Ahead of our Digital Integration in Wealth Management 2017 event we spoke to Acting Head of Wealth Management Bartosz Golba about what he’s looking forward to and how digital developments will shape the financial advice and wealth management industry.
What is happening within wealth management at the moment that excites you?
I dare to say we live in really interesting times, with industry incumbents facing many challenges – and it is difficult to choose just one theme which is most exciting. There is digitalization, both on the client-facing side and in the back-end operations. There are record-low interest rates and persistent market volatility, which do not help delivering high rates of return at all. Intergenerational transfer is on the horizon, as both clients and advisors are ageing. The wealth management industry we know is changing, and in 10 years it will be very much different.
Which conference presentation are you most looking forward to?
There are a lot of fascinating presentations due to be delivered by industry key thought leaders. One topic that caught my attention is “Exploring how retirees are embracing digital attitudes and behaviors to evaluate how best to appeal to this segment,” from Standard Life’s Head of Customer and Digital Marketing Mary Harper. Millennials usually go hand-in-hand with discussions of digitalization in the financial services industry, but the older generation is also increasingly tech-savvy. I am looking forward to hearing about Standard Life’s experiences in this field.
How do you think digital technology will change the wealth management industry in the future?
We have obviously seen the rise of robo-advisors, and it will be interesting to see how artificial intelligence can be incorporated into the investment management or risk-profiling process. However, I am a strong supporter of the belief that human advisors will not perish; it’s just that their lives will be made much easier thanks to technology.
If you’re interested in attending this event please sign up here.