NOVEMBER 20224The wealth management (WM) industry is now undergoing a lot of change. The expectations and preferences of a new generation of investors have changed the standards by which advice and investment products are offered in the market as a result of new technologies and the lessons learned from previous financial crises. Due to a challenging investing environment marked by increased levels of risk and uncertainty, advisors are finding it more challenging to achieve great investment performance for their clients. Many long-standing client/advisor relationships may be impacted by the ageing of advisors and the upcoming wealth transfer from baby boomers to their children, which may also present opportunities for new businesses to gain market share. The level of upheaval in the WM industry is also made worse by new business models, increased regulatory costs, and altered competitive dynamics.The wealth management industry has a lot of opportunity for disruptive innovation. The infrastructure for wealth management needs to be digitalized now more than ever. Digital wealth management comprises using technology to provide value, offer expert support, and improve the investing experiences of customers. It goes beyond simply offering online channels for transactions.Another outcome of the introduction of digitization is the creation of robo-advisors, which are automated, algorithm-based systems that provide wealth management advice. Thanks to these user-friendly systems that combine science and human judgement in advising models, a sizable portion of the population may now access and afford the full investment process. Big data and advanced analytics are transforming the industry by introducing new methods for interacting with potential clients, managing client relationships, and limiting risks. By collaborating with wealth tech providers, traditional wealth advisory businesses can increase their capabilities and digitalization more quickly and affordably.However, the wealth management sector as a whole is taking its sweet time to adapt to technology. It's about time the conventional techniques were improved.Emmanuel Christi DasManaging Editoreditor@siliconindia.comInnovation Led Wealth Management EDITOR'S NOTEsiliconindia Vol 7 · Issue 8 - 1 · NOVEMBER - 2022Publisher Alok ChaturvediManaging Editor Emmanuel Christi DasAssistant Editor Heena KousarEditorial TeamHoney KumariHridkamal RoyAkankha ChakManager - DesignPrabhu Dutta A.R.N RayArt ManagerSuanya Chakraborty Designer Mrigank SharmaVP Sales & MarketingShashi RanjanSales & MarketingNischita Prakash Naiksales@startupcity.comEditorial Queriesstartupcity@siliconindia.comCirculation Manager Magendran PerumalTo subscribeVisit: www.siliconindia.com/subscribe/ Magazine Price is Rs. 150 per issuePrinted and Published By Alok Chaturvedi on behalf of Biz Print Media Technologies Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Editor Alok ChaturvediCopyright © 2022 Biz Print Media Technologies Pvt. Ltd. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.
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