Focus: Creating Connections
Operational Resilience: Protect Investors & Enhance Compliance
Disruptions to critical, or important business services can have far-reaching consequences not just for the financial services, but national economies and consumers.
In this event, Ruleguard provides a snapshot of the UK’s operational resilience framework, outlines key requirements of the EU’s Digital Operational Resilience Act (DORA) and how operational resilience aids transparency and builds trust with consumers.
For further information click here.
Scotsman Investment Business Breakfast
The Scotsman Investment Business Breakfast will show investors how to best position themselves in the financial year to come. This year’s conference will cover a wide range of themes, such as impacts of global shifts on investment, trends for 2025, the importance of sustainability and alternative investments.
The 2025 event will be a breakfast event providing the opportunity to discuss and debate a broad spectrum of investment-related issues in the current economic climate, with a focus on the future.
For more details, please get in touch with the event manager, Cameron Henderson- cameron.henderson@nationalworld.com
Morningstar Investment Conference UK
Don’t miss the 19th edition of the Morningstar Investment Conference UK on May 7, 2025, at Sancroft, St. Paul’s, London!
This engaging one-day event offers valuable insights into market trends, strategies, and research tailored for financial advisers and fund selectors. With customised content tracks, attendees can choose the topics that matter most to them. Leading experts and influential speakers will address the key issues shaping the investment landscape.
Expect dynamic presentations, interactive panel discussions, and excellent networking opportunities covering market outlooks, portfolio management, investment strategies, and regulatory updates. Stay ahead in today’s fast-paced market—register now.
Any question please contact: Sarah Rouse or email: investment.conferenceuk@morningstar.com
PIMFA Webinar: The Duty to Prevent Sexual Harassment
On 26 October 2024, a new section of the Equality Act 2010 came into force, placing a new duty on firms to take reasonable steps to prevent the harassment of a sexual nature of workers in the course of their employment.
In this FREE 60-minute webinar, employment law experts from DAC Beachcroft LLP will explore what the newly established legal obligation is, means in practice and what steps should be taken to avoid falling foul of the new law as well as for employers regarding the prevention of sexual harassment in the workplace taking a deep-dive look into how PIMFA member firms, can simply and effectively create a culture of accountability and openness, where employees feel empowered to report incidents of any form of harassment without fear of retaliation.
Time has been set aside on the webinar to ask our experts how these changes impact your firm’s responsibilities and employee rights, showcasing how leading firms are building a safer and more inclusive work environment.
Key points discussed:
• What is the new duty?
• Key responsibilities of employers
• Recognising, addressing, and preventing harassment
• Reasonable steps
• Strategies for encouraging bystander intervention and promoting respectful workplace behaviour.
• Consequences of non-compliance
• Can we expect further change?
Wealth Management: Finding the Industry’s iPod Moment
Wealth Management: Finding the Industry’s iPod Moment
When I left my first city job back in 2006, my colleagues gifted me an iPod. At the time, I didn’t fully grasp its value and left it boxed for over a year. Eventually, I gave it a go, and it completely transformed the way I experienced music. My CD collection, once a source of pride, was relegated to memorabilia, later encased in a friend’s clear flooring—a quirky reminder of the shift in how music was consumed.
This experience feels oddly parallel to where we stand in WealthTech today. The industry is brimming with innovative technology, but its value remains underappreciated or misused. Much like my pre-iPod music world, wealth management is struggling with outdated systems and the challenge of integrating new tools into a legacy infrastructure. Without a unifying leap forward—a “Bluetooth moment”—we risk limiting the full potential of emerging advancements.
The Industry’s Tipping Point
Nearly half of IFAs (Independent Financial Advisers) are expected to retire in the next five years. This inevitable shift is fuelling a wave of consolidation and represents a golden opportunity for the next generation of business leaders to reshape the status quo. Digital transformation is no longer optional; it’s essential. However, transformation doesn’t have to mean adopting fully automated robo-advisors. Instead, it’s about harnessing technology to improve efficiency and refocus on what truly matters: building relationships and delivering value.
A significant roadblock is integration—or the lack thereof. Across the supply chain, too much time is spent transferring data manually between systems. In few other sectors do key personnel waste so much time wrestling with outdated processes. My iPod moment came when a colleague helped me load my entire music library. Suddenly, I had access to a vast collection, streamlined for every context: jogging, reminiscing, or hosting a party. It revolutionised my relationship with music, much like better integration could redefine wealth management workflows.
