Published on : Dec 26, 2017
ALBANY, New York, December 26, 2017: ResearchMoz.us has announced the addition of a report, titled “Technology in Wealth Management: Drivers for Adoption and Future Trends.” The report on the growth dynamics and scope of technology in wealth management industry provides a comprehensive overview of current and emerging technology trends in the wealth management and the larger financial services industry. The study offers in-depth insight into key drivers and challenges affecting the adoption of digital trends and the regional and global factors boosting the adoption.
The report evaluates how technology providers offer solutions to meet varies client needs and highlights changing preference of HNW and prime consumer segments. It further takes a look at emerging models in robo-advice services and assesses the impact of disruptive technologies such as blockchain and big data analytics. Recent advancements in software and tools that can change the operational efficiency are also covered in the analysis. The study also identifies imminent investment pockets for IT vendors.
The growing significance of technology among wealth managers’ agenda and the marked emergence of robo-advisors are key factors driving the market. The widely changing investor demographics has led to new approaches to client segmentation and bodes well for the market. The decline in profit margins and the intensifying pressures on cost-savings are key factors stimulating the demand for technologies for achieving the operational efficiency.
In addition, the vastly rising internal needs have motivated organizations adopt various technologies to achieve their motives. The advent of products and offering wherein technology plays a key role in wealth management apart with minimal human intervention is a notable factor boosting the market.
Get SAMPLE REPORT PDF: https://www.researchmoz.us/enquiry.php?type=S&repid=1362797
A growing number of HNW investors increasingly benefit from digital platforms in wealth management, which bodes well for the market. The surge in wealth among millennials has led to the emergence of a new set of client with diverse needs. The adoption of financial advisors has enabled them to address the needs of new clientele while serving the existing the customer base.
The advent of hybrid advice models and its vast popularity owing to the advanced functionalities emanating from human and digital technology capabilities are notable factors catalyzing the growth of the market. The change in focus on players from back end to front end is a significant factor that bodes well for the future growth of the market. The growing use of digital workflow tools by relationship managers is accentuating the growth of the market. The marked demand for technology among wealth managers focused on client acquisition bodes well for the market.
The advent of big data analytics and the soaring popularity of blockchain technologies in financial circles in developed regions are prominent factors driving the market. Apart from wealth management, these technologies are also being tested in other domains of financial services. Technology is proving to be promising for other branches as well.
In recent years, the market has seen some notable partnerships and collaborations between incumbent players and financial technology companies in numerous developing and develops countries. Several leading IT vendors are increasingly focusing on big wealth management organization. This is expected to unlock exciting avenues for market players in the coming years.
The gap in investment gap in the wealth management industry in emerging economies and several players are looking for tapping the opportunities, in a move to gain a competitive edge over others. The inroads made by artificial intelligence in the wealth management industry are a welcome development in the market. A number of wealth managers are collaborating with prominent IT vendors to develop innovative offerings, which is expected to catalyze the growth of the market.
To order report Call USA – Canada Toll Free: 866-997-4948 or send an email on email@example.com