Of the $10 billion projected to be spent annually in upcoming years on information technology dedicated to the wealth management silo, much of it will be focused on technology that allows advisors to better engage with their clients and provide the level of tailored and on demand services that clients have now come to expect. At our upcoming CEB TowerGroup Financial Services Conference, 23-25 May, join Peter Delano and Darrin Courtney as they explore the importance of technology investment in the following sessions:
Retaining top-tier advisors and their assets:
Portfolio management technology and capabilities to support a “hybrid” model
May 25, 9:50 AM
Traditional wealth management firms have lost over 10,000 advisors in the last decade, while the Registered Investment Advisor channel continues to grow. The vast majority of financial advisors expect a continued migration to this fee based model, yet these same advisors have no intention of abandoning all of their commission based business. In order to support and retain advisors, wealth management firms must adopt a hybrid model. In order to manage the transition to a hybrid model, firms must provide a portfolio management system that is flexible and robust enough to answer the demands of advisors held to both suitability and fiduciary standards, serving a broad segment of clients with a variety of preferences and needs.
This session will focus on how wealth management firms can stem the outflow of clients, advisors, and assets by creating a platform that supports advisor and client needs alike. Central to the session will be an advanced look at our latest anatomy for selecting a best in class portfolio management system. In addition, both technology vendors and wealth management firms alike will receive recommendations on next steps to best support this emerging dominant model.
Achieving Business Outcomes through Social Networking Relationship Management
May 23, 3:30 PM
Social networking strategies at wealth management firms typically focus on monitoring sentiment and pushing content to enhance brand recognition. However, the unique characteristics of social sites give firms and their advisors the ability to understand what is happening in the lives of their clients and provide a personalized response via social networking or another channel.
This session will start with our recent data on the use of social networking by wealth management advisors and their clients to think differently about managing client relationships through this extensive communications channel. We will proceed to a panel discussion where industry experts from wealth management organizations will share their approaches to successful social networking relationship management without getting mired in compliance oversight.
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