Trends Report

Wealth Management Firms Are Enabling The Mass Customization Of Financial Advice

May 27th, 2020

Summary

Advances in and adoption of digital technologies by wealth management firms are making the mass affluent investor segment appealing and profitable to them. Wealth management firms and registered investment advisors (RIAs) are seeking white-label solutions to bring better digital investing experiences and lower costs throughout the investor lifecycle. Incumbent banks are pursuing similar strategies through acquisitions and organic growth to create cohesive wealth management offerings for the mass affluent investor. Morgan Stanley has diversified its customer base because only 7% is comprised of self-directed investors, compared to 48% of E-TRADE’s customer base.

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