What are the opportunities and challenges for the year ahead? - Damien Piper

Damien Piper of Finantix

Mar 20, 2019

Damien Piper, Regional Director, Asia at Finantix discussed the wealth management opportunities and challenges for the year ahead.

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1. What opportunities and challenges do you see for the year ahead?

Video transcript

1. What opportunities and challenges do you see for the year ahead?

I think there's a balance of both great opportunities this year, and also some major risks. I see, for example, just on a personal basis, that the stock market hasn't corrected itself majorly in a long, long time, so it could be an interesting and challenging year for profitability for a lot of, let's say, high end wealth managers. But also, maybe on the more positive side, I think technology is really enabling now proper, let's say, agility in delivery and customer servicing, so we see lots of opportunities in simple things like speeding up the onboarding times to actually save, let's say, both OpEx, but also enable, let's say, share of wallet much quicker for banks. Today at the event, I spoke to one of the major wealth managers here, and their percentages of basically unfunded accounts was astronomical, so just by getting the core basics right, then you are going to earn a lot more money.

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