The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

Can digital advice help you forge stronger client relationships?

Success in the age of the customer relies on the harmony of both digital and human advice.

Strong client preference for digital channels and the pressure to grow revenue mean wealth and asset managers must rethink their strategies, operations and technologies. The insights you develop today and your near-term decisions can lead you to seize growth opportunities tomorrow and shape a brighter future – for both your clients and your firm.

EY - ArrowHow is digital impacting advice and service delivery?

Clients expect and prefer to do more digitally

Clients who say digital will be their primary channel in two to three years for:

Advice

Market and Sell
60%

Education

Engage customers
65%

Service

Differentiate value
68%

Digital advice on the rise among all demographics

Clients by asset level willing to open an account with a robo-advisor

> US $25 million

50%

US $10-25 million

63%

Projected assets under management by robo-advisors, 2020

$

EY - ArrowWhy is hybrid the ideal advice model to meet client needs?

Implementing a successful hybrid model requires deep understanding of clients and the ability to deliver the services they need through the channels they prefer.
EY - Financial planning: Digital and Human
EY - Checkmark

Benefits

  • Broader spectrum of offerings
  • Flexibility to choose digital or human advice
  • Greater focus on clients' financial well-being
  • Stronger relationships

Watch: How will digital advice models impact the role of financial advisors?

As more clients turn to digital advice channels, advisors must focus on relationship-building, goals-based planning and the overall financial well-being of their clients. By serving as “financial therapists,” advisors can enhance client experience and gain a competitive edge.

Priorities for achieving a successful digital advice strategy

Focus on client experience.
Develop a customer-centric digital advice strategy and design, identifying which services are most meaningful and attractive to your customers.
Balance service delivery.
Determine which services to automate, making certain your model offers a balance of digital and personal advice.
Capitalize on the advantages.
Leverage the perks of automated advice including accessibility, scale, consistent auditable outcomes, advisor productivity and the focus on value creation.
Modernize the advisor’s role.
Help shift advisors’ focus toward value-adding activities, like goals-based investing, financial planning and education.
Optimize digital marketing technology.
Implement the use of digital marketing technology including financial education, mobile enablement and social media management systems.
Prepare for challenges.
Anticipate how adopting a new model, along with increased use of technology, will impact business and operating models and culture.
Remember the rules.
Engage regulators around your proposed hybrid advice model, securing necessary approvals.
Focus on client experience.
Develop a customer-centric digital advice strategy and design, identifying which services are most meaningful and attractive to your customers.
Balance service delivery.
Determine which services to automate, making certain your model offers a balance of digital and personal advice.
Capitalize on the advantages.
Leverage the perks of automated advice including accessibility, scale, consistent auditable outcomes, advisor productivity and the focus on value creation.
Modernize the advisor’s role.
Help shift advisors’ focus toward value-adding activities, like goals-based investing, financial planning and education.
Optimize digital marketing technology.
Implement the use of digital marketing technology including financial education, mobile enablement and social media management systems.
Prepare for challenges.
Anticipate how adopting a new model, along with increased use of technology, will impact business and operating models and culture.
Remember the rules.
Engage regulators around your proposed hybrid advice model, securing necessary approvals.

Contact us

EY Wealth & Asset Management Digital Transformation leads

EY - David Aston
David
Aston
EMEIA
EY - Willem Chalmers
Willem Boudewijn
Chalmers
APAC
EY - Bryant Fuller
Bryant
Fuller
Americas
EY - Phil Inglis
Phil
Inglis
APAC
EY - Keith MacDonald
Keith MacDonald
EMEIA
EY - Nalika Nanayakkara
Nalika Nanayakkara
Americas
EY - Urs Palmieri
Urs Palmieri
APAC
EY - Peppi Schnieper
Peppi Schnieper
EMEIA