Streaming, But Not Yet Streaming-Ready
In a previous blog, I touched on the need for streaming-style services in wealth management: low-cost, high-accessibility, and client-centric solutions. But the reality is that many businesses aren’t ready for this kind of disruption. Without tackling the challenge of integrating legacy systems, the industry risks skipping a crucial evolutionary step.
Wealth management has yet to experience its iPod moment, let alone its Spotify revolution. To unlock the benefits of cutting-edge technology, we must first embrace solutions that bring cohesion between the old and the new. The tools for automation and AI are already accessible; what’s missing is a willingness to take that leap, often requiring a champion within the organisation to show the way.
Platform 3.0:
Consider the emergence of Platform 3.0, the new generation of investment platforms. These promise richer functionality, tighter integration, and even innovative business models, such as Adviser-as-a-Platform. However, integration challenges remain. Asset allocation processes, for example, are still disconnected. Similarly, portfolio products rely on a supply chain push model with minimal coupling due to a lack of straight-through processing. Advisors influence where assets are directed, but the upstream inefficiencies often go unnoticed.
In an integrated ecosystem, the industry could achieve far more. Advisors could offer bespoke products tailored to specific investor groups, while discretionary portfolio managers could keep allocations aligned with greater precision. Platforms would better manage liquidity and inventory, and fund managers at the top of the chain could expedite the release of funds and special share classes. The result? More choice, lower costs, enhanced risk management, and improved outcomes for end investors.
Andrew Spence, of Aspen Advisers, has often presented the game changing effect that multi-platform integration could have on the model portfolio (MPS) landscape.
Commenting on his vision, he stated that “The Aspen business was initially going to be fully customisable portfolios – the optimal mix of assets for a client’s circumstances and needs – in a move away from traditional “cookie cutter” models. But it was a non-starter across multiple platforms. So, we needed to scale that back and offer advisers a complete CIP experience using model portfolio building blocks. Still, multi-platform integration of this scale takes time and resource. Better integration is badly needed”.
Tikker are working with Aspen to automate Portfolio Operations cross-platform, bringing this evolution within reach.
Overcoming the CD Era
Right now, the wealth management industry feels stuck in its pre-iPod phase—juggling stacks of CDs, painstakingly organising them, and dealing with inefficiencies that make progress feel like an uphill climb. Worse still, these inefficiencies ripple through the supply chain, consuming valuable time and increasing the risk of errors.
What’s needed is an iPod moment: a unifying system that bridges legacy technology and modern tools, streamlining processes to unlock new possibilities. With integration and automation, the industry can shed its clunky inefficiencies, empowering advisors to focus on delivering genuine value to clients.
The Next Generation’s Opportunity
The next wave of wealth management leaders holds the key to this transformation. They must embrace technology not as a threat but as an enabler of better client experiences and operational efficiencies. This might mean prioritising solutions that balance creditworthiness with operational risk, acknowledging the role of custodians in securing holdings.
By bridging the gaps between legacy and modern systems, the industry can evolve into something far greater. The question is whether today’s leaders will seize the opportunity—or let it pass, leaving the wealth management sector to languish in an outdated era. For those ready to embrace change, the tools are already within reach. What’s needed now is the courage to press play.
Tom Whittle, Founder, Tikker
LGT Wealth Management 2025 Summer Internship Programme
PIMFA Live Online Training: Operational Resilience Self-Assessment: Writing and preparing your document to meet the FCA’s March 2025 deadline
Are you ready to demonstrate operational resilience by 31 March 2025?
Be under no illusion your firm’s Operational Resilience Self-Assessment document will be the first item the FCA requests to see when assessing your firm’s ability to deliver important business services throughout operational disruptions such as cyber-attacks, technology failures or third-party disruptions.
And with the FCA’s deadline of 31st March 2025 fast approaching for boards of enhanced SMCR firms to review and approve their written self-assessment, now is the time to ensure this essential document demonstrates to the regulator your firm’s ability to prevent, adapt to, respond to, and recover from disruptions.
