Digital Transformation in Wealth Management

There is no question that the retail wealth management industry is evolving. Population and advisor aging, digitization toward a hybrid investor experience, rise of fee-for-service, rise of lower-cost products, and trends toward client best interest are just some of the forces driving this evolution. As a result, retail wealth management dealers need to review their distribution models and adapt quickly in order to compete.

For firms that are undertaking digital transformation in wealth management, our new business model canvas is designed to help quick start the strategic rethinking of value propositions and service designs.

In addition, the challenges that come with digital transformation in wealth management and the rapid changes affecting the industry are tempered by a strong set of technological opportunities. Here are a few:

Cloud Computing in Financial Services

The fast adoption of private cloud solutions in the form of SaaS or PaaS offers wealth management firms the opportunity to augment their agility while optimizing their costs. From full solution to microservices and wealth management APIs, wealth management firms have the opportunity to consume or assemble solutions efficiently.

Big Data, Small AI

Leveraging large amounts of data and robotic process automation (in combination with smart algorithms) can lead to major efficiencies and—ultimately—the achievement of a fully computerized operation. This allows for human advisors to focus on the high-touch interactions that clients value and appreciate.

Personalized Client Engagement in Wealth Management

Advisors can now provide more engaging services to their clients. Technology makes it easier for advisors to detect investor engagement opportunities or create a more engaging platform. Mass customization and personalization techniques can make the process efficient and effective at the same time.

Univeris continues to invest in its product line in response to these trends by putting SaaS and Wealth Management APIs on your roadmap:

The next generation of Univeris’ private cloud, FLEX 2.0, will include new API versions to offer low-cost products. In particular, our fully unified API for retail wealth managers, IRIS, avoids the API orchestration-tribulation challenges many firms will face through the use of too many inconsistent services.

Goal-tracking addresses both the opportunity related to Big Data and personalized engagement. Offering new opportunities for advisors to engage and celebrate milestones with clients is a great way to combine high-touch opportunities and low-touch digital engagement for smaller investors.

Want to know more about digital transformation in wealth management? Request a free demo here or email us at

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