More than perhaps any other part of financial services, private banking and wealth management has always been a people business. At its heart are trusted relationships between client and adviser that frequently stretch far beyond the performance of a portfolio.
But just as with any other part of financial services in 2020, the pursuit of improved service and efficiency is paramount. Technology that leverages big data might seem to be an odd bedfellow of the bespoke, personal world of the wealth manager, but applications abound for advisers and their clients. The challenge is to use them to enhance the service rather than obstruct it. The focus now is on aligning the retirement and wealth goals of clients with their broader goals in life – and creating a more bespoke service to allow that.
Panel V: The hidden value proposition
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PANEL V AGENDA
OUR EXPERTS DISCUSS:
- What forms of technology are private banks and wealth managers investing in?
- Can new forms of digital technology and communication be used to drive portfolio performance up and costs down? How?
- How much of a threat do technology-led non-banks keen to enter the financial services sector pose to the existing order of commercial lenders and the pure-play operators providing existing private banking advice? Who are the best examples of disruption here and in what markets?
- How are you using technology to streamline, cut costs, access new customers, and boost portfolio performance, in and around your private banking operations?
- Will direct, longstanding private banking relationships between bank and customer always trump anything that technology can offer? How can the two work together?
- What role can AI play in private banking? What are AI's limitations, at present and further ahead?
- Does the older generation engage with technology — and how are you encouraging them to do so
- How can technology help with the compliance burden in private banking?
PANEL V SPEAKERS
Francois is the founder of Simple - an insights company, consultancy and global expert network that incubates, improves and services leading, purpose-driven family offices. Through his work at Simple he believes that private wealth owners can be better aligned to their investments by having a clearly defined purpose and professional operations to support. Francois is also a contributor to Forbes.com on various strategic family office topics - covering the emerging factors that have an impact on family offices and private wealth owners.
Francois grew up in South Africa in a family business environment, he has an academic background in business & strategy and has spent the last 20 years helping businesses digitalize and innovate.
Craig Iskowitz is founder of Ezra Group, a consulting firm providing technology strategy, operational improvement and research to the wealth management industry.
Craig has over 20 years of experience in wealth management, retail and institutional brokerage, and front and middle office operations. He previously worked for ADP Brokerage Services (now Broadridge Financial) for almost 10 years before becoming a consultant. Ezra Group’s clients include many Fortune 500 firms such as The Bank of New York, LPL Financial, Fiserv, AXA Equitable, and Envestnet.
Craig is also the editor and publisher of the Wealth Management Today blog and podcast, which provides interviews, analysis and news in the wealth management industry with a focus on fee-based advisory platforms.
Evgeny Kochemazov is Chief Investment Officer for A-Club. As CIO, Evgeny oversees all investment operations for A-Club private clients, including brokerage, investment research, asset management and advisory. He is also in charge of designing and maintaining complete and compelling product offer and technological solutions for A-Club clients.
Evgeny joined A-Club in November 2019. Before that he held various positions within leading Russian and international investment firms, including VTB, Aton, HSBC. Between 2009 and 2017 Evgeny was dep. CIO, Head of Fixed Income with Alfa Capital – Alfa Group’s asset management arm.
Evgeny is a highly accomplished investment professional who brings over almost 20 years of experience across asset classes in fixed income, equity, derivatives as well as across various roles in investment research, investment banking (DCM) and asset management.
Evgeny graduated with honor from the Plekhanov Russian University of Economics (2003) and HTW Dresden – University of Applied Sciences.
In his role, Christopher is focused on the entire wealth management workflow, working with technology, cloud capabilities, AI and unstructured content to support the digital transformation for wealth managers. He has been with Refinitiv in various strategic global roles, from managing the advisory and investment business for Europe to expanding buy-side capabilities to financial and risk market development.