Helping you get your report right first time
In this live, tutor-led online course, Richard Preece, Chair of PIMFA’s Operational Working Group, assists you to avoid the pitfalls firms make when drafting your self-assessment, ensuring that you can:
1. Clearly articulate the FCA expectations for your firm’s operational resilience self-assessments, including the required elements (important business services, impact tolerances, mapping, scenario testing, lessons learned, vulnerabilities, and communication strategy). You will receive guidance on the size and level of detail of the Self-Assessment document that’s proportionate to your firm’s activities.
2. Construct a comprehensive self-assessment document that effectively demonstrates your firm’s full compliance with the regulation. This includes understanding the appropriate format, size, and content of the document. Time on the course has been allocated to provide guidance on addressing challenges like proportionality, consumer harm mitigation, and justification of methodologies.
3. Identify and effectively manage key challenges associated with operational resilience, particularly those relating to outsourcing (both intra-group and third-party), and 4th parties. Through case studies and examples, your trainer will offer practical solutions and best practices to mitigate third-party risks.
4. Implement a process for regularly reviewing and updating the self-assessment document to reflect changes in the business, market conditions, and lessons learned. Your trainer will emphasise the nature of the self-assessment and strategies for ongoing maintenance and governance.
5. Follow a proven plan to enhance the sophistication of the self-assessment process over time, improving the maturity of your firm’s operational resilience practices. The course will assist you in making progressive improvements in mapping, scenario testing, and vulnerability remediation, particularly when there is a significant change to the business.
Who should attend this course?
• Board members who have questions or doubts about their firm’s Self-Assessment seek assurances that ‘nothing has been missed’ before approval is given.
• Senior Managers, typically the SMF24, who, in updating the firm’s self-assessment, seeks to articulate how the firm plans to address the vulnerabilities to remain within the set impact tolerances in line with FCA expectations.
• Heads of Operational Risk and Compliance looking to benchmark with their peers how their firm evidences the effects of disruptions and ensure financial stability.
Bring a colleague along for free!
Use voucher code XCEMPQ5U at checkout for 50% 2 tickets!
PIMFA Associate Members Briefing 2025
Join us for the 2025 Associate Members Briefing on May 20, 2025.
We will explore topics such as regulation, operations, taxation and others and provide an opportunity to discuss with PIMFA staff specific issues important to the membership.
This event also showcases our ongoing events and publications programme providing examples of how Associates can engage with Members and maximise the value they receive from their membership.
Attendees will also benefit from networking opportunities with other industry professionals.
This event is free for PIMFA Associate Members. To book your place please go to tickets and complete the registration form. If you have any questions please email us on events@pimfa.co.uk
Please note – you must be logged in to your PIMFA account in order to see and book your tickets.
Event Details:
Date: 20 May 2025
Venue: To be announced – central London
Time: 16:00 – 18:30
FREE for PIMFA Associate Members
PIMFA Under 40 Forum 2025
For the past 7 years, PIMFA has run the Millennial forum of individuals from our membership. This has since become the Under 40 Leadership Committee.
Its purpose is to bring together bright minds to debate, research and consider pressing issues facing our industry. Their findings result in a report, which is published and widely circulated. You can download the 2023 report here.
At the event on February 12, The Under 40 Forum members will be presenting their findings from their work this year. The day will also welcome industry expert speakers.
This year’s group are researching the following topics, the results of their findings will be presented at the event on February 12th:
1. Does the industry focus on cost undermine value?
2. How can firms better target other demographics to improve their long term viability?
3. How do M&A affect existing and prospective client outcomes?
Event details:
Date: 12 February 2025
Timing: 14:00 – 18:00
Please contact events@pimfa.co.uk if you’d like to attend.
Senior Leadership Summit 2025
The event is open to senior member firm colleagues and strictly by invitation only. The aim is to provide a forum where relevant content will be presented and an opportunity for you to network with your peers will be provided.
The event is open to Wealth Management firms CEOs and nominated guests only.
If you have any interest in sponsoring or have any questions about this event please email events@pimfa.co.uk
PIMFA Annual Reception 2025
Due to the huge popularity of this event we are releasing a total of 5 tickets per firm in this instance. This might increase closer to the time if capacity allows.
This will be a great opportunity to network with industry colleagues, industry stakeholders and to celebrate all the great achievements the industry has collectively achieved in 2023.
Early booking is recommended, to book your place please contact the team on events@pimfa.co.uk
We look forward to seeing you there!
