Robo-advisors are expanding at an impressive rate and their platforms are becoming increasingly user-friendly with more sophisticated features. Nevertheless, there are notable areas of weakness that could undermine the industry’s future growth rate. On average, the 20 robo-advisors evaluated in this report scored just 52% of all available points. Digging further in the data it becomes apparent that the industry’s greatest vulnerability relates to its weak compliance with fiduciary standards and ... More >

Report: Silver Surfers in Banking and Wealth Management

New Report: Silver Surfers Require Personalized Digital Solutions from Wealth Managers
Silver surfers (digital users aged 55 and older) are usually thought of as reluctant or unequipped to adapt to new technology in investing and banking. However, the data from our survey report reveals that this common perception is not entirely true and that affluent and high-net-worth silver surfers are a more complex segment than we might give them credit for. As a consequence, digital wealth management services tailored to HNWIs aged 55 and older offer significant ... More >
Social media, and especially Twitter, offer banks and wealth managers the great advantage of engaging and monitoring high-net-worth individuals in a cost-effective and real-time manner. Our flash report looks at industry best practices, and some of the bigger Twitter do’s and taboos to provide key recommendations for wealth managers on how to build a Twitter profile that reaches and engages their wealthy clients and prospects in the most productive way possible.... More >
Wealth managers and other traditional financial services companies can gain incredible leverage by employing automated investment solutions as long as they find the best external and robo technology platform and vendor. This comprehensive report offers banks and wealth managers the hands-on guide on how to ensure they find the best robo-advisor technology provider for their needs, while vendors can access recommendations... More >
Wealth managers’ secure websites and mobile apps requiring a client log-in are lacking state-of-the art personalization and a seamless and consistent client experience, hereby missing opportunities to engage and satisfy clients. This is one main result of this report for which MyPrivateBanking analyzed and ranked the features and functionalities of the behind-the-login area of the client portals of of 15 leading wealth managers worldwide.... More >

Report: Websites for Wealth Management 2018

Wealth Managers' Websites lack Depth and Substantial Value
Desktop isn’t dead! Many wealthy clients still use these online portals regularly—and a flexible, interactive, and dynamic website that builds dialogue between client in bank is a must. The top 3 performing wealth managers in the 2018 MyPrivateBanking evaluation include two recurring players and an impressive leap in performance from a player with a previously average web presence: ABN AMRO, BNP Paribas and DBS. In total the report... More >
The report identifies the “best of the best” of digital wealth managers for the past year. Based on an in-depth analysis of the performance across the key digital touchpoints of mobile, website, and social media, this report identifies the top 21 digital wealth managers worldwide. The report then evaluate their comprehensive digital leadership and transformation strategies to determine 2018’s “top 11” digital leaders. The top leaders in this evaluation category were BNP Paribas with a full 10/1... More >

Report: What Women Expect from Digital Wealth Management - Global Survey of Affluent and HNW Women in Five Key Wealth Management Markets

Wealthy women require tailored digital wealth management
Digital wealth management offerings must specifically address the needs of female clients, which differ in many important aspects from those of male high-net-worth individuals (HNWIs). This report explores wealthy women’s attitudes toward and preferences for digital technology to manage their finances. The research is based on a panel survey in five key wealth management markets—the US, the UK, France, Germany, and Switzerland.... More >

Flash Report: Cryptocurrencies for Wealth Management 2018

Cryptocurrencies for Wealth Management - A Risk Worth Taking?
This 21-page flash report examines cryptocurrencies as investment vehicles in order to help wealth managers understand the risks and opportunities on offer—for instance, Bitcoin ETFs and Bitcoin Futures. The report includes detailed insight into the pros and cons of eight of the most popular cryptocurrencies ... More >

Report: How HNWIs use the mobile apps and digital channels of banks and wealth managers

Security concerns cause wealthy client to spurn their banks' mobile apps
Across five key wealth management markets, only 71% of affluent and wealthy individuals use the mobile apps offered by their banks and wealth managers. More than a quarter of clients still refuse to use their wealth managers’ mobile apps, mainly due to a lack of trust in the privacy and security features of those apps. The report explores in details the behavior, attitudes and preferences of HNWIs towards their wealth managers’ mobile based on a survey of the mobile needs of 1000... More >

