New Finantix Report Confirms Importance of a Highly Personalised Approach to Investment and Wealth Planning Strategy

  • Wealth Management
  • 07.10.2020 11:14 am

Finantix, the leading global provider of trusted technology to the wealth management, insurance, and banking industries, and in collaboration with WealthBriefing, published “Together, we can make it! Co-Creation in Wealth Management” part three in an ongoing series of original research and expert analysis based papers.

Following the outbreak of Covid-19, experienced and novice investors alike are turning to their wealth managers for investment interpretation and advice. Our report highlights how the number of clients looking to change adviser increased by 32% on the number before the pandemic struck. Firms clearly need to reassess client retention strategies in order to protect existing business and increase growth potential in uniquely challenging times.

According to a Gartner report from August this year: “Client-facing tools and enhanced digital interactions are priorities for wealth firms, but offerings currently fall short of meeting both firm and client expectations. CIOs delivering the digital experience can enhance digital empathy by optimizing digital collaboration.”(Gartner “Enhance Collaboration Capabilities in Client-Facing Technology to Improve the Digital Experience,” Darrin Courtney, 18 August 2020).(1)

The report underscores that poor investment performance does not automatically or exclusively trigger high levels of client dissatisfaction. Unsatisfactory service experience is the biggest factor, influencing 87% of HNWIs to change provider(2). Poor communication is four times more likely to end relationships than poor investment performance. In this light, the report explores the nature and role of a co-creation approach to the client/adviser relationship. Through this approach, firms develop highly personalised strategies with as well as for their clients. 

A June Gartner report states: “No matter how volatile the environment, wealth management firms need to provide a digital experience that meets client technology preferences. Chief information officers can ensure success by addressing inherent biases and designing solutions that meet needs across multiple channels and segments (Gartner “Eliminate Bias Now: Support All Wealth Management Technology Preferences in Any Environment,” Darrin Courtney, 10 June 2020).(3)

The appetite for a more responsive service is not wholly attributable to the current crisis. Even before Covid-19, some 80% of surveyed clients(4) anticipated that they would have different wealth priorities within five years. In this context, Alessandro Tonchia, Co-Founder and Head of Strategy at Finantix, confirmed that: “When change impacts suddenly and significantly, you want a holistic view of the client and all the relevant variables and options to enable the most informed, useful and beneficial discussions.”

Rapid access to highly contextualised client data, the report suggests, is the foundation of firms’ ability to create holistic client views. Yet, pre-crisis, around 70% of wealth managers(5) grappled with weak data management and multiple systems-based complexities. Almost half of firms surveyed reported using four or more different systems just for portfolio management and reporting. This is at a time when client appetite for personalised and digitised communication is growing. Industry research emphasises that even before Covid-19 close to 50% of HNWIs(6) wanted to see greater use of digital tools by wealth managers.

This appetite can be met and higher service levels delivered through application of appropriate technology, our report contends. We also show that this can potentially be achieved at reduced costs.

A number of expert analysts and practitioners were involved in the production of The Case for Co-Creation in Wealth Management including senior executives from wealth management firms, global consulting practices, online wealth manager portals and specialist technology developers for the industry.

Request a copy of “Together, we can make it! Co-Creation in Wealth Management” here and copies of the two previous reports here.



  1. Gartner “Enhance Collaboration Capabilities in Client-Facing Technology to Improve the Digital Experience,” Darrin Courtney, 18 August 2020
  2. Capgemini “World Wealth Report 2019”
  3. Gartner “Eliminate Bias Now: Support All Wealth Management Technology Preferences in Any Environment,” Darrin Courtney, 10 June 2020
  4. Aon “Innovate to Succeed: The Client Call to Action for Wealth Management” 2019
  5. WealthBriefing “Technology and Operations Trends in the Wealth Management Industry” 2018
  6. “HNWI Client Survey” 2020

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