Mobile Wealth Management: Key Lessons and Case Studies



Verdict Financial

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This is the final section of a three-part series looking at mobile private wealth management for both advisors and clients. This report details five industry-leading apps that span the market from retail investors to the dedicated HNW segment and look at both advisor- and client-facing apps. Mobile apps from Charles Schwab, Coutts, Citi Private Bank, IRESS, and SunGard are profiled.

Understand the key features needed for both client-facing and advisor-facing apps.
Benefit from practical insight on rolling out mobile apps.
Find out which technology vendors are serving the mobile wealth management space.
Learn from case studies of mobile wealth app deployments. Profiles include Charles Schwab, Coutts, Citi Private Bank, IRESS, and SunGard.

What are the key functions that apps must contain for the HNW individual?
Which features give advisors the tools to hold interactive client meetings with minimal time investment?
Where will mobile apps generate the highest returns for wealth managers?
Which features are leading wealth managers including in their apps?
Who are the key technology vendors servicing the mobile wealth management space?

Key Highlights
Wealth managers are fairly heterogeneous, with different business models, target groups, product suites, and service capabilities to offer; as a result their use of the mobile channel will also be varied and diverse. However, regardless of the type of wealth manager, the mobile app or site must fulfil a need.

According to Verdict Financial's 2012 Financial Services Consumer Insight (FSCI) Survey, 33% of affluent mobile banking users cited the app being too slow and 10% cited bugs in the software as reasons for ditching a mobile banking app. A poorly laid out app that is rejected by users risks frustrating future use of the mobile channel.