The wealth management industry is undergoing a transformation

As EY warns, wealth managers need to stay ahead of their clients’ rapidly evolving needs and expectations for digital transformation.
Here are some recent findings that highlight distinct advantages digital platforms over traditional AWM services:

1. Access: Anytime, Anywhere
Digital wealth management platforms provide 24/7 access to portfolios via user-friendly interfaces. This contrasts with traditional brokers, who often require scheduled meetings or phone calls, limiting flexibility. As EY’s research shows many clients in Luxembourg are willing to switch providers for digital platforms offering continuous portfolio access.


2. Speed and Efficiency
Real-time reporting and instant insights are the hallmarks of digital platforms, delivering unparalleled speed and efficiency. Traditional asset managers, on the other hand, often contend with delays due to manual processes. Additionally, digital platforms with lower fees challenge the high-cost structures of traditional asset management. Deloitte predicts that in 2025, Investment management firms face a pivotal moment where integrating emerging technologies like generative AI could lead to substantial rewards, raising industry standards.


3. Empowering Investor Independence
The shift in user experience is profound. Digital platforms put decision-making directly in the hands of investors, promoting autonomy and control. A study by McKinsey indicates that 80% of HNWI trust digital wealth platforms, reflecting comfort in technology for managing investments – citing benefits such as cost- effectiveness (59% of customers), greater transparency (61%), and personalized investment strategies (57%).


4. Security as a Foundation of Trust
In an era where trust hinges on digital integrity, these platforms leverage latest encryption technologies to protect assets, reinforcing confidence in the evolving financial ecosystem. Digital AWM platforms providing granular access controls and end-to-end encryption can ensure that only authorized personnel can access or modify specific files. Advanced encryption methods protect data from potential breaches, even during transmission across networks.


At Finmars, we’re committed to shaping the future of investing by integrating advanced technology with enduring client relationships – combining efficiency, security, and a personalized approach. The future of wealth management is unfolding. How can we help you shape your journey?