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CORE Discussion Forum “Disruption in the Wealth Management Industry” June 1, 2017
AGENDA
Disruption in the Wealth Management Industry Three key factors: 1. Changing Consumer Behaviour 2. New and Increasing Regulation 3. Disruptive Technology
2
CHANGING CONSUMER BEHAVIOUR Millennials will rule the world Ranging in age from 20-36 now, they are entering their prime earning years and will soon be inheriting their baby boomers parents’ wealth
3
CHANGING CONSUMER BEHAVIOUR
4
CHANGING CONSUMER BEHAVIOUR They generally distrust financial institutions since the 2008 crisis Many don’t trust their parents’ financial advisors Given this distrust, wealth management firms need to: – Provide clarity around fees and performance to gain trust – Leverage digital communication channels to improve understanding, transparency and service
5
REGULATION 2008 financial crisis was the impetus for more regulation New and evolving, unlikely to subside soon Traditionally a barrier to entry into Financial Services – Complex requirements, burdensome and difficult for small new organisations to adopt
Now we see the reverse – Wealth management firms are hampered by complex processes and governance they have built up around risk and regulation
Growing body of complex regulations such as Point of Sale, Best Interest Standard, CRM2 and now CRM3 that lend themselves to solutions that leverage technology.
6
THE HYPER-ADOPTION OF TECHNOLOGY 38
Time to Reach 50 Million Users:
years
INVESTORS Hyperadoption: More people adopting more new product experiences more rapidly than ever before
13 years
4 years
3 years
1
9
year
months
1 week POKEMON GO
DISRUPTIVE TECHNOLOGY
88% 8
DISRUPTIVE TECHNOLOGY What financial activities do you believe your customers already conduct with FinTech companies?
9
DISRUPTIVE TECHNOLOGY
What do you think are the most important areas to address customer retention in the context of new FinTech competition?
10
DISRUPTIVE TECHNOLOGY As a financial institution what are the most relevant technologies for your business that you plan to invest in within the next 12 months?
11
Date: June 27, 2017 Register at: http://investorcom.com/en/conference/
12
Thank You! Anthony Boright President & Co-Founder Leveraging technology and process change to deliver InvestorCOM Inc. innovation is the cornerstone of our business [email protected] Mobile: 416-543-9944
AGENDA
Disruption in the Wealth Management Industry Three key factors: 1. Changing Consumer Behaviour 2. New and Increasing Regulation 3. Disruptive Technology
2
CHANGING CONSUMER BEHAVIOUR Millennials will rule the world Ranging in age from 20-36 now, they are entering their prime earning years and will soon be inheriting their baby boomers parents’ wealth
3
CHANGING CONSUMER BEHAVIOUR
4
CHANGING CONSUMER BEHAVIOUR They generally distrust financial institutions since the 2008 crisis Many don’t trust their parents’ financial advisors Given this distrust, wealth management firms need to: – Provide clarity around fees and performance to gain trust – Leverage digital communication channels to improve understanding, transparency and service
5
REGULATION 2008 financial crisis was the impetus for more regulation New and evolving, unlikely to subside soon Traditionally a barrier to entry into Financial Services – Complex requirements, burdensome and difficult for small new organisations to adopt
Now we see the reverse – Wealth management firms are hampered by complex processes and governance they have built up around risk and regulation
Growing body of complex regulations such as Point of Sale, Best Interest Standard, CRM2 and now CRM3 that lend themselves to solutions that leverage technology.
6
THE HYPER-ADOPTION OF TECHNOLOGY 38
Time to Reach 50 Million Users:
years
INVESTORS Hyperadoption: More people adopting more new product experiences more rapidly than ever before
13 years
4 years
3 years
1
9
year
months
1 week POKEMON GO
DISRUPTIVE TECHNOLOGY
88% 8
DISRUPTIVE TECHNOLOGY What financial activities do you believe your customers already conduct with FinTech companies?
9
DISRUPTIVE TECHNOLOGY
What do you think are the most important areas to address customer retention in the context of new FinTech competition?
10
DISRUPTIVE TECHNOLOGY As a financial institution what are the most relevant technologies for your business that you plan to invest in within the next 12 months?
11
Date: June 27, 2017 Register at: http://investorcom.com/en/conference/
12
Thank You! Anthony Boright President & Co-Founder Leveraging technology and process change to deliver InvestorCOM Inc. innovation is the cornerstone of our business [email protected] Mobile: 416-543-9944
