eNewsletter Winter 2017
Profile participated in the Middle East Wealth Management forum organised by Hubbis, presenting its range of innovative platforms for family offices, wealth management and alternative finance. Industry leaders from the financial services sector provided some interesting insights.
A brief overview of the discussions that took place includes the following:
- Disruption and digital trends: there is a consensus by wealth management firms and vendors alike that client satisfaction and fintech evolution are drivers to deploy technology solutions that enhance operations and client experience. Key points included the need for integration and collaboration of platforms to behave as one unified environment, hybrid models of robo-advisors and client onboarding mechanisms that enhance business agility and ultimately client experience. Profile participated in this panel discussion presenting its experience in terms of integration and technology evolution.
- Evolving role of IFAs: in this panel the evolution and market requirements were discussed with parallelism from the UK experience especially in terms of regulation and providers delivery to needs. The need is always for the firm to be better prepared for transparency and fees management since the models are changing and to this purpose technology providers need to deliver the mechanisms to segment client needs, transparency, and workflow of operations so as to better safeguard and advance IFAs operational efficiency.
- Family wealth evolution in the region: during this interesting discussion, it was stated that there was a huge shift from Private Banks towards family offices and IAMs to receive a more dedicated service. Private Banks in the region also change the way they provide their services to meet clients’ expectations. Single Family offices have an improved operational environment with the favourable regulatory environment to enable growth in operations.
The region creates a advantageous environment of operations and companies need to prepare to accommodate the changes in regulation, client expectations and faster analytics so as to accelerate their business and clients’ experience.
Other events to be announced shortly on the page below.