Do you need help with wealth management? The sector being in full digital upheaval, you wonder what are the innovations? What will this change for investors? Focus on the digital transformation of wealth management advice!
A wealth manager like Agorafinance in Paris, is a professional in charge of optimizing your wealth on the financial, legal and tax aspects. To do this, he begins by carrying out an asset assessment which allows him to know your personal and professional situation in order to draw up your portrait, in particular concerning your taste for risk, your objectives and the expected gains.
From this moment, the wealth management firm recommends the best investments appropriate to your wealth depending on whether you are looking for risk, profitability, the transmission of wealth or financial flows that allow you to cover your daily needs. .
To carry out all these services, the wealth manager is increasingly using digital tools, the digital transformation being underway in the real estate sector as explained in detail.
Moreover, this is at the heart of the concerns for 67% of wealth management consulting professionals. This translates into the possibility of subscribing to an online asset management contract, an online consultation and archiving system and interfaces that allow you to modify and carry out operations on the contracts directly from this space.
These computerized tasks facilitate the daily work of wealth management firms in Paris in particular, allowing their employees to focus on their core business, namely real estate investment advice.
The shift to digital wealth management even allows to go further with automated advisory platforms. They are known as robo-advisors and robo-advisors. As defined here, this automated wealth manager is responsible for managing portfolios online using an algorithm involving very limited human intervention. The robot thus gives advice to its investors on purchases and sales, these funds decide to act on them or not. It therefore essentially has a role of recommendations which result from algorithms and not from a personalized study of your situation as is the case when assets are managed in a more traditional way.
Although these robo-advisors do not appeal to all customers and are sometimes seen by professionals in wealth management advice as a competitor who could take a share of the market from them, in reality they are the logical continuation of the digitization of asset management.
Moreover, the two systems can rather be seen as complementary. This is already the case for nearly half of the professionals who use them or are prepared to do so to improve the quality of the advice they provide to their clients.
For investors, this allows them to benefit from more appropriate advice to grow their portfolio. And above all, this system of robo-advisors is less expensive, which makes it possible to democratize wealth management by opening it up to those who have less savings. It was often reserved for those who had assets of at least €250,000.
In addition, the service is intended to be simpler and accessible at all times. But the impossibility of speaking to an advisor is a hindrance for many investors. The success of the transition to digital is then to reconcile the two. Part of the service would be automated to provide customers with more efficient solutions that meet their expectations.