Latest Insightsmore on Latest Insights

Report: Digital Leaders in Wealth Management 2018

BNP Paribas, Merrill Lynch and Credit Suisse ranked as Digital Leaders in Wealth Management

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

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 >

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 >

Free Webinar: November 15, 2017

Big Data for Wealth Management - A Practical Guide for Successful Implementation

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 >

Report: Millennials and Digital Wealth Management 2017

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

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: 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 >

Report: Mobile Apps for Banking 2016

Banking apps must up their game to grab Millennials' interest

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: Hybrid Robo-Advisors 2016

Hybrid Robos will Manage 10% of Investable Assets by 2025

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 >

New Report: Banking on the Apple Watch

Banking on the Apple Watch: Time to Deliver Apps that Excite Clients

Despite the rapid market growth of smartwatches, and in particular the Apple Watch, the Apple Watch banking apps are not living up to their promises. This is a key finding in our report for which we analyzed and ranked the Apple Watch banking apps offered by 22 leading retail banks... more >

Report: Mobile Apps for Banking 2015

Banking apps are still failing to engage and attract customers, and in today’s fast-paced mobile technology environment, banks remain preoccupied with the provision of basic features. The winners of our 2015 ranking are DBS Bank (Singapore) and BNP Paribas (France). Runners up are ... more >

Event Presentation 03/2015

Our head of research, Steffen Binder, was recently invited to present our research on the impact of the mobile revolution for wealth management and private banking. We offer members of the MyPrivatebanking Research Community the main charts on the trends, usage numbers, best practices and conclusions for free. ... more >

Briefing 05/2015

The Apple Watch has been described as watch-like, but more of an extension to a phone. Will it evolve from this and will it play a leading role as part of a broader wearables trend thanks to Apple’s leading edge marketing?... more >

Global Survey of Mobile Disruption in Wealth Management 2014

Wealthy Shifting Financial Matters to Mobile Channels - Chinese HNWI Digital Winners Worldwide

More than 80% of the affluent/high-net-worth individuals worldwide use apps or mobile websites for financial matters. The Chinese are the most advanced users of mobile technology when it comes to their financial affairs. For instance, 96% of Chinese respondents are using mobile apps for financial transactions and information, whereas... more >

Report: Mobile Apps for Fund Management 2014

Only 10% of Fund Managers Worldwide Offer Mobile Apps

The vast majority of leading fund managers lack effective mobile apps strategies. This is one of the main finding of our new report "Mobile Apps for Fund Management 2014 - A critical channel to reach investors", which analyzes the mobile apps of 20 leading wealth managers worldwide and ranks Invesco, Franklin Templeton and Vanguard in the Top 3... more >

Report: Mobile Apps for Insurance 2012

Insurance Companies Miss Potential of Mobile Apps

Adoption of mobile apps in the insurance industry is still at a very early stage. For our new report we benchmarked a total of more than 100 apps offered by 30 leading insurance companies worldwide. The overall winner of the app ranking is the French AXA insurance group, followed by the AEGON group in second place and AVIVA in third. But less than 10% of global insurers have comprehensive app strategy ... more >
FinTech Trendsmore on FinTech Trends

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: 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 >

Flash Report: Cloud Computing for Wealth Management

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: 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 >

Report: Big Data for Wealth Management

Wealth Managers' Big Data projects often fail due to poorly planned implementation strategies.

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 >

Report: Wealth Advisor Digitalization

Digitalization enables wealth advisors to be more efficient, compliant and client-friendly

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: 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 >

Free Webinar - Wednesday, March 1, 2017

Chatbots - How Financial Institutions Should Employ Virtual Assistants

See the free recording of our webinar on the challenges financial institutions face when deciding to develop a bot.... 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 >

Report: Leading Robo-Advisors 2016

Robo-Advisory model at a tipping point and only those willing to change will survive

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 >

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 >

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 >

Report: Robo-Advisors 3.0

For Robo-Advisors a Better Customer Journey Becomes Matter of Survival

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

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 >

Report: Crowdfunding and Wealth Management 2015

Crowdfunding: a Major Threat to the Global Wealth Management Industry

Despite the explosive growth and potentially disruptive impacts of crowdfunding on private banks and wealth management companies, interest in crowdfunding on the part of the wealth management industry has remained very low. ... more >

