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Research Outline
Prepared for Julie W. | Delivered September 18, 2019
Financial Industry Challenges
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Goals
To understand the top challenges facing wealth management firms, insurance companies, and banks (commercial and retail), in order to drive content for a client.
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Early Findings
Wealth Management
A Forbes Insights survey conducted in the 4th quarter of 2017 found that wealth managers identified keeping up with technology and staying relevant to younger investors were their
top two challenges
.
According to Advisor Perspectives, the
top challenges
facing wealth advisors are regulation, volatile markets, change in revenue models, fee-only insurance, and robo advisors.
Insurance
According to
Insurance Business,
the biggest challenges facing the insurance industry are leveraging innovation, consolidation in the industry, the rise of cyber security, and increased rates partially due to an increase in technology.
EY published an article stating that successful digital transformation and expanding distribution channels are both
challenges facing the industry
.
Banking
MX Technologies published an article stating that
three big challenges
that banks faced in 2018 were changing consumer dynamics, customer retention, and virtual assistance.
The
attached spreadsheet
provides a visual of how the data can be presented.
Proprietary Research Available
We found some
proprietary research
from one of our data partners which may be helpful:
Research section on challenges in the wealth management industry (
D
a
e
d
a
l
Research, $157.87)
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