The rise of bionic wealth

A transfer in wealth from baby boomers to younger generations is underway, and it’s reshaping the banking industry. See what Forbes Insights has to say about the future of wealth management and the successful use of technology.

In this Forbes Insights survey report, more than 60 wealth managers and 35 high-net-worth (HNW) clients share their perspective on the evolving banking experience — how they communicate, their needs and the importance of technology.

Key findings:

  • 42 per cent of wealth managers believe a mix of digital and offline communication is ideal
  • 34 per cent of HNW clients want either digital-only or a mix of digital and offline communication
  • 62 per cent of HNW clients say the digitization of wealth management services is good overall but they still want to meet often with an advisor
  • 17 per cent of HNW clients say technology is essential
  • 48 per cent of HNW clients rate cyber risk and hacking as top technology concerns
  • 45 per cent of wealth managers believe detailed analysis of financial results and performance is the best way to build trust with clients