How wealth managers can meet and exceed client expectations

HNW (High Net Worth) clients today are almost unrecognisable from their predecessors just a decade or so back. First and foremost, profit is no longer the number one priority. Sustainability matters. Around one third of Millennial (aged between 24 and 40) investors mostly or totally exclude non-sustainable investments from their portfolios altogether. And it’s not just the investment appetite that’s changed. It’s the way it’s packaged too. 

While investors still want 100% of the personal attention their parents’ and grandparents’ generations received from a relationship manager, they’re not necessarily looking for a human to help them out all the time. A hybrid blend of human and digital is much better suited for this new breed of investors. What’s more, it’s not just for the always-on Millennial millionaire, Gen-Zers, Baby-boomers and beyond are raising their expectations too.

Three industry experts who know more than most about what customers want and how to achieve it, are; Christine Socasau, Digital Wealth Lead & Product Owner for HSBC’s Wealth Compass, Jon Soberg, Managing Partner at MS&AD Ventures and Jason Gordo, Head of Strategic Partnerships and Client Experience at Goldman Sachs Personal Finance. We plugged into their insightful panel at the recent FinTech Global Digital Wealth & CX Forum to find out more (watch the replay here). Here’s our take on the most compelling findings:

It needs to be real time, every time

For challenger bank customers, most payments and transfers can be pinged over in a matter of seconds. The dreary days of not knowing how much is “really” in the account, versus when the balance was last updated are long behind us. With just a few taps, money can be instantly transferred overseas, moved to a different pot or even invested. It’s become ordinary. And, as we all know, HNW investors demand extraordinary service. “Now people are expecting to have their information at their fingertips”, elaborates Soberg. “That really does change the game in terms of what you have to have in technology and service in order to really make people happy”.

Millionaires who find themselves waiting around and getting frustrated with an app will not be impressed. “Clients are equally catching on to the speed and the pace of things for sure”, agrees Socasau.

“Now people are expecting to have their information at their fingertips. That really does change the game in terms of what you have to have in technology and service in order to really make people happy”

They say that patience is a virtue, but for HNW clients today, this clearly does not apply to wealth managers. Research from Signicat reveals 63% of retail banking customers abandoned a financial service in the past twelve months, because it was taking too long. Even more devastatingly, 32% refuse to even start a financial process with their bank because they believe it will be too laborious. Banks have precious little time to fix their reputation of being slow, before their retained clients start to move away.

In some cases, even the instant service isn’t enough. Recent research found that 51% of clients today expect their wealth manager to anticipate their needs and make relevant suggestions before the client has even made contact. This brings us to the next building block of HNW client expectations – real time hyper-personalisation. “Real time personalisation”, explains Gordo. “It’s [the question of] how do we deliver a unique, robust, dynamic experience in a hyper personalised way in real time”.

It’s not just personal, it’s hyper-personal

The phenomenon of hyper-personalisation takes its roots from the incredible quantities of data companies collect about us. “I think people might be amazed to know how much data some of these platforms are able to get”, explains Soberg. “…These platforms often have access to each one of the transactions. So not only do they know about your lifestyle in aggregate, but they might know exactly how much money you’re spending on junk food versus good food and things like that”.

It’s hard to fathom exactly how much data is out there. But to give you an idea, last year it would have taken one person around 181 million years to download all the data from the internet. Today, as more people gain access to internet (currently at 59% of the world’s population), that figure rises even higher.

Combine this superhuman data collection with machine learning and AI, and you have real-time hyper-personalisation. The new online investment platforms today have the sought-after ability to provide extremely personal services at unheard-of speeds. And customers have quickly become accustomed to the benefits. As Gordo explains, wealthy clients are thinking to themselves, “I want to be served the way I want to be served. I want to get the things I want, and in the way that I want them”… and, it seems, in record-breaking time too.

“[W]ealthy clients are thinking to themselves, “I want to be served the way I want to be served. I want to get the things I want, and in the way that I want them”… and, it seems, in record-breaking time too.”

Technology such as machine learning and AI is clearly the answer. Customers want results in super human speed, which could only be achieved with advanced technology. In a recent study, Deloitte identified that legacy tools and patchwork technology make up one of the three major obstacles holding retail banks back from offering hyper-personalisation. (The other two being a focus on selling products rather than solving issues, and a lack of customer trust). The study found that a whopping 94% of financial services firms are not offering hyper-personalisation for this reason. This offers an incredible window of opportunity for forward-thinking wealth managers to race ahead and make excellent hyper-personalisation a core differentiator.

