Sink or swim – new technologies are critical to the survival of wealth management firms

Christopher Truce – Saxo Bank A/S via Finextra

Fintechs are disrupting many aspects of the financial services industry and wealth management is no exception. These new entrants can provide scale and greater customisation at a much lower cost than traditional wealth management models, many of which are heavily dependent on human resource and have highly manual processes.

So, what will be the impact of this trend – will the new guard succeed in transforming the wealth management business to the extent that it sweeps away the traditional incumbents or will they simply bring more commoditisation to an industry which is already suffering from low margins?

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