BANKING
WEALTH MANAGEMENT AND THE ‘ NEW NORMAL ’
NO LONGER THE STUFFY
ENVIRONMENT IT ONCE WAS , WEALTH MANAGEMENT IS A
SWIFTLY DEVELOPING SPACE AND
COMPANIES NEED TO KEEP UP
WRITTEN BY : JOANNA ENGLAND
In the good old days , wealth management was a stuffy scene inhabited by older generations . It was usually managed by lifelong financial advisors who handled the portfolios and kept the investments ticking over from a discreet distance .
These days , however , the situation is very different . Those interested in managing their wealth effectively are , perhaps surprisingly , getting younger and younger . Furthermore , they are increasingly demanding , wanting to explore the latest financial innovations open to them and obtain everything at the touch of a button , no matter when or where . Nothing is as it was , and it will never be so again .
Cory McCruden is an advisor and thought leader of wealth managers , possessing in-depth expertise for digital transformation , customer experience , and fintech . Through her roles at Fortune 500 wealth manager Waddell and Reed , as Head of Client and Advisor Experience and Innovation , and RBC , as Lead for Client Experience and Digital Transformation , McCruden has helped thousands of financial advisors grow their businesses .
Speaking about disruption within the wealth manager space , she says : “ First is demographics . US $ 68tn of wealth will transition to Generations X , Y , and Z over the next 20 years . Wealth managers
40 June 2022