Evolving Digitalization and Automation in UK Wealth Management

How and where to prioritize automation and efficiency is perhaps one of the UK wealth management sector’s most pressing questions in the year ahead.

The Covid-19 pandemic shone a light on ongoing challenges and weaker areas of the wealth management industry in the UK. While much of the response was focused on the disruption to the adviser-client relationship, the impact in fact ran much deeper - testing the operational, infrastructural, and technological set up of UK wealth management businesses.

In the second quarter of this year, The Wealth Mosaic ran a series of qualitative research interviews with executives in the UK wealth management sector on behalf of Blue Prism looking into the topic of automation and efficiency in their businesses. Overwhelmingly, the research highlights that while firms are pushing for increased business efficiency, and firms are active across a wide variety of specific areas of their businesses to deliver this, a true understanding of automation to support their goals is not yet embedded in their thinking. Firms are focused more on solving the business challenges they have in front of them now. No surprises, perhaps, but they are potentially missing an opportunity.

In this live webinar, The Wealth Mosaic’s Co-Founder Stephen Wall hosted Nigel Armstrong, Senior Account Director and Head of Wealth and Asset Management Solutions, UK&I, at Blue Prism, and Ian Woodhouse, Lead Wealth Management Transformation and Thought Leader for Europe, Accenture. The panel discussed the topic across the main themes in the research – business goals, business efficiency, automation and growth and technology.