This document discusses wealth management and what clients want. It notes that traditional wealth management is no longer profitable and does not meet evolving client needs. Clients now want a unified view of their finances, sophisticated advisors, and transparency. They prefer a needs-based approach rather than focusing on products. Technology can help bridge gaps by providing a holistic view of clients and their needs over time.

1. Wealth Management - What clients want
Kalpesh Desai
CEO, Agile Financial Technologies
kalpesh.desai@agile-ft.com YOUR LOGO
www.agile-ft.com
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2. Agenda
Wealth Management Today
The Changing Landscape – What clients want
Evolving A Needs Based Approach To Wealth
Management
Technology As An Enabler
About Agile Financial Technologies
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3. Wealth Management - The Effect
• The days of low volatility and high margins are over
• Many wealth managers are only marginally profitable
• Assets and infrastructure of the parent institution subsidize the costs of the wealth
management arm
High Costs • Profitability driven by new client and asset acquisition, which relies upon an
unsustainable cost structure
• Wealth Management associated typically with HNWI – who drive hard bargains & are a
demand for extensive and expensive service levels
• Marketing to clients with too much or too little wealth
• Products and services offered not aligned to the behavior of individual client resulting in
Clients failure to target services that fit the goals of their clients
• Lack of attention to a new generation of mass affluents
• Unavailability of a consolidated perspective and client profiling across an institution‟s
various arms (retail banks, brokerage businesses, and insurance operations) and
Inability to concerted lead generation mechanism
cross-sell
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4. Wealth Management – The Cause
Inability to align
products and
services with
customer profitability
Islands of
information created People and
by the deployment of relationship
point solutions and dependent
disparate IT processes
solutions
Poor visibility of Past revenue growth
economic Business led to increased fixed
performance and Under- costs of acquiring
drivers by customer performance and serving new
segments customers.
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5. Agenda
Wealth Management Today
The Changing Landscape – What clients want
Evolving A Needs Based Approach To Wealth
Management
Technology As An Enabler
About Agile Financial Technologies
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6. Changing Client Landscape
Plan
Ultra Build
Build &
Manage
HNWI Legacy
Wealth
Mega Net Worth Protect
Wealth
Customers
Advice
HNW Customers
Mass Affluent Customers
Personal/Premier Banking Customers
Volume of potential Clients
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7. Channels Servicing The Landscape
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8. What clients want
How clients desire to be
Traditional process of servicing
serviced
• Brokerage services (product • Global outlook to the
experts and financial advisors) investment approach
• Investment Management • Research on international
services (relationship-based development
approach to financial products) • Transparency and visibility on
• Wealth Planning (personal portfolio performance and risk
financial planner) mitigation
• Support and resources and
tracking of social returns on
their philanthropic and
charitable pursuits
• Choice of sectors,
geographies, community
focused, socially responsible
investment screening
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9. Hence
“I dislike having too
many experts involved.” “We work with many professionals –but do
not have one person who looks at all
scenarios such as selling real estate to
finance retirement, options for selling the
business, etc. It seems like we have the
ideas and the professionals fill in numbers.”
“…(strategic wealth) would
be about reviewing all of my
assets together. My financial “I have found that I
planner is only concerned come away with a
with what he has under his view that I know
direct management.” more than they do.”
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10. What clients want
 Prefer sophisticated advisors who can serve the entire spectrum of
‘net worth’ and understand their complex financial needs
 Sophisticated wealth management services and strategic wealth
advice
 Evidence of strong governance and risk management practices
 Ability to see a 360 degree perspective of their interaction with you –
when they want to view it
 Transparency and timely reporting
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11. Agenda
Wealth Management Today
The Changing Landscape – What clients want
Evolving A Needs Based Approach To Wealth
Management
Technology As An Enabler
About Agile Financial Technologies
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12. The Services Expectation Gap
•Automate services; evolve technology
•Outsource non-core functions
High •Identify and structure fees based on “needs-based” approach
Service
Needs
Level Client NEEDS
Service requirement
GAP
Low Profitable person-to-person
servicing capability
0 Mass Emerging Mass Affluent Emerging High Net
Market Affluent Wealthy Worth
Investable Asset Level
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13. Bridging the gap
• AUM • Based on Client Lifetime
• Client interests, Value
frequency of firm • Analyze client needs
interaction, and create tailored
communication offerings
preferences and • Build additional
financial behavioral capabilities or find
attributes. partners to service the
gap
Position
Customer
Products and
Segmentation
Services
Stay Current Service
with Client Delivery
Needs Model
• Continuously monitor • Determine a service
and update client approach
profiles and behavior • Deliver service through
patterns multiple channels and
• Engage research and practice models.