Learn more about how technology can differentiate your client experience

Re-branding the wealth manager

This doesn’t mean that the expert and experienced client advisor is now redundant. Far from it! But they may have to undergo an extreme makeover, to convince this new breed of investors. “Wealth coach seems to be the new term”, explains Socasau, “We need to evolve our terminology”.

Unlike classic advisors, wealth coaches or wealth planners look beyond the investment portfolio, taking a holistic view of the client’s life and expectations. “The planner’s role or the investment counsellor’s role is both an art and a science”, elaborates Gordo. “We want to get to understand who the client is, what do you want your life to look and be like, and not on the surface, but really dig deep into what that means to them”.

For Gordo, the old-school method of scribbling down some calculations and simply re-balancing the portfolio passed – and not before time. “When I got into this business way back 21 years ago”, he reflects. “Clients would ask, ‘Am I okay?’ and the answer would be ‘Well, let me look at your portfolio allocation. Yeah, you’re 60:40 and allocated this way.’ That was the answer to ‘Am I okay,’ which was not the question the client was asking. They want to know, ‘Do I have enough dough to go with this amazing experienced rich life?”

Today, clients are still demanding this same experience-rich life, perhaps even more so than before. A Harris Group study found that over three quarters of Millennials prefer to spend money on a desirable experience or event, over buying something flashy. 69% believe that these events help them become more connected to other people, their community and planet. Surrounded by enviable social media images and surviving global lock-downs will probably only serve to increase this client sentiment.

“The planner’s role or the investment counsellor’s role is both an art and a science. We want to get to understand who the client is, what do you want your life to look and be like, and not on the surface, but really dig deep into what that means to them”

Client advisors today must be more available than ever, to cover all parts of their clients’ life plans and dreams, while scaling up massively to become competitive. “If we’re going to grow profitable businesses”, highlights Gordo, “we have to be able to serve a lot more clients than we’ve served in the past”. And there’s only one way to do this – with technology.

Creating the perfect hybrid solution

Blending digital and human services together means that wealth management can be more than the sum of its parts.

Clients can benefit from real time hyper-personalisation, thanks to technology. And they can also have the personal touch and reassurance needed from an experienced advisor. “Less of the bread and butter is delivered by the human”, Socasau envisions. “That can be delivered by the tools and more of the value-add can be delivered by the person, the advisor”. Streamlining the process to maximum efficiency level means that clients get the service they feel happiest with, at a fraction of the cost.

According to Gordo, clients have key milestone moments when they will seek the advice of an expert, over a robot. “Any time the decision is important, or meaningful in the person’s life, they’re going to want to human involved”, he explains.

Each client is different, and so their milestone moments are unique. However, there are some common conversations where an advisor can add value. For example, over half of wealthy clients want to discuss concerns about their parents’ long-term financial health. 57% want to talk about inheritance and estate planning. And, most frequent of all, 67% of clients want to have a conversation about the long-term finances of their children.

For 68% of emerging wealthy and HNW clients, a hybrid solution is the preferred approach. And for client holding over $10 million in assets, this jumps to a compelling 72%. To offer this, wealth managers will need to wholeheartedly embrace open banking and open finance principles. This means partnering up with specialist and white label technology providers to offer a one-stop-shop of hyper-personal, real time services.

Partner for success

Some years back, heavy-hitting banks and wealth managers acquired promising online financial services providers. Buying up entire teams and products, they hoped to slot them into the existing processes and software in a rough patchwork method. Today, it’s a different approach entirely. Online platforms and traditional banks are partnering up instead. Together, they are bridging the regulatory and customer experience gaps in financial services. Not by squeezing one company into another, but by seamlessly taking the customer from one service to the next, all within the same app or platform. “The best start-ups are thinking more about who [their] customers [are] and what are all the services that they need?”, explains Soberg. “[The fintech] may not provide all of them, but then [they’re] going to partner with three or four others so that [they] can deliver a complete package to somebody that has everything”.

