Highlights:
– A top priority in the digital agenda
– Hyper-personalisation of investment proposals is the most relevant goal
– Far from a data-driven culture
– Hyper personalisation is mostly useful to elevate customer experience

Objectway, a leader in the Digital Wealth & Asset Management software, publishes today the survey report “Are you developing a hyper-personalised strategy?” describing the results of the online survey filled out by domestic and overseas Wealth & Investment Managers.

The paper illustrates interesting findings on the applications of hyper-personalised services in Wealth Management, and how firms are leveraging them to increase the customer base and ensure their future growth.

A top priority in the digital agenda

More than half of the surveyed wealth managers have developed or are working on a hyper-personalisation strategy, showing that it’s going to become a top priority of their digital agenda, particularly now, as it could represent the future of customer engagement post-Covid.

Hyper-personalisation of investment proposals is the most relevant goal

4 out of 10 respondents are implementing hyper-personalised portfolio construction and product recommentations, where artificial intelligence, data analytics and machine learning are applied to create personalised proposals, which is the most important achievement, according to one third of the surveyed panel. Bespoke financial planning (18%) and risk profiling (18%), and reporting (16%) are equally placed, underlining that leveraging advanced technology to analyse client behaviour enables to provide a well-rounded tailored advice on investment decisions.

Far from a data-driven culture

Only 25% of interviewees can effectively rely on behavioural sciences and sentiment analysis to personalise client experience, while most of the respondents (67%) would like to leverage them. Financial advice and reporting are usually data-driven, but the information used to this purpose is generally very limited. So, there is a long way to go before AI-driven technology will be at the centre of hyper-personalisation in Wealth Management.

The full survey report from Objectway can be downloaded here: objectway.com/insights/

On June 15th Objectway and EveryoneINVESTED will host a webinar, reserved to financial institutions, where they will reveal how to leverage investor risk profiling, gamification and behavioral technology to boost conversion of digital onboarding processes and enable superior advice for a long-term relationship: to register CLICK HERE.