Why is technology so important to the industry?

Technology is more essential than ever for wealth management as the sector is undergoing change due to demographic shifts, increased regulation and growing expectations regarding digital client experience and engagement. As Millennials and Generation Z inherit unprecedented levels of wealth, they expect seamless digital experiences, personalised insights and real-time access — demands that traditional manual processes simply cannot meet. Advisers must therefore shift from product-led conversations to outcome-based, insight-driven guidance, for which strong data foundations, automation and embedded AI are required.

Meanwhile, regulators are tightening their scrutiny of AI usage, data privacy, cybersecurity and model governance. Firms need technology to deliver better client experiences and to help them remain compliant through auditable workflows, explainable AI and embedded controls. Scalability challenges are eroding profitability, particularly in markets where legacy systems dominate, so technology is the only way to improve efficiency, reduce the operational burden and enhance the client experience simultaneously. In short, technology is a key factor in achieving a competitive advantage in wealth management.

What are the key trends shaping technology at the moment?

The predominant trend influencing technological development in the industry at present is the urgent need to address the issue of scalability. Most firms still operate on legacy, non-scalable infrastructures where each increase in revenue is accompanied by a corresponding rise in operational costs. This is driving accelerated migration from on-premise systems to SaaS, and increasingly to Business Process as a Service (BPaaS), as firms seek to reduce inefficiency, lower cost, and redirect advisor time toward clients rather than administration.

Alongside this shift, front-office enablement is becoming a top priority. In the current business climate, firms are allocating resources to acquire AI-powered advisor tools, integrated client data platforms, and workflow automation systems. The objective of these investments is to facilitate the delivery of personalised, outcome-focused guidance on a large scale. Advisers are seeking technology that enriches insight, automates preparatory work, and enhances productivity. Clients expect seamless digital engagement.

Combined with secure infrastructure and embedded compliance capabilities, these trends are pushing wealth managers towards leaner, more resilient operating models that support growth without inflating the cost base.

What are the main challenges facing technology?

One of the most pressing challenges in wealth management technology is the industry’s persistent scalability gap. Many firms continue to rely on legacy, non-scalable architectures where incremental revenue drives disproportionately higher operating costs. This structural inefficiency is prompting organisations to transition from on-premise systems to SaaS, and increasingly to BPaaS, in order to achieve more sustainable cost models. These approaches have been shown to reduce operational friction, streamline processes, and allow advisers to redirect their time toward client engagement rather than administrative workload.

However, it should be noted that technology modernisation alone is not sufficient. In order to generate real-time insights and deliver targeted, outcome-based guidance, firms must integrate these architectures with AI-enabled front office tools, advisor copilots, and unified client-data platforms. The challenge lies in executing this transition while simultaneously strengthening security, ensuring data quality, and embedding compliance across the technology stack.

Addressing these foundational issues is essential for firms to protect margins, enhance productivity, and create the seamless, scalable client experience that the market now demands.

What’s one book you think everyone should read?

The Count of Monte Cristo. An epic tale of a man’s personal transformation and of patiently plotting revenge against hisenemies. A fantastic read.

If you couldn’t do your current role what would your dream job be?

I would love to run a business involved with coffee – sourcing, importing, roasting (and obviously tasting!)

What was your student job?

I used to sell car and household insurance for a major international insurance provider.