“The best start-ups are thinking more about who [their] customers [are] and what are all the services that they need? [The fintech] may not provide all of them, but then [they’re] going to partner with three or four others so that [they] can deliver a complete package to somebody that has everything”

Partnering up is a clear win-win for wealth managers and the online investment platforms. New entrants gain access to a treasure trove of customer data, as well as the manager’s seal of approval which increases trust. Wealth managers, meanwhile, can become highly efficient, scalable and provide a smooth hybrid one-stop-shop experience for customers… all in hyper-personalised real time.

Right now, Gordo believes banks and wealth managers still have the upper hand when it comes to thrashing out these partnerships deals. “Don’t forget the golden rule”, he advises, “He who has the gold, makes the rule”. The online platforms are popping up left, right and centre. Over the past four years, the number of live challenger banks increased four-fold to 256. And they’re all looking for that golden data and legacy reputation that wealth managers can provide.

Attracting and retaining clients with technology

As wealth management evolves and streamlines, clients will see more benefits across their entire lifecycle. And the race for the top service-providers will narrow. Research from Accenture shows that the 6% of firms already offering hybrid services are storming ahead in terms of brand differentiation. And, what’s more, this model attracts younger, more affluent and a better educated investment base. Which is surely extremely promising for future success.

This panel covered a great many of the core client expectations. The experts stressed the importance of real time access to information, hyper-personalisation, hybrid solutions and how to create a one-stop-shop of seamless services with partnerships. But there are more ways technology can help you to attract and retain clients too. As industry experts in cutting-edge wealth technology, we are always open for a conversation about your next steps and ambitions. In the time it takes to send an email, you could already be on your way to developing a future-proof strategy for your clients and advisors.

Discover our three strategies for attracting new HNW clients


Wealth Dynamix delivers Client Lifecycle Management solutions to the world’s leading private banks and wealth and asset management firms.


Wealth Dynamix CEO & Co-Founder Beats the Global Drum for State-of-the-Art CLM

26 September 2022

Wealth Dynamix CEO & Co-Founder Beats the Global Drum for State-of-the-Art CLM

Hubbis met recently with Gary Linieres, our CEO & Co-founder, to learn more about his plans for the future, specifically in the core Hubbis markets in Asia, where Wealth Dynamix has been winning more traction with our new CLMi SaaS solution.

3 min. read

Expert Insights: Building a Business Case The key to Unlocking Value

23 September 2022

Expert Insights: Building a Business Case The key to Unlocking Value

What are the common blockers, what challenges are unique to the Client Lifecycle Management business case, and how can you arrive at metrics you're confident in? Here we share the insights gained through a thought-provoking webinar.

3 min. read

Why digital transformation is key to attracting the next generation of Asian wealth clients

8 September 2022

Why digital transformation is key to attracting the next generation of Asian wealth clients

Asia is poised for a huge transfer of wealth by 2030 as high net worth families start succession planning. Wealth managers need to ensure their digitisation efforts are slick enough to win over this next generation of investors.

3 min. read

Gabriel Chan

Head of Sales – APAC

An accomplished, results-driven sales and marketing professional, Gabriel has held sales and marketing leadership positions in Singapore and China at some of the world’s most successful and respected global technology enterprises.

During more than 20 years spent at IBM, Sun Microsystems and Microsoft, Gabriel developed and implemented sales and channel strategies to support strategic business objectives.

His specialism is growing and extending sales territories to grow revenues and increase market share.

Travis Morgans

Head of Consultants

Travis combines 15 years of software delivery, business modelling and leadership experience with a passion for transforming business needs into effective digital solutions. Before joining Wealth Dynamix in March 2018, Travis led Operations for Nikon – a role which incorporated CRM product ownership responsibility and initiated over 10 years of MS Dynamics experience, from 2011 to Dynamics 365​.

 Since joining the Wealth Dynamix team, Travis has been instrumental in designing and delivering some of our most strategic WDX1 projects. Leading the consulting team for WDX1, he is responsible for their recruitment and development. The team’s complex remit supports a fundamental aim – to ensure Wealth Dynamix delivers the best client experience. ​Travis is also responsible for ensuring the WDX1 product is designed and evolved in the most adaptable way possible to drive adoption across our client base, existing and future.  

Joanne Donoghue

Chief Marketing Officer

An experienced, tenacious marketer, Jo joined the Wealth Dynamix team in 2021 as Head of Marketing and quickly rose to the position of Chief Marketing Officer. A Brand and Marketing specialist with a proven track record in BRB and B2C communications, Jo combines a customer-centred approach with strategic thinking.

