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The front office is by far the greatest expense for wealth management firms. According to a recent study the average annual cost of front office professionals is approaching £200k. Given that client experience remains the differentiator in a competitive space, this is justifiable—but pressure on cost-income ratios has never been greater. In an ideal world productivity would improve at a faster rate than costs, thereby growing a wealth manager’s profit margin, so this has become a core focus for empowering the ‘Future Adviser’.
Pre-COVID-19 there were broadly two camps within wealth management…(download the report extract to read on)
This is an extract from the recently published report by The Wealth Mosaic titled ‘The UK Wealth Management Technology Landscape Report 2020’ (download the full report here).
10 December 2020
Learn how wealth management firms can enhance the client-adviser relationship at all stages by the intelligent application of technology.
1 min. read
8 December 2020
Hear industry experts discuss current challenges wealth management firms are facing and the best opportunities for new tools and technologies.
1 min. read
26 November 2020
Learn how successful wealth managers are boosting revenues and productivity at a faster rate than their operational costs.
1 min. read
