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Top-10 Trends in Wealth Management 2019

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In light of BigTech’s potential entry into wealth management, it is critical for established firms to anticipate evolving customer preferences and demands to stay competitive. Leveraging deep customer insights offers a competitive edge when it comes to designing products and services. Artificial intelligence (AI) is becoming an increasingly useful tool in the development of Intelligent Solutions for both front- and back-end wealth management operations, which can improve customer engagement. In pursuit of new revenue streams, wealth firms are partnering with third-party developers and FinTechs to create open API-based plug-and-play services. Data-driven compliance will help to ensure regulatory risk management while also driving firm goals, profitability, and reputation.

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Top-10 Trends in Wealth Management 2019

  1. 1. $$ Top-10 Trends for Wealth Management 2019 December, 2018
  2. 2. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 2 Analyze Unstructured Data Identify Biases in Investment Decisions Increase Returns on Investment Source: Capgemini Financial Services Analysis, 2018 Adoption of Debiasing Techniques Will Improve Investment Decisions Machine learning can enable fund managers to identify cognitive biases and suggest mitigating measures. Increase Customer Retention Drive Usage of AI And ML in Data Analytics
  3. 3. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 3 Reduced AttritionIncreased Customer Loyalty Wealth management firms need to leverage BigTech approaches to get the most out of customer data and to refine offerings to align with evolving customer demands. Developing A BigTech Approach Is Key to Maximizing Future Return Source: Capgemini Financial Services Analysis, 2018 Personalized OfferingsNew Revenue Streams
  4. 4. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 4 Wealth Management Firms to Adopt Agile Distribution Models to Serve Evolving HNWI Needs Agile Distribution Models Service Orientation Customer Centricity Changing Demographics Source: Capgemini Financial Services Analysis, 2018 Adoption of agile distribution models to make wealth offerings more responsive to customer needs will become a norm in the future.
  5. 5. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 5 AR And VR Will Spur Pro-Investment Behavior Among Millennials and Drive New Customer Acquisition Visualizing Future States Better Dashboards Returns and Consequences of Investment Decisions Improved Investment Decision Making Client Preference Assessment Training New Advisors Source: Capgemini Financial Services Analysis, 2018
  6. 6. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 6 KYC and Compliance Reporting Liquidity Risk Management Data Security Fund Governance RegTechs Will Reduce Wealth Management Compliance Costs Source: Capgemini Financial Services Analysis, 2018
  7. 7. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 7 Cross Sell Products and Services Enable Better Risk Profiling Customize Offerings Increase Transparency in Operations Internet of Things (IoT) and big data will allow wealth management firms to identify new ways to use client data and improve offerings. IoT and Big Data Will Enable Automated Portfolio Management Source: Capgemini Financial Services Analysis, 2018
  8. 8. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 8 Alignment of Investments & Business Requirements Monitor Results & Re-Assess Strategy Continuous Assessment Firms are Reassessing Their Technology Investments to Maximize Returns Source: Capgemini Financial Services Analysis, 2018 Collaboration & Collective Investments Accelerator Programs
  9. 9. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 9 Ease out Cost and Resource Pressure In the face of cost, resource and regulatory pressures, wealth managers must turn to technology to enable new service delivery models to delight, retain and acquire customers. Enable Supply of Digital Products Virtual Tools Such as Smart Assistants and Whispering Agents Will Enable Customized Service Delivery Models Source: Capgemini Financial Services Analysis, 2018 Manage Evolving Regulatory Environment Tap into Data for Personalized Services
  10. 10. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 10 Data and Technology to Be Used to Streamline New Client and Advisor Onboarding Limited Integration for Collaboration Manual Data Entry No Automation of Tasks Lack of Visibility into Processes Source: Capgemini Financial Services Analysis, 2018 No Consolidated Data Repository
  11. 11. Wealth Management Trends 2019| December 2018 © 2018 Capgemini. All rights reserved. 11 Access to Technology Access to New Ideas Faster Go-to-market Wealth Management Firms to Increase Adoption of Open APIs for New Revenue Streams Source: Capgemini Financial Services Analysis, 2018 Better Data Mining
  12. 12. A global leader in consulting, technology services and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. It is a multicultural company of 200,000 team members in over 40 countries. The Group reported 2017 global revenues of EUR 12.8 billion. About Capgemini Learn more about us at www.capgemini.com This message contains information that may be privileged or confidential and is the property of the Capgemini Group. Copyright © 2018 Capgemini. All rights reserved. People matter, results count.

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