Having held senior Marketing positions in numerous FTSE 100 businesses, including Asda Stores Ltd, The Co-operative Retail Group, plus financial services brands MBNA, OneFamily, TransUnion, The Co-operative Group, she possesses a wealth of experience in the fields of finance and technology.

Jo is passionate about activating the Wealth Dynamix brand across every channel, taking a holistic marketing approach to drive consistency, salience and thought-leadership activity.

About – Agustin Collazo

Head of Strategic Client Relationships

Agustin joined Wealth Dynamix over six years ago bringing a wealth of experience in change management.

Having experienced first-hand the challenges of managing clients through change, Agu now brings that expertise to Wealth Management firms looking to leverage technology in order to help them connect more effectively with their clients.

Agu has a deep technical knowledge of our solutions that allows him to deliver our products effectively, unlocking the full potential of every feature.

As our Head of Strategic Client Relationships, Agu’s specialist expertise supports firms to become more efficient, transparent and dependable using our CLM solutions.

Juan Stoppa

Head of Development

Juan has over 20 years’ experience developing and implementing CRM solutions and has spent the last 10 focusing primarily on the Client Lifecycle Management (CLM) in the Wealth Management industry.

Currently Head of Development, Juan is responsible on overseeing the technical direction of the product.

Before joining Wealth Dynamix, Juan has worked for Barclays, Fujitsu and Ciber delivering large scale CRM projects in the financial services industry.

Juan has a first degree in Telecommunication Engineering from Universidad Blas Pascal and a MSc in Business Information Technology from London South Bank University.

Ben Altmira

Director of Operations & Change

An internationally experienced change management professional, Ben is responsible for overseeing projects both internally, and for clients.

In a career spanning more than 20 years in global banking, finance and management consulting, Ben has led strategy formulation, project planning, change management adoption, business networking consultation and transformational change projects at Fortis Investments, Barclays Wealth and Investment Management and Verisure Securitas Direct. Since beginning his career at Deloitte, Ben has also amassed a wealth of experience working on complex CRM system implementations, and is a PROSCI-certified Change Practitioner and a Certified Scrum Master (Scrum Alliance).

David Backx

Director of Pre-sales and Implementations

When David joined Wealth Dynamix in 2015 he brought with him a vast amount of experience delivering large-scale Microsoft Dynamics CRM projects. As a Senior Business Analyst at Royal Bank of Scotland David managed deployments with more than 2000 users, for both Business and Commercial Banking, as well as working on key AML initiatives for RBS International. In his current role at Wealth Dynamix David supports the growth and strategic direction of client implementations in Europe. Wealth Dynamix leverages David’s product expertise to shape the product roadmap and ensure that the firm delivers solutions with the right capabilities, that will be enthusiastically adopted, by all customers.

Prior to his involvement in the wealth management sector, David worked as a waste management contracts manager, working with Multi Services Kent to ensure effective waste clearance and re-use at the 2012 London Olympics.

Cedric Neuville

Director of Pre-sales and Consulting Europe

Since joining Wealth Dynamix in 2019, Cédric has worked closely with clients to ensure that the WDX and CLMi solutions are deployed efficiently and effectively.

In a career spanning more than 25 years, Cédric has become an accomplished business and global project management leader covering both technology and financial markets sectors. Having held various roles in private banking (front, middle and back office) and brokerages, in both functional and technical roles, Cédric has led many projects including client onboarding implementations and KYC reviews, regulatory compliance projects (including PSD2, MIFID2/PRIIPS, GDPR, CRS, Rubik) and digital transformation projects (online and mobile design and implementation).

Cédric has vast experience building and managing international project teams, having created three offshore teams in Tunisia and India, managed a 70-employee company as Deputy CEO and a startup Fintech founded to create smartphone apps.

Johnny Beloe

Director of Pre-Sales

As Director of Pre-Sales, Johnny is responsible for maintaining the firm’s pre-sales policies, methodologies and resourcing. He is also leads some of WDX’s largest pre-sales analysis exercises, conducted for a wider variety of financial services firms spanning multiple jurisdictions.

Continual engagement with existing and prospective clients helps to inform the WDX1 product strategy, roadmap and pricing.

Johnny has spent his whole career in financial technology in various consultancy and
pre-sales roles. His expertise covers the full stack of systems required by leading Private Banks and Wealth Managers, encompassing core banking solutions, portfolio management solutions, Client Lifecycle Management (CLM) solutions and more.

