Wealth Managers have to deal with a tough context of low rates, growing burden of regulations, fierce competition and clients requirements. Revenues models have been shifting from inducements to transparent fees. The knowledge of client is crucial with high level of performance for relationship managers, and smart innovative solutions. Growing the AuM and Mutualizing the cost of platforms with mergers and/or outsourced process are also strong challenges for private bankers.
Listed below are some of your new challenges:
- Customize products and services to clients (dedicated Luxembourg funds creation, client experience with smartphones and tablets, enhanced reporting quality, explore robots-advisor solutions…)
- Reshape Business model to cope with MIFID2 constraints on discretionary portfolio management and prohibition to collect inducement fees
- Develop synergies between WM and contractor banks
- Smoothen KYC Onboarding processes
- Adapt systems to comply with new regulations
- Develop digital approach to better know your clients (speech to text, sentiment analysis, smart data) and improve client journey
Our consultants have been working at the heart of these transformations and can help you take on these new challenges. Listed below are some of the many expertise Aurexia consultants have to offer but are not limited to:
- Business: Support Commercial department with challenges such as segmentation, pricing, sales plans, governance, communication; Support/Manage mergers and platforms convergence,
- Process: Design new Target Operating Models, process reviews (transfers, life insurance & securities orders, static data, investment client performance), Systems migration (Portfolio Management System & Core Banking system), Migration towards a new BPO platform
- Regulatory: MIFID2, AML, PRIIPS, IDD, etc.
- Digital : RPA automation opportunities, Ai Fintechs to assist Managers on investment solutions and client needs, DataViz and Data intelligence