Report: Digital Attitudes of Millennials in Wealth Management

Richest millennials have rigorous digital requirements for their wealth managers
Wealthy millennials are showing some striking contradictions in their digital attitudes towards financial matters, and wealth managers consider these when aiming to win their younger clients’ hearts. This is one main finding of the report for which we conducted a panel survey in the five key markets - the US, the UK, France, Germany, and Switzerland - addressing the digital needs and preferences of 1,000 affluent and high-net-worth individuals aged 18 to 34. Our report explores why wealth manage... More >

Research Report: Digital Innovation in Wealth Management

Wealth Managers’ Digital Innovation Budgets Grow but Fail to Focus on Bold Change
Wealth management firms are beginning to make progress on innovation, but, in many cases, the focus is still on small and incremental change rather than daring to dream big. Projects addressing deep, disruptive and strategic change do not get enough funding despite widespread agreement as to the importance of such projects for the future. This is a main finding of our report for which we surveyed 43 executives and innovation leaders at leading global wealth management and private banking institu... More >
The growth of the self-directed investor (SDI) segment to a third of the global wealth management market reflects a crucial change in the financial services landscape. The report profiles the current self-directed investor and provides wealth managers with key insights necessary for recruiting and retaining these clients. To map out the competitor landscape and offer valuable learning points the report includes a examination of 4 brokers and 3 wealth managers... More >

Report: Affluent and Wealthy Investors Attitudes towards Robo-Advisors 2017

Wealthy Clients Open to Robo-Advisors But Still Want the Human Touch
Younger and high-net-worth client segments are very open towards robo-advisors and are willing to invest significant shares of their assets with them. This is a significant finding of the report for which MyPrivateBanking surveyed 1,000 mostly affluent and wealthy respondents from the key private wealth markets - the US, UK, France, Germany, and Switzerland - for their opinions about automated investment platforms.... More >

Report: Global Robo-Advisor Benchmarking 2017

Robo-Advisors Remain a Digital One-Trick Pony
The global robo-advisor market continues to experience unabated growth. By the end of 2020 more than USD 4 trillion will be managed by robo-advisors and automated investment platforms worldwide. But despite this strong growth, the digital platforms of most robo-advisors have not developed to a point where they can meet the comprehensive needs of their investor and wealth management clients. This report’s analysis and evaluation of 31 pure and hybrid robo-advisors from 11 countries show that on a... More >
In this free webinar we are pleased to share our key findings on how wealth managers can ensure that their Big Data initiatives stand a better chance of success... More >

Flash Report: Cloud Computing for Wealth Management

Cloud Computing for Wealth Management: Blue Skies Ahead?
As the digital wealth management ecosystem grows to encompass all parts of the firm, cloud computing has become an alternative to expensive in-house technological infrastructure solutions. This Flash Report examines its key advantages and disadvantages and explores two case studies in the wealth management sector.... More >

Report: Mobile Apps for Wealth Management 2017

Wealth Managers’ Mobile Apps Lack Innovations
The wealth management industry, as a whole, suffers from complacency when it comes to mobile app strategies, which is especially problematic given that the digital wealth management industry as a whole is in transition. This is one of the key findings of this report for which we analyzed and ranked, in total, almost 60 mobile apps of 34 leading wealth managers worldwide. According to the analysis, 75% of the analyzed wealth managers provide apps that cater to the needs of wealthy clients, but th... More >

Report: Digital Offerings for Ultra-High-Net-Worth Clients 2017

Slow Progress in Wealth Managers’ Digital Offerings for the Super-Rich
Wealth managers for the super-rich are largely missing out on digital opportunities to attract and engage their high-end clientele. Only a few firms have clearly recognized and reacted to the increasing digital needs of their ultra-wealthy clients. This is one main finding of our report for which we analyzed and ranked the digital offerings targeted at the ultra-high-net-worth (UHNW) sector, defined as those with at least $25 million in investable assets, by 12 leading wealth managers worldwide.... More >
In our MyPrivateBanking webinar series on the latest digital trends in wealth management we are pleased to share our key findings of selected reports. This following exclusive seminars offers answers on some of the the most pressing questions... More >

