AI in wealth management: A win-win for clients and advisors

This article was provided by Broadridge Financial Solutions. In an industry that is historically characterized by legacy technology, wealth management firms in Canada and around the world now have access to a growing array of sophisticated technology solutions that harness the power of data analytics, artificial intelligence (AI) and machine learning (ML). As investors increasingly demand a high-touch, digital-first experience amid unprecedented market volatility, these technology capabilities are opening up new growth opportunities for wealth managers enabling them to provide advice and content at the right time via the right channels. The benefits of these new technologies kick in for investors and advisors alike even before a client becomes a client. Wealth managers can use data analytics and other technologies to gain insights into the habits and preferences of prospective clients in order to ensure that they are paired with clients are most closely aligned with their approach and values.