Pandemic was a catalyst for technology use and will lead to permanent changes in investors’ behaviour
Around 64% of investors in Asia Pacific plan to use more digital and virtual tools, while 61% said they plan to engage more with their adviser virtually, a report by EY found.
As a result of the pandemic, however, 49% of respondents expect the relationship with their wealth manager or adviser to become less personal from a human interaction perspective.
“Customers are increasingly relying on [digital] tools to analyse their investments and manage their wealth more efficiently, but financial services firms have to find a way to also leverage technology to bring more value and curated options,” said Elliott Shadforth, EY Asia Pacific wealth & asset management leader.
Over half of clients will pay more for better service
Over half of clients will pay more for better service
More than one in two advice clients say they wouldn’t mind paying more for a service that was more specifically tailored to their needs, according to new research from a major global consulting firm.
A
EY’s
Global Wealth Research Report surveyed 2,500 wealth management clients in 21 markets including Australia and found that 55 per cent of Australian clients would be willing to pay more for personalised service. This was slightly higher than the global figure of 53 per cent of clients who were happy to see higher fees for more personalisation.