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How to Overcome Advisor Resistance to AI-Generated Insights

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This has heightened the need for wealth management firms to embrace technology, including artificial intelligence, to arm their advisors with data and tools that will improve the quality of advice and how it is delivered. And yet when it comes to exploring AI to help advisors onboard new clients and provide more relevant advice to existing ones, most firms are stuck in low gear, with few putting the technology at the core of their business. Indeed, less than one-third of the wealth managers we surveyed are scaling AI across their businesses. Part of the problem is getting buy-in and engagement from financial advisors who need convincing that insights created by AI will be actionable in their day-to-day roles. In some instances, recommendations provided by AI don't match clients' immediate needs or stages of life.


WealthTech Trends to Watch in 2018 - Xtiva

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Much has changed in the wealth management industry since robo-advisors first made their appearance a decade ago. Talk of disrupting the advisor-client relationship has given way to a new generation of innovative technology solutions that enhance and augment the fundamental ways that investors invest and advisors advise.


WealthTech Trends to Watch in 2018 - Xtiva

#artificialintelligence

Much has changed in the wealth management industry since robo-advisors first made their appearance a decade ago. Talk of disrupting the advisor-client relationship has given way to a new generation of innovative technology solutions that enhance and augment the fundamental ways that investors invest and advisors advise. Today, robo-advisors can be seen as part of a broader movement to digitize wealth management, embodied in the term: WealthTech. Technology derived from wealth management firms, research tools that generate investment solutions, and platforms to support financial advisors -- all fall under WealthTech. Finance is becoming a technology play.


Lawrence Pusateri Louisville, KY Morgan Stanley Wealth Management

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The 401kWire's 300 Most Influential DC Advisors as identified by 401kWire using quantitative criteria selected from a pool of over 3,000 nominations from the industry and the 401kWire's editorial staff. The list of the 300 Most Influential DC Advisors was selected from more than 120,000 reader votes as well as from input from last year's Top 40 Advisors and from distributors working with the advisors. Quantitative factors include, but are not limited to, total assets, production, average account size, years in the business and other statistics about the advisors' practices gathered directly from the nominees. Investment performance is not a criterion. The rating may not be representative of any one client's experience and is not indicative of the Financial Advisor's future performance. Neither Morgan Stanly Smith Barney LLC nor its Financial Advisors pay a fee to 401kWire in exchange for the rating. Source: ASPPA's ASPPA 401(k) Leadership Award is designed to acknowledge a specific accomplishment and/or contribution by an individual or group of individuals within the 401(k) industry. This Award, sponsored by Morningstar, recognizes leadership, innovation and significant influence within the retirement industry targeting the sales, marketing and establishment of 401(k) plans. Firms review and approve nominations of individuals who match the ASPPA Award criteria. Individuals are judged based on qualitative information collected from the nomination form, and potentially from interviews with the Award Committee. Finalists are entitled to receive paid airfare, conference registration, and three nights' hotel accommodations to The ASPPA 401(k) SUMMIT. For more information on the award, go to http://www.aspa.org. The award is not indicative of the Financial Advisor's future performance. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors pay a fee to ASPPA in exchange for the award. The award is based upon a recipient's application and not upon any qualitative or quantitative criteria relating specifically to one's position as a Financial Advisor. As such, the award is not representative of any client's experience nor is it indicative of the Financial Advisor's future performance. Neither Morgan Stanley Smith Barney LLC nor any of its Financial Advisors pay a fee to the Baltimore Business Journal in exchange for the rating. The award is based upon a recipient's application and not upon any qualitative or quantitative criteria relating specifically to one's position as a Financial Advisor. As such, the award is not representative of any client's experience nor is it indicative of the Financial Advisor's future performance. Neither Morgan Stanley Smith Barney LLC nor any of its Financial Advisors pay a fee to the Baltimore Business Journal in exchange for the rating. The award is based upon a recipient's application and not upon any qualitative or quantitative criteria relating specifically to one's position as a Financial Advisor.


21 interesting facts about the wealth management industry [INFOGRAPHIC]

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There are expected to be 7.7 million more high-net-worth-individuals (HNWIs) in the world by 2023, according to a report by wealth data business, Wealth-X. This equates to $20.9trn of newly created wealth in the next five years, presenting a huge growth opportunity for the global wealth management industry. As such, we've decided to compile a short list of interesting statistics on the global wealth management industry – taking into account the current state of the industry, future growth prospects and what HNWIs expect from their advisors. We also take a look at how wealth management firms are using technology, and how they plan to do so in the future, considering aspects such as the use of AI and robo-advisors. The strongest-growing region in 2017 was Asia, which posted a 19% increase.