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Wealth Management Trends For 2022 & Beyond

Before the COVID-19 pandemic, wealth management businesses were hit with numerous challenges, mainly due to changing customer preferences, evolving market dynamics, and of course, the urgent need to go digital. 2020 brought with it more obstacles to growth, which inevitably made the wealth management industry look within and introduce radical changes.

Here, one may be tempted to ask, what’s in store for the wealth management industry now that the worst is beyond us? To answer this, we bring to you major trends highlighted by market analysts at financial events and conferences. Being updated on recent developments and upcoming shifts is an effective strategy to take your wealth management business forward. So, read on!

1. The rise of paperless onboarding

Bringing a client onboard through manual processes often used to take days for wealth management companies. However, with digital adoption, this is no more the case.

Now, client onboarding is possible within minutes, and wealth managers need not even meet them face to face to seal the deal. Instead, they can ensure business continuity even in unprecedented situations by connecting with clients virtually.

Because of the availability of digital tools for prospecting, KYC, and even identity verification, wealth managers can expand their client base efficiently sans the hassles that paper-based processes often come with, that too with more accuracy and speed.

2. Hyper personalization will be the way to go

With data analytics and AI-enabled tools, wealth managers can use existing client data to improve their offerings, provide tailored product recommendations, and also offer better service.

In this day and age, clients have unique wealth management needs and preferences, and they expect personalized attention. Therefore, we will witness greater adoption of digital tools in order to empower wealth managers with better insights regarding their clients.

3. Hybrid guidance

Because of the pandemic, investors are now increasingly seeking guidance online. With time, we will see a significant spike in the use of AI-enabled chatbots to help investors make well-informed decisions.

However, in no way does this mean that humans will not be a part of the investor’s journey. Human guidance will also be an important aspect and going forward, we will see an interesting combination of both, as people will still want a personal touch, even in virtual environments.

4. Open X collaborations

Explained simply, Open X is a collaborative approach that involves the coming together of various financial enterprises, irrespective of their size or the niche they serve. The main aim here is to use each other’s strengths and offerings to enhance operational efficiency, lower costs, boost reach and offer memorable experiences to clients. For instance, wealth management firms are now joining forces with FinTechs to make virtual payments easier for their clients.

In this rapidly evolving financial landscape, wealth management firms must collaborate with other players in the ecosystem to meet the varied needs of clients who are concerned about the volatility of the market. Thus, we will be seeing more such collaborations and partnerships in the coming years.


This is just a quick glimpse of a few trends that will shake the wealth management world. Interested in learning more from FinTech experts, financial analysts, and C-level executives from top wealth management companies? Then make sure that you register for the Money 2.0 Conference’s upcoming editions!

10/19/2021 - 05:38
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Author Name
Yash Dogra
Author Bio

Yash Dogra is deeply interested in learning more about the world of finance and is a cryptocurrency enthusiast. He is a member of the organizing committee of the Money 2.0 Conference which will explore insurance and finance trends, acquaint attendees with new financial management tools, and highlight tactics to stay safe from fake/fraud investment schemes as well as spam and stock market scams.