The slow rate of change is often attributed to the difficulty of grafting new technology on to existing IT systems.
“The social media and website piece is much easier to do,” said Tom Brown, global head of investment management at KPMG, the professional services firm. “It is much more difficult to get into digital solutions built off core infrastructure..."
The poll found that wealth managers are doing better on the implementation front than asset managers that concentrate on institutional investors and less-affluent retail investors. In part this is because they have been more proactive in targeting millennials, and also because they need to forge a closer relationship with individual clients..."
Source: Financial Times