Technological advancements have transformed how businesses manage their finances, investments, and wealth. Data-driven decision-making and enhanced client experiences have driven the improvements. The emergence of FinTechs is visible as wealth managers increasingly invest in new technologies, including robo-advisor, robotic process automation, artificial intelligence (AI), and digital identification (ID) technologies for boosting customer experience. AI-driven tools help businesses optimize investment strategies, manage risk, and improve portfolio performance. Implementing advanced cybersecurity protocols ensures the integrity and confidentiality of client wealth management activities.
The global wealth management industry is projected to reach $3.43 trillion by 2030, manifesting a CAGR of 10.7 percent. Wealth management’s growth is driven by alternative investments like private equity, commodities, hedge funds, real estate investment trusts (REITs), and intellectual property. FinTechs have disrupted wealth management, and its benefits, such as reduced financial stress, financial planning, and digitalization, are contributing to market growth. Market opportunities are opening up due to technological advancements and emerging economies’ largely untapped potential. Wealth managers can customize their services using data analytics to meet clients’ needs and offer personalized investment recommendations driving the market growth.
This edition of Banking CIO Outlook Canada provides ways to help businesses navigate complex compliance requirements efficiently. Companies leveraging technological advances can effectively predict market trends, assess risk, and identify investment opportunities.
It features a thought leadership article from Michael Williams, CFA, RBC InvestEase, Director, Portfolio Advice, who discusses how a scoring system designed by human experts assesses the answers and provides investors with a portfolio recommendation best suited to help reach their goals. It also features an article from Gabriel Gaete, Investment Unit - Head of Financial and Administrative Operations at SEMAICA, who sheds light on managers’ importance in simplifying complicated issues for their clients and finding the solution that best meets the wealth management mandate.
In this edition of Banking CIO Outlook Canada, we also bring you the story of some top wealth management providers. One of them is Harbourfront Wealth Management, which provides independent and unbiased financial advice focusing on accurate wealth management.
This edition featuring top Wealth Management Solutions and Services Providers in Canada 2023 will assist you in offering personalized investment strategies based on individual risk profiles and financial goals to provide investment advice and manage portfolios.
