. It is clear investment advisory businesses’ Digital Transformation projects are now well underway. In the light of this, we were able to gather some granular details about where their IT spend is being focused over the next 12 months.

We hope you find both the higher level findings and the details of firms’ technology deployment prioritisations as interesting and insightful as we did. And please add yourself to our database if you would like to receive future Wealth Management Technology Trends reports.

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