William Rouse

Commercial Director UK MEA

William’s commercial expertise in connecting technology to solve wealth management business challenges was borne out of his early career as a stockbroker, followed by a variety of Client Relationship Management and Sales roles in asset management and banking.

Having experienced first-hand the challenges of doing the job, William recognises that an unwavering focus on client service is required to build progressive and mutually beneficial partnerships in FOR the longer term. Having gained further experience working for financial technology service providers including Calastone and Contemi, he has the specialist expertise needed to identify how to leverage technology to help wealth managers connect more effectively with their clients, and become more efficient, transparent and dependable.

In addition to his role as Commercial Director at Wealth Dynamix, responsible for new business development in the UK, US and Middle East, William sits on the board of the Securities Investment Management Association (SIMA) where he is actively involved in exploring industry trends and challenges.

Dominic Snell

Chief Product Officer

An experienced and accomplished specialist in CRM technology and wealth management, Dominic is responsible for defining and leading the product roadmap for Client Lifecycle Management (CLM) solutions at Wealth Dynamix. Experienced in SaaS strategy definition, Dominic formulated the development and launch plan for the firm’s cloud-based CLMi solution.

Prior to joining Wealth Dynamix in 2014, Dominic held senior positions in both RBS and Barclays Wealth and Investment Management, where he was responsible for leading enterprise-scale CRM implementation projects.

With more than 15 years wealth management and WealthTech experience he has vast expertise and insights into best practice CRM and CLM execution.

Francois De Lescure

Chief Revenue Officer

François joined Wealth Dynamix in 2020 to grow the company’s presence in France and further extend business operations across Europe and has since been designated Chief Revenue Officer, a member of the board. 

Having closed several flagship deals for the company across Europe and Switzerland, today his role encompasses responsibility for new and existing revenues, recruiting, structuring and managing the sales team, plus owning the business forecast and reseller channels.

Previously, François served as Chief Sales and Marketing Officer, Executive Committee member and investor at DreamQuark, an Artificial Intelligence software startup. At DreamQuark, he secured the firm’s first recurring revenues with Tier-1 banks and insurance companies, won the Fintech of the Year award and enabled A and B level fundraising. Before that François spent almost 10 years at Nokia Networks, leading European Sales for Analytics Software.

François has an MBA awarded by INSEAD and an engineering degree from the École Centrale de Nantes.

Natalie Levine

Chief Operating Officer

Currently Chief Operating Officer and Board Member at Wealth Dynamix, Natalie is responsible for the strategic direction of operations across the business. A wealth and investment management industry expert, with more than 25 years experience delivering large-scale technology projects, Natalie plays a pivotal role in ensuring the efficient running of the firm and meeting key business goals.

Prior to joining Wealth Dynamix in 2019, Natalie was Head of Technology at Bridgepoint Advisers, a UK-based private equity investment firm. She joined Bridgepoint following an 18-year tenure at Quilter Cheviot, where she was Head of Technology responsible for Operations and execution of the firm’s business plan.

Brent Randall

Co-founder and CFO

A wealth and investment management industry expert, Brent has more than 25 years of experience in developing front to back software solutions that address sector-specific operational and compliance challenges.

Prior to co-founding Wealth Dynamix in 2012, he was a Director at Third Financial Software, where he drove product development.

Previously, he led business development and product strategy for the wealth management division of Financial Objects.

Brent spent 13 years at DST (now SS&C) until 2007, where he was Associate Director responsible for the global product strategy of institutional front office and wealth management solutions.

He graduated from Downing College, Cambridge, with an honours degree in Geography.

Gary Linieres

Co-founder and CEO

With a lifetime career in wealth management, beginning in front office sales more than 25 years ago, Gary is recognised as a highly successful, award-winning executive and serial entrepreneur.

Currently CEO at Wealth Dynamix, one of Europe’s fastest growing WealthTech firms which he founded in 2012, Gary has pioneered a new approach to Client Lifecycle Management (CLM) and built solutions suited to both enterprise-scale and mid-size financial institutions.

In his early career Gary excelled in a wide variety of FinTech sales management and executive roles in the UK, Switzerland and France.

Following his tenure as Managing Director at Financial Objects, which saw revenues grow by more than 300% on his watch, Gary founded and subsequently exited from Third Financial Software after it became a leading front office technology provider.

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