Robo-Advisors Report 2015

The disruptive effects of robo-advisors and automated investment services to the traditional wealth management industry are growing. Whereas the market development in 2014 was dominated by the launch and growth of start-ups, established wealth managers have started to strike back and are opening up to the robo-trend ... more >

Report: Digital and Mobile Solutions for Financial Advisors 2015

Wealth managers’ traditional model of providing financial advice is under attack by computers with increasingly cognitive abilities, taking over tasks ranging from risk assessment and portfolio allocation to financial planning and tax optimization. But wealth managers can fend off these threats by applying the right technology themselves... more >

Robo-Advisors Report 2014

Assets Managed by Robo-Advisors will Skyrocket to $255 billion within Five Years

Robo-advisors, primarily web-based wealth management providers that offer automated investment services, will grow rapidly and pose a real threat to the business models of conventional wealth managers. Global assets under management (AuM) of the robo-advisor services will reach $14 billion by ... more >
Websites & Social Mediamore on Websites & Social Media

Report: Behind the Login of Wealth Management 2018

Wealth Managers’ Client-Only Websites and Mobile Apps Need More Personalization and Integration

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

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 >

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: 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: Digital Wealth Management Offerings for UHNWs

Super-rich get only poor Digital Services from their Wealth Managers

Digital wealth management for the super-rich today is at a very immature stage. For our new report we analyzed the digital offerings targeted to ultra-high-net-worth clients by 12 leading private banks and family offices worldwide. We found few firms who have clearly recognized and reacted to the increasing significance of digital tools for their UHNW clients... 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 >

Report: Websites for Wealth Management 2015

In the sixth annual global analysis and ranking of the desktop and mobile websites of 40 leading wealth managers worldwide, MyPrivateBanking Research has selected the Top 5 wealth management website portfolios. ABN AMRO is the overall winner of this year´s ranking with 90 points (out of a maximum of 100), followed by DBS and Investec with 82 points respectively.... more >

Briefing 04/2015

Gamification has developed into an important tool for financial services firms to reach out to clients, prospects, job seekers, employees and other stake-holders. This brief encourages wealth management firms to use gamification as part of their digital strategy, it shows best practice cases and suggests strategic recommendation... more >

New Report: Social Media in Banking and Wealth Management

Over the last two years banks have improved their overall presence in social media, as the 20 leading banks worldwide have at least one presence on the major channels like Facebook, LinkedIn and Twitter. There are also encouraging levels of engagement with the visual social media channels Instagram and Pinterest.... more >

Report: Websites for Wealth Management 2014

Mobile Wealth Management Websites Trail Far Behind Desktop Web Siblings

This year’s benchmarking study shows that the global leaders in wealth management and private banking are on the right track with their desktop websites. However, their mobile websites, being largely neglected, represent a major weakness in the overall digital strategy of these firms. ABN AMRO Private Banking was able to defend last year’s top spot and ... more >

Report: E-Publications for Wealth Management Clients 2013

Despite the current electronic publishing revolution, many wealth managers are not yet offering a balanced portfolio of publications via electronic media for their clients. Although basic features, such as technical quality, prove to be satisfactory, the most critical shortcomings are in the areas of content offered and available media formats. ... more >

Analysis by Steffen Binder, Research Director

In his seminal work, ‘Competitive Strategy’, the world-renowned Prof. Michael Porter has identified five major forces that shape competition and success for the players in every industry. If you look at social media through the perspective of these five forces, the consequences they unleash for the competitive dynamic in the banking sector become very clear.... 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 >
Future Trendsmore on Future Trends

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 >

Report: Wealthy and Affluent Self-Directed Investors 2017

Wealth managers can keep self-directed investors by giving them control, not by lowering fees

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: 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 >

Report: Digital Leaders in Wealth Management 2016

Majority of wealth managers lack a coherent strategy; few perform robustly across all digital channels

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 >
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