Middle East Wealth Management Forum 2020 - Exclusive Insights - Tomasz Bortnik

Tomasz Bortnik of Citi

Jan 31, 2020

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1. Delivering investment products and advice to clients – time to re-think everything?

Video transcript

1. Delivering investment products and advice to clients – time to re-think everything?

See, contrary to the common belief, for instance, we thought that the machines are going to completely take over, and robot advisory will become the theme. I think the answer to the question whether it's time to rethink everything is yes and no. No, because we do seem to see the traditional model still work. We see the role of the advisor as still being crucial to the high net worth individuals and the ultra-net worth individuals; they are not going to log in and listen to a machine. Also, because the machines, despite all the technological development, cannot judge the personality of the client, and a whole bunch of other personal characteristics, and his preferences. It's very difficult to put them into a machine code. That is one thing. I would say, no, as in some of the things that we traditionally have been doing as an industry, they still keep on working. Yes, because there is a lot of innovation and, yes, because there are disruptors. There are FinTech companies, there are all sorts of people that are kind of entering the market, making it more exciting, more diverse. I think pretty soon, you will have to have the, especially, the technology. In the technology space, you will have to complement the traditional advice with a lot of technological advancements, be it portfolio tracking, penetration, portfolio stress testing, et cetera. Those things, I think, to name a few, would be key to answer that question.



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