Wealth Management Trends in the Age of Digital Transformation

The Covid-19 pandemic had far reaching ramifications, extending well beyond its devastating impact on the health of millions of Americans.

It disrupted the way we interact with each other, turning “Zoom” into a verb. Advisors now routinely schedule client meetings via videoconference. These meetings, which used to take 3-4 hours with travel time included, can now be completed in 45 minutes or less.

64% of executives believe non-face-to-face interactions will be permanent.¹

This change has created new opportunities for both advisory firms and clients. No longer are either one limited by geography. It’s just as easy for an investor in Massachusetts to interact with an advisor in California as with one a few blocks from their residence.

Wealth management trends aren’t all the product of Covid-19. Clients are looking for a different approach to wealth management.  Their needs may differ depending on their age.

Here’s a summary of some wealth management trends in the age of digital transformation.