Why wealth managers need to change their business models
By International Adviser, 28 Sep 16
Faced with an increasing pressure on margins and the cost of regulatory compliance, EY gives five tips on how wealth managers can change their business models to weather the storm of digital disruption.
5. Social media
Almost half of clients believe wealth managers can “leverage” social media to improve their experience by offering a platform to provide feedback (rate advisors, exchange experiences, ask questions of other clients, etc.).
Clients now expect relevant and insightful content via social media (e.g., issue-driven blogs, objective research and educational information) as opposed to generic sales content.
However, 74% of firms surveyed believe their social media strategy is ineffective.
Tags: EY | Wealth Management