surveys to question
internal assumptions
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14. Bridging The Gap
Catch Them And Watch
Young Them Grow
• Identify, attract
Service the Deliver • Translate the
and servicie entire strategic client‟s attitudes,
upcoming spectrum of wealth advice; lifestyles,
affluents destined „net worth‟ not “inventory” preferences, and
for high net worth goals into service
offerings
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15. Evolving A Client Centric Approach
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16. Agenda
Wealth Management Today
The Changing Landscape – What clients want
Evolving A Needs Based Approach To Wealth
Management
Technology As An Enabler
About Agile Financial Technologies
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17. Aligning Business
Business and Organizational Operational
customer strategy design effectiveness
• Identify and • Break out of silos • Build, buy or
migrate clients to transition from partner to offer
from banking a product-centric more complete
services to wealth to a customer- asset
management centric management,
services organization retirement &
• Position advisory • Integrate different estate planning
capabilities and components of and protection
best-of-breed offering to provide capabilities
investment a single point of • Leverage physical
products contact for clients footprint
• Assess viability of • Ensure rigorous
providing a wealth adoption of “know
management your customer
offering to the rules”
mass affluent
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18. With I.T.
 Shift from islands of information to a holistic integrated system
 Deploy CRM to enable identification of potential wealth-
management clients and provide an integrated view of the customer
and information across all product groups
 Using technology as a platform for serving the mass affluent
 Improving information and data exchange to share information
across silos
- Integrating legacy and new systems
 Outsource non-core functions to service providers
- Investment Accounting
- Research
- Reconciliation and transcription
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19. Wealth Management Technology
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20. Agenda
Wealth Management Today
The Changing Landscape – What clients want
Evolving A Needs Based Approach To Wealth
Management
Technology As An Enabler
About Agile Financial Technologies
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21. About Us
Backed by Private Equity, Agile Financial Technology is a mid-sized Indian IT company focused on
providing products and services to the Investment Banking, Asset Management, Insurance and Capital
Market sectors
M&A Strategy led by a strong management team
100% buy-out of IT/ITES companies Management teams of underlying
Agile emerges as a vertically integrated
focused on the Financial Services & companies are inculcated into Agile‟s
mid-market player
Insurance Sector core team
Create economies of scale, efficiency and a powerful sales, support, and marketing process to leverage a
vertically integrated product & services offering
Consolidated revenues of US$ 30mn in FY08
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22. About Us
• Insurance • Managed Services
• General, Life, Broking, • Security (BCP/DRP)
• Bank Assurance Consulting
• Investment Bank/Fund • Strategic Resourcing
Houses • Enterprise Application
• Asset Management • Integration
• Investment & PMS •
• NBFC‟s/Banks
Technology
Products Services
BPO KPO
• Banking
• Loan, Payments,
Liabilities origination
processing • Fund Accounting Services
• Mutual Funds • IPO processing & Support
• Origination, KYC • Equity & Forex Research
• Insurance
• Claims processing, KYC
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23. Milestones
Our domestic BPO processes 7% of all retail applications & 27% of all new
credit card applications processed in India
The largest Mutual Fund in India (over 22 Bn$ AUM) uses our software
(iDEAL Funds
Our software processes 30% of India‟s Mutual Fund AUM
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24. Thank you
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