29 August 2019 13:30
Photo : Freepik
Nearly one in two canadians said they want to change the firm’s wealth management over the next three years, reveals a recent report from EY. The evolution of these firms towards digital activities and the increase of the offer self-service explain, in particular, 44 % of surveyed consumers to transfer funds to a new manager.
According to EY, they are in search of a competitive pricing (33 %), customized solutions and connected (30 %), access at all times to their portfolio of wealth management (28 %) and planning and advice more staff (27 %).
“The canadian sector of the management of heritage is not immune from changes in consumer behaviour, says Annie Bergeron, associate partner of the advisory services of EY in Montreal. Canadians consult an average of four different sources for advice and they often turn to professional managers to solve specific problems. Vast possibilities for companies that position themselves at the centre of the financial ecosystem of customers. “
Take full advantage of the technologies
EY suggests that wealth managers “to take full advantage of the technology and analytical solutions that allow you to listen to, discover, deal with and anticipate the needs of customers” if they want to attract new customers and retain their existing customers.
“Managers must not underestimate the comfort level of their clients and of their wish to avail themselves of digital tools, regardless of the extent of their financial means,” says Ms. Bergeron. Access to mobile resources is a challenge for consumers, wealth managers must differentiate themselves by pulling quickly advantage of the new wave of technology. The tools activated by the voice and personal digital assistants are proving to be powerful allies on which the sector can build on to address the future. “