Posts Tagged ‘Banks’

Many robo-advisors are thriving with growing customer bases. Not only are they flourishing, they’re partnering with – and in some cases being acquired by – traditional institutions that offer wealth management services. Take UBS, for example. The company’s wealth management division recently formed a strategic alliance with SigFig, a robo-advisor that will help develop solutions […]

I love headlines like this: J.P. Morgan Creates Executive Role to Lead Cloud Services. It helps me understand what’s important to a company and tells me that a company’s focus area is real. As financial services companies continue their efforts to become more efficient in a time in which regulatory demands and low interest rates […]

As much as they are disruptors of sorts, traditional banks view robo-advisors as healthy. They represent a challenge for incumbents, one that will ultimately result in better customer experiences. Financial institutions believe that the foundation of what they do is not going to go away; however, it puts pressure on them to focus on the […]

While your clients may have never obtained advice from traditional wealth management companies, the times are changing through the introduction of robo-advisors. Unlike traditional human-to-human financial advice, robo-advisors provide personalized, automated financial advice based on algorithms. They work without the need for human intervention, making such advice cost-friendly and ultimately eliminating common high-net-worth membership figures. […]

According to Investopedia, wealth management is a “service that combines financial/investment advice, accounting/tax services, retirement planning, and legal/estate planning for one fee.” While that definition is an oversimplification of the term, it’s safe to say that wealth management has historically been a service for high-net-worth individuals. For purposes of our conversation, note that Investopedia indicates […]

The wealth management industry is undergoing a serious transformation with traditional methods of providing financial advice being disrupted by new and innovative forms of technology. With the unprecedented widespread adoption of the internet and digital devices, customer expectations have changed. Clients expect a flawless customer experience that requires businesses, products, and services to be available whenever and wherever they want. It’s that simple. Companies […]

Lloyds Banking Group, a company with 30 million customers under several brands, including Lloyds Bank, Bank of Scotland, and Halifax, has put forth additional cost-saving measures to help the company weather poor economic conditions and to better meet customer expectations. On top of the 9,000 jobs and 200 retail branches the bank outlined to eliminate […]

A couple of weeks ago, I shared a brief overview of a new rule the U.S. Department of Labor (DOL) recently finalized. While it’s certainly nothing to laugh about, comedian and host of “Last Week Tonight with John Oliver” the man himself, John Oliver, was able to make light of it. In fact, as of […]

I recently received a letter from American Express, warning me about a data breach that occurred with a third-party service provider several years ago. Although the letter doesn’t name the company who suffered the breach, it does mention that I’ve done business with them. The letter goes on to say American Express will continue to […]

Anonymous, an international network of hackers, recently pledged to take on the financial services industry in a 30-day cyberattack campaign called “Operation Icarus,” more commonly referred to online as #OpIcarus. While the information about the group’s plan is somewhat spotty, various videos (purportedly, the group’s very own) and news articles indicate that the group is […]