Event details:
Date: 3 June 2025
Timing: 18:30 – 21:30
Please contact events@pimfa.co.uk if you’d like to attend.
PIMFA Compliance Conference 2025
We are proud to announce that the PIMFA Compliance Conference 2025 will be taking place on September 25th 2025, in London AND online.
This event, now a regular fixture in the PIMFA calendar to highlight key issues raised across our working groups, is aimed at compliance professionals in the investment management and financial advice world. The event will bring together best in class sector speakers, and a high-level audience who can engage with the experts to facilitate fruitful discussions on the latest issues affecting our sector.
The agenda is currently under construction, but an indication of topics we are looking to explore are below:
– PIMFA review of the past year, and horizon scanning for the next
– The Regulator’s Perspective; key messages for PIMFA members from the FCA
– Hear from the Compliance Professionals – what is keeping them up at night?
– Connecting the dots on Cyber Security
– Operational Resilience – six months on, how are firms doing?
– Leveraging Artificial Intelligence to meet compliance challenges
– Ongoing Services Review; what it means for PIMFA members
– Consumer Duty; the landscape since implementation
– Customer Vulnerability; an update since publishing the guide
– The evolution of the ESG agenda
The Compliance Conference will be live-streamed on the day of the event and if joining virtually you will have the opportunity to ask questions live to speakers and panellists. Those attending in person will have the opportunity to network with fellow industry colleagues, speakers and sponsors. When booking your ticket please be sure to choose the correct option – IN-PERSON or VIRTUAL.
If you have any questions or have any interest in speaking or sponsoring this event please contact events@pimfa.co.uk to find out more.
PIMFA Roundtable: Avoiding A Culture of Complacency
Culture lies at the heart of strengthening your approach to Consumer Duty, Financial Crime, DEI and Vulnerable customers. Yet, despite the frequent reminders from the FCA, wealth management firms still need to work on demonstrating to the regulator how they can positively shift the culture needle.
Through role plays, scenarios and case studies, our experts in this free, invite-only roundtable discussion unpack:
- Why Culture remains central to the FCA’s supervisory model
- How to reset and refocus your approach to Culture to meet heightened FCA expectations
- How leading firms cut through the complexity to stay ahead of emerging Culture and Conduct risks
PIMFA Learning: Customer Vulnerability: Applying and Implementing PIMFA’s guidance in your firm
Customer vulnerability is a complex area that PIMFA member firms must get right. Ultimately, it is about identifying customers with vulnerable characteristics and ensuring they consistently experience good outcomes. That’s not as easy as it sounds, especially when The FCA has made clear that it will apply a vulnerability lens to its ongoing supervisory and enforcement work.
This live tutor-led training course delivered by vulnerability experts at the Money Advice Trust, based on PIMFA’s recently published 160-page guide, “Understanding Customer Vulnerability”, supports wealth managers and financial advisors who want to improve how they can:
- Embed a focus on vulnerability into their strategy and culture.
- Ensure they are asking the right questions about the data, management information, and data they need to deliver the right outcomes and experiences for customer vulnerability.
- Account for customer vulnerability in product and service design.
- Actively monitor customer behaviour and consider potential vulnerability in customer interactions.
- Support and enable customers with characteristics of vulnerability to disclose their needs.
- Capturing and retrieving information about vulnerability during subsequent customer interactions
By enrolling on this course, you’ll be able to answer with confidence the following questions:
- How do you identify customer vulnerability, and what criteria do you use for this assessment?
- What specific support mechanisms are in place to assist customer vulnerability throughout their interaction with your firm?
- How do you tailor and test communication strategies to ensure that customers with vulnerable characteristics understand the products and services offered?
- Are your services and communications accessible to all customers, including those with disabilities or other barriers?
- How do you monitor the effectiveness of your support for customer vulnerability, and what metrics do you use?
- What procedures do you have in place for escalating the needs of customers with characteristics of vulnerability to senior management or specialised teams?
- How do you ensure that products and services offered to customers with vulnerable characteristics appropriately meet their needs?
Who Should Attend:
- SMF holders who require the knowledge and understanding to promote a culture of awareness and responsiveness to vulnerable clients in line with current and future FCA expectations.
- Sales & Marketing Directors tasked with ensuring that the firm’s financial promotions and customer communications don’t exploit vulnerable consumers.
- Compliance and Risk leaders that want a proven framework to better recognise, assess, and manage potential risks related to customers with characteristics of vulnerability .
