Although the terms “wealth management” and “financial planning” refer to different aspects of financial advisory, they are mutually complementary. Such services are offered to individual customers e.g. by banks. What is wealth management and financial planning?
Living in a post digital revolution world, most would agree that we have sacrificed much of our privacy for the sake of convenience. Unfortunately, sacrificing privacy can also mean sacrificing security and that presents a serious challenge for banks who are in the industry of security.
The service digitisation process which may be observed for more than a dozen (if not more than twenty) years does not skirt the financial sector. What should the wealth management service look like in the digital transformation era and what strategies can be adopted by the institutions offering them?
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