Access to vast amounts of financial information and economic data has gone a long way toward democratizing the ability to participate in the investment advisory sector. Large financial institutions, however, continue to hold a persistent advantage over small and mid-sized advisors when it comes to offering highly-customized research and analysis to their clients.
Read MoreDigital transformation is changing the way that people buy, get information and invest. Though wealth management is a relative latecomer to digital transformation, today's wealth management companies and their customers are now relying increasingly on digital processes to purchase wealth management services -- as well as for some basic investment advice, says Michael Foy, Senior Director, Wealth Management Practice J.D. Power, in a new interview for journalists.
Read MoreAs new technologies and communication channels create more options for consumers seeking to optimize the management of their financial lives, the wealth management sector must put the customer experience at the center of how, when and where to apply new services based on innovative capabilities, says Craig Martin, Managing Director, Wealth & Lending in the Services Industries Division at J.D. Power.
Read MoreA new study from Juniper Research has found that roboadvisor platform revenues will reach $25 billion by 2022, up from an estimated $1.7 billion in 2017, as the automation of wealth management revolutionizes the way individuals invest.
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