What are the current pain points of the relationship managers?
Relationship managers are facing more challenges than ever : They have to respond to increasing client expectations and demands, particularly from the next generation and, at the same time, the regulatory pressure keep them from being able to dedicate more time to answer those new needs.
What do you expect will have to change in order for this industry to adapt to these new challenges?
The industry is suffering….and we are only at the beginning ! The traditional way of doing business is no longer efficient and the digital wave present at the same time historical opportunities if you are able to positively transform your organisation….but also lethal threat if you do not adopt the right strategy !
Most Wealth managers understand the importance of digital transformation but they must adapt their strategy to drive change. The industry can’t afford to jump on the first train that comes close and needs to clearly target the pain points they want to solve.
As we have seen happening in the US, hybrid solutions, empowering the human relationship managers and providing clients with powerful digital solutions is the way to go.
Who will be the winners in the industry 5 years from now?
Five years from now, I believe the industry will have changed tremendously. Some new names will be at the top, whereas traditional names relying on their old ways will have fallen. The winners will be the players that selected the correct digital solutions to empower their employees, focusing on change management and who will listen to their clients’ feedbacks to continually improve on a market where the quality of service will become more than ever the key.