Report: Digital Wealth Management in Asia

Digital Wealth Management Key to Winning Asian HNWIs
As HNWIs’ wealth continues to grow in Asia, highly dynamic emerging markets like China and India are moving into the focus of digital wealth management. For an in-depth assessment of the current situation and future trends, the report profiles the digital offerings of the ten leading wealth managers in each market. The strengths and weaknesses of each wealth manager’s websites, mobile apps, social media presences and overall digital strategy are evaluated... More >
In recent years, financial providers have looked for ways to leverage the power of Big Data by implementing new digital ecosystems intended to take advantage of increased data volume. Unfortunately, many of these projects have produced underwhelming returns, if not outright failure. Our report analyzes why Big Data projects in the financial services sector are often less successful than intended, and what can wealth managers do to ensure that their Big Data initiatives stand a better chance of s... More >
Digital technology is contributing to a major shift in the role of financial advisors and their efficiency. The advisor of the future will be much more a coach than a financial expert. At the same time, technology will allow advisors to handle more clients than they do now. This report analyzes the status, trends and drivers in the digitalization of wealth advisor function, presents case studies to show digitalization initiatives working out in practice and gives essential recommendations for we... More >

Report: Millennials and Digital Wealth Management 2017

Reaching Millennials – The Next Big Opportunity in Digital Wealth Management
Millennials’ net worth will double within five years and they will inherit tremendous fortunes in the decades to come. However, while wealth managers’ existing offerings for the wealthy millennial generation are insufficient, the right digital products can address this deficit effectively. Based on in-depth, face-to-face interviews with wealthy young adults our report explores how digital platforms can ultimately gain the loyalty of this broad and heterogeneous demographic group... More >

Report: Digital Account Aggregation in Wealth Management 2017

Clients and Regulators Press for Automated Account Aggregation
Wealth management clients increasingly expect to access account information from various institutions in one digital interface and wealth managers are perfectly placed to take advantage of new automated account aggregation technology. Based on an in-depth analysis the status, trends and drivers in account aggregation in the US, Europe and Asia the report predicts that account aggregation will be the new normal in wealth management over the next 5-10 years. By comparing the strengths and weak... More >
See the free recording of our webinar on the challenges financial institutions face when deciding to develop a bot.... More >

Report: Behind the Login of Wealth Managers Websites and Mobile Apps 2017

Many Wealth Managers' Websites and Mobile Apps Flounder Behind the Log-In
Wealth managers’ secure websites and mobile apps that require a client log-in perform very well in the delivery of basic capabilities, but they lack in the state-of-the-art personalization and instant communication features that would make a real difference for high-net-worth clients. This report performs a detailed assessment of the client-only websites and mobile apps offered by 15 of the largest global wealth managers and uncovers their strengths and weaknesses and identifies best... More >

Report: Chatbots for Banking and Wealth Management 2016

Chatbots and Virtual Assistants set to take over Banks' Client Interaction
Chatbots as a means of customer interaction are taking the banking sphere by storm with more bots being launched every week. For the report we screened more than 100 banks, wealth managers and challenger banks in order to identify, analyze and profile the 44 most advanced and innovative chatbots today. Additionally, the report evaluates state-of-the-art chatbots by nine FinTechs and challenger banks and as well the offerings of eight B2B bot developers. ... More >
The robo-advisory model is at a tipping point with all current players needing further development if the robo concept is to prove long-lasting. Without further refinement on the part of individual robo-advisors themselves, a substantial portion of current providers will have difficulties succeeding in the long-term. This is one of the main findings of our report for which we analyzed and ranked 30 leading robo-advisors worldwide with Schwab Intelligent Portfolios, Indexa Capital and Nutmeg on t... More >
Today, even the digital leaders among the global wealth managers are still providing an uneven digital experience, performing well on one channel, but not as well on others. There is a general lack of a coherent, overarching cross-channel strategy for serving clients. This is a key finding of the report for which we analyzed and ranked the overall digital performance of 20 leading global private banks and wealth managers. The winners of our rankings are UBS and Merrill Lynch, followed by... More >

