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The Futurewealth Report 2012-2013

Helpful Investment Technologies

 February, 2013
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Abstract:

In this third paper of the 2012/2013 Futurewealth series, we explore what constitutes “helpful” investment technology in the eyes of the Futurewealthy. More specifically, we ask what more can wealth managers do to help those who are on the fast track to wealth creation to manage their affairs more efficiently and become the partner of choice to support their financial decisions.
We also look at the tools the Futurewealthy rely on most to engage with firms throughout the investment process; we ask how wealth managers are doing when it comes to delivering highquality investment technology; and we explore the information and devices the Futurewealthy use to manage their money easier.
What we find is a far cry from a ringing endorsement. While wealth management firms, in general, are not doing a bad job, per se, they are not doing a good job either. It seems much of their technology effort goes on executing and reporting back to clients, but this is at the expense of drawing clients into the investment process early on through technology channels. In other words, the technology may work well mechanically, but fails to connect at a personal level.
As with the two previous papers in this series, the findings are based on the views of 3,477 of the world’s high-net-worth population with an average worth of USD1.9 million. In the earlier papers, we found this group of wealthy individuals are highly digitally adept. It therefore comes as no surprise to find their expectations are equally high with respect to investment technology.

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