WealthTech, personal finance and financial planning emerged as the most mentioned trends among influencer discussions around wealth management on Twitter during the third quarter (Q3) of 2020. The conversations related to WealthTech revealed the expansion of digitalization in wealth management industry, majorly accelerated by the COVID-19 pandemic, says GlobalData, a leading data and analytics company.

Smitarani Tripathy, Influencer Expert at GlobalData, comments: “WealthTech-based management firms have embraced digital technologies to address the underlying gaps in financial advice and customer satisfaction.”

‘Personal finance’ and ‘financial planning’ emerged as the other two top mentioned trends, led by surge in discussions related to how the COVID-19 impacted the outlook for personal finance and new guidelines on financial planning during the ongoing pandemic.

California-based automated investment service firm Wealthfront emerged as the most mentioned company, followed by The Goldman Sachs Group and Bank of America.

Ms Tripathy continues: “The discussions related to Wealthfront, one of the leading robo-advisors, revealed about the launch of new service ‘Autopilot’ in September 2020, which automates clients’ savings and investment strategy. This service is a competitive service with digital banking.”

An analysis of GlobalData’s Wealth Management Influencer Platform, which tracks more than 200 leading industry experts and their discussions pertaining to the emerging trends, pain areas, new fields of innovation and other popular areas on Twitter, ranked Robin Powell, Editor at The Evidence-Based Investor, as the top influencer during Q3 2020, who largely shared financial advice for investment industry on Twitter.

George Mentz, CEO at Global Academy of Finance & Management, emerged as the next top influencer among wealth management experts with an influencer score of 98, followed by Liz Ann Sonders, Chief Investment Strategist and Senior Vice President at Charles Schwab & Co., Inc. with an influencer score of 97. Sonders mostly shared updates on various investment strategies and asset allocation recommendations for corporates, individual and institutional investors.