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Wealth management is changing.

The great wealth transfer is underway as Baby Boomers transfer their life savings over to younger generations.

New customers bring different expectations and new behaviors. Businesses will require new digital tools, strategies and experiences to stay relevant and drive growth in this new demographic.

And while COVID-19 has made investors reevaluate their priorities and change their attitude towards risk, it has also accelerated the shift to digital. Investors of all ages now do so through a mobile app, and they demand a frictionless, intuitive digital experience.

 

A global perspective

We partnered with ThoughtLab to survey 500 investment providers from 15 countries and 2,325 investors varying by wealth level, age, gender, and location.

We asked the investment firms how they’re adapting their strategies, products and business models to stay relevant. And we asked the investors how well they’re doing.

“The most important advice for the wealth management industry is to listen to their clients. What’s worked in the past will not necessarily work in the future. Those institutions that work to understand their clients’ personas and their needs, and design an infrastructure that can react to them, will be the ones that win.”
Dave Donovan, Financial Services Practice Leader, North America, Publicis Sapient
A snapshot of our findings
  • 89% of investors prefer to invest using a mobile app

    49% of investors view a simple, intuitive digital experience as one of the top criteria for evaluating providers…

    …but only 18% are very satisfied with the digital experience offered by their primary providers

    44% of investors are planning on moving their funds in the next two years

  • Investors are underestimating the future dominance of mobile apps…

    …yet 46% of millennials prefer face-to-face meetings

    and 40% prefer phone calls, highlighting the importance of creating a seamless omnichannel experience

Get the full report

Get the full survey and become a Wealth 4.0 evangelist. Share the data in your own materials, along with our expert analysis and key recommendations on how investment providers need to adapt.

Unique Perspectives on Wealth Management

How can you pair tradition with tomorrow?
Andrew Borys
Andrew Borys, Marketing Lead Financial Services, North America