Cost cutting or client service is a bogus dilemma, Wealth Wizards tells wealth managers

Wealth management faces much the same challenge as other forms of asset management: the fact that costs are rising faster than revenue. The consequent squeeze on profitability is encouraging many wealth managers to explore how technology can help restore a more comfortable expense ratio. But it is in the nature of wealth management to place service on at least an equal footing to efficiency. Which is why Wealth Wizards, a 12-year-old FCA-regulated technology provider to the industry, emphasises that the purpose of its systems is to not to cut costs but to make sure the provision of financial advice by experts is affordable. Indeed, the company holds that technology can make expert advice available to everyone, not just the wealthiest investors. Dominic Hobson, co-founder of Future of Finance, spoke to Nick Hall, head of advice at Wealth Wizards, about how the Turo software as a service platform can be used by wealth managers to free up time to spend profitably with clients at any level of income or wealth. Hosted on Acast. See acast.com/privacy for more information.