Advances in technology touch all of our lives, but the world of wealth management often seems like it is stuck in the stone age. A new survey on investor preferences and habits – conducted by YouGov on behalf of Netwealth – asked investors which aspects of technology they would value the most to help them manage their money.
The YouGov survey showed that 56% of respondents regard hassle-free access to information about their investments as the top benefit of technology. This would enable them to see how their investments are performing at any time of the day.
Source: YouGov 2018
We are pleased to say that we already offer the top four of the five benefits that investors believe technology can bring.
Technology is a great enabler, but not everyone benefits
The evolution and embrace of technology continues apace. A British Bankers’ Association paper¹ in 2017 found that the adoption of mobile banking had soared to 19.6 million users in the UK.
Yet when it comes to providing easy access to – and visibility of – clients’ investments the wealth management industry is often a laggard.
For forward-looking companies technology is a powerful enhancer of modern wealth management services. It enables clients of firms such as Netwealth to interact with their portfolios at any time and be fully aware of their performance.
However, technology is not a substitute for the trust that comes with experienced people giving personal advice and making investment decisions on behalf of clients. At Netwealth, we believe that pairing technology with human advice is the most powerful combination of all.
Please remember that when investing your capital is at risk.
1British Bankers' Association (now part of UK Finance): 'An app-etite for banking'
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 1,014 adults, of which 798 had £50k+ in investable assets, and were defined as an 'investor'. Fieldwork was undertaken between 24th - 27th May 2018. The survey was carried out online