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Use technology to tackle customer asset personalization challenge, says report

It was most prevalent in respondents from Latin America (70%), followed by Asia-Pacific (47%) and Europe (33%), with North America last (22%).

As noted by news site Wealth Briefing, corporations such as UBS are moving into a largely affluent area in the US, where robo-advisory platforms use digital technology and the like to achieve profitable economies of scale. Importantly, the stakes for effective personalization are high. Across the industry, it is hoped that the technology will allow businesses to provide personalized care to customers without employing a large workforce.

The 13 countries included in the report were Australia, Brazil, Canada, China, France/Monaco, Germany, Hong Kong, Japan, Mexico, Singapore, Switzerland, the United Kingdom and the United States.

“Today’s consumers have grown not only to appreciate, but to expect a more ‘know me’ experience from the companies they choose to interact with. It is no surprise that when it comes to their investments They would expect the same level of personalization,” said April Rudin, chief executive officer of The Rudin Group. “Financial advisors are waking up to this notion and actively developing their proposition, but as this study outlines does, there is much work – and opportunity – still ahead.”

According to the report’s authors, “advisor recommendations” are the most reliable source of information for 58% of advisor-led investors and 62% of hybrid advisors and self-directed clients.

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