Disruption will become a 2015 boardroom topic in the wealth management space, according to Forrester’s 2015 predictions, as a continued flow of venture capital funds opens up new opportunities for digital players. In fact, Forrester predicts the buzz around robo-advisor Wealthfront to reach new heights when the disruptor becomes a substantial player in retail financial services next year.
To keep up, Forrester predicts that at least one incumbent firm will acquire a digital disruptor to serve mass-affluent investors. For instance, Covestor or Wealth Wizards might be on the table for a retail bank like Barclays or a wealth manager like Ameriprise Financial. But while buying instead of building or partnering could work, writes Forrester, acquisitions are likely to fail.
For now, incumbent investment manager players can breathe at least one sigh of relief. When it comes to disruption from the tech giants, Forrester does not believe Google, Apple, Amazon, or Facebook will enter the retail investing space next year — although this could certainly become a reality in the years to come.
Disruption will also fill boardroom discussions at retail banks, according to Forrester’s 2015 predictions. And as a result, Forrester anticipates 2015 to be the year for innovation to move to the top of the digital banking agenda, addressing hot topics like wearables and other emerging touchpoints, as well as how to address the burgeoning mobile payments ecosystem, with the launch of Apple Pay.
To learn more about these predictions, visit the eBusiness & Channel Strategy blog.