Workflow automation is redefining the wealth management industry. Automated client onboarding, hybrid digital services and Big Data are just a few innovations that are transforming the way advisors serve their clients.

There will certainly be a more comprehensive automation in the process of wealth planning and in the wealth management cycle over time. However, in such trust-based relationships, the human interface will always remain vital. The hybrid discretionary advice based on technology and human involvement could be one of the ways to help maximize the return on client portfolios and the internal efficiency of the bank.

In addition, the digital transformation of the wealth management industry and the evolving needs of wealth clients are driving wealth firms to look at tools and solutions to help them deliver valuable insights to meet the clients’ goals and risk profiles.

How Data has Evolved

According to the latest Thomson Reuters-Hubbis report on “Data – An Elixir for Asia’s Wealth Industry”, over the past decade, there have been great advances in the analytical platforms and software that allow for combination, management and extrapolation of structured and unstructured data.



However, harnessing the power of data is not easy. There is much progress still to make in terms of internal systems at wealth providers, as well as melding the technological solutions into a usable, efficient form.

“Data needs to be accurate and it also needs to be actionable,” only then, can data help drive investment decisions and ultimately client satisfaction and retention.

In the report, “Data – An elixir for Asia’s wealth industry?”, we see how data can play a crucial role in empowering advisors and enhancing client experience and loyalty.

For more insights, download the “Data – An elixir for Asia’s wealth industry?”. If you are interested to learn more, please contact us.

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Data – An elixir for Asia’s wealth industry?

This report gathers the views of a broad cross-section of wealth, legal and technology experts in Hong Kong and in Singapore. The aim is to discover whether the Asia wealth market believes that data will play a crucial role in empowering advisors and enhancing client experience and loyalty.

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