92% of the world’s wealthy population are using digital solutions extensively to inform their wealth management transactions according to a study, which survey 3,025 individuals with an average wealth level of $2.9 million, released by Scorpio Partnership and NPG Wealth Management.
The study, titled The Futurewealth Report 2014: Upgrading the service delivery, also finds that while the adviser is still seen as the crucial linchpin in wealth management, financial technologies are becoming more actively used. More than half of respondents are attracted by the knowledge gathering potential of online accounts. The most popular online activities are reviewing markets, finding information about securities and undertaking performance analysis. Moreover, over 50% long on at least once a month to carry out these activities.
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Mac Stevens, chief executive of NPG, said: "The research emphasises the importance of a personal delivery in the wealth management transaction. But it also highlights that, for customers to be truly satisfied, their human contact at a firm must be supported by digital capabilities and efficient processes."
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