A new research piece commissioned by UK-based RegTech Recordsure is exploring the enablers and inhibitors of innovation amongst wealth and financial management firms in a Covid world.
As markets, regulations and consumer behaviours shift, there is an irony that increased digitisation is needed more than ever, yet innovating is made difficult as organisations grapple with the disruption brought about by the pandemic.
Against this backdrop, the impact on the wealth management and financial advice sector is yet to be fully realised. With a client base rich in entrepreneurs whose own financial wealth is heavily dependent on the high street, the knock-on effects to the industry could be significant.
As pressure grows on firms to demonstrate value to clients despite the disruption forced on them by Covid, digitisation has been accelerated across the industry. Change is far from over though. As the industry adapts, market players will be fighting for the same, albeit, diminished share of wallet, and must think on their feet to stay in the game.
With old challenges like risk management and quality assurance only made more difficult through remote working, the whitepaper explores the barriers preventing digital progression as well as the enablers for innovation within the industry.
Some of the sector’s longest-standing and most pioneering businesses, disruptors and forces for change have contributed their insights to the whitepaper including industry heavyweights from Standard Life, Close Brothers, The Wisdom Council, Arbuthnot Latham & Co, Heronsgate Capital, Money Honey, Wealth Dynamix and TCC.
The whitepaper ‘Time Trials: Unlocking efficiencies in wealth and financial management’ is available to download here: https://recordsure.com/whitepaper/time-trials