Advisors miss out on tablets
Feb 28, 2013 (Datamonitor via COMTEX) --
Applications giving wealth management clients access to investment and market information were very popular in 2012, as were applications allowing banking and trading transactions. However, despite numerous firms offering software to create applications for advisors uptake was limited. Granted, implementation is costly, but the security benefits and client interaction offer unique advantages.
Launches of tablet and mobile applications for clients to use to access information and perform transactions were popular in 2012, while tablets for advisors to improve data-gathering and the wider client meeting experience were shunned. Out of 315 wealth managers interviewed in Datamonitor's Global Wealth Managers Survey 2012, only 24% had provided their relationship managers with mobile tablet devices as of 2012.
The popularity of smartphones and tablet computers continued its unabated rise across the globe in 2012, and the new technology offers ways to revolutionize both communication channels with clients and (most prominently via tablets) the ways in which wealth managers conduct business with clients.
The benefits of using tablet computers are multiple. Not only do they make the client meeting a more interactive event, but financial planning can be easily visualized to guarantee client comprehension. Moreover, with the use of cloud technology, relationship managers no longer need to carry around folders of printed sensitive information; tablets can remain "empty" until the owner connects to the server and downloads client data on-demand.
However, tablets are costly to implement, and even more costly to lose. There is also a requirement for training. It seems that in 2012 the willingness for wealth managers to enhance the experience of their clients was placed before enhancing their own ability to conduct business with clients.
For more information about this topic please contact Edward Felmingham at email@example.com.
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