Wealth and the Crowd

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Information about Wealth and the Crowd

Published on January 21, 2014

Author: wiprotechnologies

Source: slideshare.net

Wealth and the Crowd Expanding horizons of the wealth management business 1 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

HIGHLIGHTS Investment Advisory beyond High Net Worth clients Serving a broader wealth spectrum Financial uncertainty of the past few years has forced investment professionals to look beyond traditional clients for business. It is now viable to cater to the less wealthy if advisors adhere to the four Rs. Mass affluent and young affluent segments can potentially grow into larger clients. 2 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Introduction • • Wealth managers can no longer limit themselves to HNW and UHNW clients The Crowd: Mass affluent (MA) and young affluent (YA) groups – – – Wealth mobility: They can grow into HNW clients, possibly over multiple generations Exhibit disruptive investment ambition with more interest in aggressive strategies Larger and diverse group, many have origins overseas or possess dual citizenship Investor Demographics 3 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Barriers to Success • • To serve MA and YA clients, advisors need to understand their lifestyles Technology has to be leveraged to cater to the crowd in a client-friendly manner Dated CRM Patchy data and poor coordination between teams make it impossible to cater to a large client base (as against a handful of HNIs) Technological disconnect Infeasible to maintain MA and YA relationships without social media and mobility Data complexity Over time, ad hoc data structures were built around new products. These are not scalable to the extent required by the crowd A complete process revamp is the way forward for catering to the crows 4 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Enhancements Reputation Perception based on performance, products and strategy • Social media analytics • Timely redress of issues • Sentiment monitoring Data security is a newfound concern, particularly where social media is concerned Trust and familiarity with clients Mobility essential for YA and MA • Intelligent recommendations • Timely responses • Better CRM Relationship depends more on service quality and less on personal touch • Advanced analytics • Availability on different media • Good visualization Crowd looks for not just strong returns, but also for accurate reporting • Multiple, seamless channels • Self-service option • Agility – Build once, deploy to many YA is technology centric, MA requires a mix of personal touch and technology enabled services Routes Reporting Relevance Relationship Four Rs of the Crowd 5 Real-time access to insightful data in easy-tounderstand formats Channels through which customers stay in touch with advisors © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL Deviation from Tradition

Conclusion • • Multi-channel offering – Benefits all investor classes (YA, MA, HNW, UHNW), albeit by varying degrees • Social media as a data farm – Networks provide an opportunity to tune the advisory business to investor needs • 6 From narrow-yet-deep model to the Crowd – MA and YA clients are the next growth segments in investment management Frailties and risks in technology – Technology cannot be leveraged/scaled before cleaning up business processes © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

For more details please visit the link below: http://www.wipro.com/Documents/wealth-and-the-crowd.pdf 7 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

About Wipro Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology"; helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability; Wipro has over 140,000 employees and clients across 61 countries. For more information, please visit www.wipro.com. 8 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Thank You ©Wipro Limited, 2013. All rights reserved. For more information visit www.wipro.com No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation clients should take advise from their client engagement manager. 9 © 2013 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

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