From time to time topics are emerging about what we expect in the future, what the trend will be, where the world is heading to, what the next huge hit will be in a particular area. The story is the same in the field of Wealth Management where today the highly proclaimed topic is digitalization.
Yes, the term digitization is quite broad and encompasses several subdivisions but as a common ground we can talk about computerization. Like in all areas of life, computer and software interweave the Wealth Management too and it will not able to work without that anymore. Perhaps in the near future we will receive advice from and talk about our advisors on our smartwatches. Paper based risk profile questionnaires can totally disappear because all required information may be obtained from our social media or other previously set up profiles. Moreover, it may be possible that computer algorithms (maybe with some artificial intelligence) can learn and read from our pictures and determine our personality and thus can give us the best investment advice. We do not know yet which of these will be the shoo-in and of course further innovations can come into picture but one is for sure: their breakthrough is unstoppable.
Read the whole story here: 5 Sci-Fi Trends in Wealth Management