Global Banking and Finance Review Exclusive
Digital experience strategy: Capitalizing on the $84 trillion wealth transfer
September 13th, 2024
The financial landscape is on the cusp of a monumental shift: Baby Boomers are set to pass down an unprecedented $84 trillion to younger generations over the next few decades.
To succeed, financial advisory firms must adapt by creating a digital experience that’s aligned with what Millennials and Gen Z expect: seamless, personalized, and intuitive interactions. The question financial institutions must ask isn’t just, “Are we prepared for the wealth transfer?” but rather, “Are we equipped to deliver the experiences that will keep us relevant?”
“This transfer of wealth is a huge opportunity for wealth management firms. Delivering the digital experiences younger generations expect presents considerable challenges, but the potential rewards are staggering. What’s more, this will change how the industry operates, so those who don’t adapt will be left behind.”
In this article, see step-by-step how financial advisory and wealth management organizations can adapt from a high-touch approach that emphasizes building personal relationships to serving digital natives who are completely comfortable making significant purchases digitally with little or no human interaction. Start the conversation today and ensure your firm is ready to lead the way at this pivotal moment.