- Regulatory risk professionals and in-house counsel who, having identified evidence of consumer harm or risk of harm to customers in vulnerable circumstances, need to develop a remediation strategy to avoid assertive supervisory and enforcement action.
- Internal auditors who wanting to ‘up their firm’s game’ seek to ensure effective monitoring and reporting mechanisms are in place to track how the firm identifies and serves customer vulnerability, evaluating both the processes and the outcomes.
Offer: Bring your colleague along for free – please enter code 6JZWEFP5 at checkout.
PIMFA delighted to welcome two new members to its Board of Directors
21st November 2024
PIMFA delighted to welcome two new members to its Board of Directors
PIMFA, the trade association for wealth management, investment services and the financial advice and planning industry is delighted to welcome Andy McGlone, Chief Executive of Quilter Cheviot and Charley Davies, General Counsel at Evelyn Partners who joined its Board of Directors this month (November 2024) and bring with them a fantastic array of skills and experience.
Andy was appointed Chief Executive of Quilter Cheviot in January 2019, and of Quilter Cheviot Financial Planning in January 2022. Previously, he was Head of Quilter Cheviot’s London office with overall responsibility for the front office functions based out of its Head Office, including the private client investment teams, and the research and dealing teams and was Managing Director of London Investment Management from 2015 to 2018.
Charley joined Evelyn Partners in 2022 as Group General Counsel from Provident Financial Group PLC, the London Stock Exchange listed specialist bank, where she was Group General Counsel and Company Secretary. Prior to this she served as General Counsel and Company Secretary at Cabot Credit Management. During her time at Cabot, she also served on the Board of their industry body, the Credit Services Association as a Non-Executive Director. She has also held senior positions at Lockton, the insurance brokerage, and insurer RSA group.
Liz Field, Chief Executive of PIMFA, commented: “I am delighted to welcome Andy and Charley to our Board. Their skills, experiences and expertise will be an invaluable resource and a fantastic addition to PIMFA. I look forward to working with them all as we continue to deliver member value on a myriad of critical issues across our industry. Their strategic insights and direction on how we rise to meet the challenges, opportunities and priorities for the years ahead will be vital”.
Andy McGlone, Chief Executive, Quilter Cheviot, said: “PIMFA plays an important role in our industry, and I am looking forward to working with Liz, the PIMFA team and my colleagues on the Board to champion financial health across the UK. Through this work we will continue to support members and their clients and push for positive change as the face of our industry continues to evolve”.
Charley Davies, General Counsel, Evelyn Partners, commented: “As the voice of the industry, PIMFA represents the sector to government and the regulators alike. I look forward to being part of the Board to help direct our priorities as the regulatory, political and economic landscape continues to evolve and we address the various complexities and challenges this brings to ensure we support our member firms and their clients at every turn”.
<ENDS>
NOTES TO EDITORS
About PIMFA – the Personal Investment Management & Financial Advice Association
- PIMFA is the trade association for firms that provide wealth management, investment services and the investment and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
- The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
- PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families to charities and pension funds, all the way to trusts and companies. Associate members provide professional services to the PIMFA community.
- PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
- PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more.
- Further information can be found at pimfa.co.uk
Contact
For further information on this release or other press matters please contact:
Sheena Gillett, PIMFA Communications & PR Director – sheenag@pimfa.co.uk,
+44 (0)20 7011 9869 / +44 (0)7979 493225.
How employers can manage the increasing mental health issues amongst younger workers
Contact details: Stephanie Pollard (stephanie.pollard@clydeco.com) | +44 7843 833 106
Mental ill health is one of the leading causes of sickness absence in the UK but look beyond the headline statistics and we see that younger workers are disproportionately impacted by mental health issues.
Join us for a special webinar where Counselling Psychologist Mr Simon Brittz from HCA Healthcare will join Employment Partner Chris Holme to look at how employers can manage the rising mental health issues amongst younger workers 💼
Our speakers will give their expert insights on what is driving the rise in mental health issues among younger workers, spotting the warning signs that an employee is experiencing difficulties and key practical steps employers can take to support their employees, manage legal risks and prepare managers to deal with mental health issues.
