Wealth managers 'to accelerate digital transformation'

Wealth management companies are preparing for a period of transformation for their business models driven by the impact of Covid-19 and the ageing demographics of their client bases, according to a new survey.

The study, by software provider Dunstan Thomas, found that the most significant business shift for wealth managers was expected to be towards managing assets in decumulation as a clients begin to retire, with 41% of respondents saying this was their top medium-term focus. A further 17% said their focus for the next three years would be on "intergenerational wealth transfer", also linked to the ageing demographics of their clients. The ten UK equity income funds beating FTSE All-Share on all counts The impact of Covid-19 was likely to have a profound impact on firms, the survey indi...