Report: Fund and Asset Managers Digital Presence for Institutionals and Advisors

Fund Managers Struggle with Compelling Digital Offers for Institutional and Advisors
The global leaders in fund and asset management have a lot of catching up to do with regard to their digital strategies targeting institutional investors and intermediaries. This is the key finding of our report for which we analyzed and ranked the relevant digital presences of the 20 leading fund and asset managers worldwide. The overall winner of MyPrivateBankings’s ranking is Invesco, followed by Vanguard and... More >
While mobile devices continue their triumphant advance in the digital arena, the world’s leading retail banks are struggling to keep up with the fast-paced development of the innovative digital features their customers demand. These are key findings of the report that analyzes and ranks the mobile apps of 35 leading retail banks worldwide and, where applicable, the Apple Watch apps. In total, 130 apps were assessed according to 49 criteria. This year’s winner is again BNP Paribas with ... More >

Report: Websites For Wealth Management 2016

One-third of Wealth Managers' Websites Need Complete Relaunch
There is a growing digital divide between those wealth managers who offer engaging and client-friendly websites that are continually updated and improved, and those who are lacking in a number of key areas. This is a key findings of our report for which we analyzed and ranked the desktop and mobile websites of 35 leading wealth managers worldwide. Based on 36 criteria for the desktop websites and 21 criteria for the mobile websites. The overall winner of this year´s ranking wis ABN Amro, followe... More >

Report: From Disruption to Innovation in Digital Wealth Management

Wealth Managers Need a Fresh Approach to Innovation to Master the FinTech Challenge
Global wealth managers are embracing innovation, but in many cases they are not really addressing the deep strategic change that is putting the industry under more and more pressure. This is a key finding of this report, for which MyPrivateBanking surveyed 40 executives and innovation leaders of the leading global wealth management and private banking institutions. About 30% of respondents expect their innovation budgets to rise more than 20% within one year, and about half of these expect growt... More >
Too many robo-advisors demonstrate gaps and weak spots in the critical areas of digital onboarding and client assessment. While the robo phenomenon is here to stay, many of the robo-advisors will not survive. These are main findings of our new report for which we analyzed over 75 active robo-advisors in 13 countries and determined how to create a presence that succeeds in persuading website visitors to sign up as investors and then stay on board... More >

Investor Survey Report on Robo-Advisors and Wealth Management 2016

Robo-Advisors gain popularity with High-Net-Worth investors
The majority of affluent and high-net-worth individuals recognize the potential of robo-advisors and automated investment services to add value to their wealth management services. This is a main finding of MyPrivateBanking’s recent quantitative panel survey, with insights from 600 affluent and wealthy investors in the US and the UK. More than 70% of overall respondents think that such tools can positively influence their wealth manager’s advice and decision-making process and... More >
Hybrid robo-advisory strategies represent a paradigm shift in the pace and path of change in the wealth management industry. We estimate that hybrid robo services will by 2020 grow to a size of USD 16,300 billion. This number constitutes just over 10% of the total investable wealth in 2025. This is a key finding of our report “Hybrid Robos: how combining human and automated wealth advice delivers superior results and gains market share"... More >

Report: Social Media for Wealth Management 2016

Wealth Managers Need to Better Exploit Social Media
Wealth managers are still slow to effectively make use of the possibilities offered by Facebook, Twitter and other extremely popular social media platforms. For our report we analyzed the social media performance of more than 200 wealth managers worldwide, but found only few that manage to exploit social media’s viral marketing opportunities, such as ... More >

Report: Websites for Fund and Asset Management 2016

Top Fund Managers Slow to Provide Competitive Websites
The websites of the global leaders in fund and asset management fail to meet the highest standards in user experience and interactivity. This is a key finding of the new report which analyzes and ranks the desktop and mobile sites for individual investors of the world’s top 15 fund managers. The fund managers TIAA-CREF, Fidelity and Franklin Templeton top the ranking... More >