Advisors' new toolkit: Biometrics, risk algorithms and machine learning

Personal relationships have always been the lifeblood of wealth management, but the pressure to intensify personalization has increased dramatically, according to Capgemini's most recent World Wealth Report. In fact, there is a "measurable correlation linking high-net-worth clients' personal connection to their firm and advisor and the financial performance of firms," according to the report. Despite a dip in investment performance last year, 88% of wealthy clients in the U.S. and Canada with investable assets of $1 million or more said they still had faith in their advisors, Capgemini found. "Personal connections are still the differentiating factor," says Chirag Thakral, an analyst with Capgemini. What do wealth managers need to do to strengthen their ties to clients in the digital age?