📆 28 November, 12:30-1:30PM GMT
PIMFA Learning: The SMF Regulatory Briefing Programme 2025 – All You Need to Know About Everything That Matters Most
What the FCA expects from Senior Managers
The FCA takes the competence of your Senior Managers very seriously. Upon applying to become an SMF, the FCA expects an individual to demonstrate a high level of skill and knowledge to carry out the role, supporting their application by completing a skills gap analysis, learning and development plan, and competency assessment.
Remaining Fit and Proper
But the regulator’s scrutiny of an SMF doesn’t stop at the application stage. The FCA expects your firm to ensure that your SMF holders continue to possess the requisite skills, particularly concerning the latest regulatory developments. Annual fit and proper assessments, mandated by the regulator and conducted by your firm, are not a ‘tick box’ exercise requiring you instead to carefully assess whether your senior managers are competent in performing their roles.
The solution
PIMFA’s new 12-month ‘SMF Regulatory Briefing Programme’ supports SMF holders in learning everything they need to know about the issues that matter most to them. It also prepares prospective SMF holders for the highest level of leadership. The programme consists of a series of live, monthly, online one-hour sessions on critical compliance, risk and financial crime challenges, enabling SMFs to:
- Keep up to date with the latest regulatory trends and initiatives
- Demonstrate their commitment to regulatory proficiency
- Access the training at a convenient time, through our on-demand learning platform
- Document CPD activity as required
Highlights and key outcomes
By enrolling on ‘The SMF Regulatory Briefing Programme 2025’, SMFs will be able to:
- Evidence to the FCA their in-role competency and capability required under SMCR.
- Rapidly assess the firm’s compliance exposure and vulnerabilities.
- Get ahead and make sense of a broad, complex, and ever-evolving regulatory and compliance landscape.
- Set priorities to develop a proactive regulatory change management programme.
- Lead your firm on how best to mitigate risks, create a firm-wide compliance culture, make sound decisions, and build resilience across the business.
- Improve their strategic thinking and ability to respond to regulatory change effectively.
- Explore with peers the latest research and best practices for managing risk to safeguard enterprise value.
Session format
Each session includes a mix of expert-led presentations, real-world case studies and small group discussions.
Programme topics and schedule
Through 12 sessions, SMFs develop the knowledge and insights on the latest regulatory changes and compliance challenges required to protect their firm’s assets, reputation, and competitive advantage.
Format: 12 x 1-hour monthly sessions
Delivery: Live, expert-led online learning sessions
Start date: 28 Jan 2025 – 11th Dec 2025
Duration: 12 months
“I Want to Break Free” (from Operational Complexity): Building Scalable Wealth Management Operations for Growth
Imagine wealth managers humming along to Queen’s “I Want to Break Free”, but with a twist: the tune becomes an anthem not just for freedom from constraints, but from the web of operational complexity. Just as Freddie Mercury sang of breaking free from constraints, today’s wealth managers are being driven to shed operational burdens, streamline processes and rethink their operating models.
So how can they “break free”?
In an industry where client demands are increasing, wealth managers face the complex task of balancing operational efficiency with comprehensive service offerings. As financial products and channels proliferate, traditional operating models become cumbersome and costly, requiring wealth management firms to rethink their approach.
Historically, firms have relied on management frameworks to streamline processes and reduce costs, but these efforts often yield only temporary gains. To achieve sustainable efficiency, wealth managers need to move from short-term fixes to strategic programmes that refine the entire operating model. This means aligning cost reduction with long-term goals, and distinguishing between essential complexity that drives value and redundancy that dilutes it. Embracing advanced technology is essential as automation, data analytics and self-service options reshape both back- and front-office productivity. This technology-driven transformation frees up advisers to focus on value-adding tasks, ultimately improving the client experience while reducing overheads.
But successful transformation goes beyond technology. A systematic, holistic approach that prioritises projects based on tangible outcomes – targeting both internal efficiencies and client-facing improvements – has proven most effective. For example, by establishing KPIs that track real productivity improvements, firms can more accurately measure the impact of their investments and adapt in real time to evolving market needs.
Back-office transformation is emerging as a cornerstone of operational excellence, linking efficiency to revenue growth. By embracing these strategies, wealth managers are positioning themselves not just to meet today’s demands, but to lead the industry with adaptable, scalable models that are poised for future success.
Tariq Khan
Head of Sales and Business Development, Objectway
Useful Staff Survey
Usefull Staff Survey
