Evolution of Client Engagement in Wealth Management: Old Dog, New Tricks

Wealth management firms look radically different than they did five years ago.

February 1, 2023 – Fast-changing client expectations and needs are leading wealth managers to rethink their client engagement strategies—often completely reimagining them, no matter how traditional they have been thus far. This means understanding whom they want to serve, tracking what these clients expect and want from their FIs, and knowing how competitor firms engage different client cohorts.

This Impact Report provides a glimpse of the different levers of client engagement that wealth managers use and the trends they need to be aware of. It is based on discussions at the Aite-Novarica Group Wealth and Asset Management Forum in November 2022 in New York City, other phone-based interviews with wealth management firms and vendors, and desk-based secondary research.

Clients of Aite-Novarica Group’s Wealth Management service can download this report and the corresponding charts.

This report mentions Accenture, Apple, AXA IM, Bank of America Merrill Lynch, CaixaBank, Citi, Edward Jones, Envestnet, Facebook, Formue, Google, Hana Bank, HSBC, JP Morgan, Lloyds Banking Group, Morgan Stanley, Salesforce, UBS, and Union Bank of India.

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