A recent article from a BISA OneSource Special Edition on Investments highlighted the gap between consumers’ desire for technology-enabled investment services and the delivery of those services by financial institutions.

The article details a new study from Boston Consulting Group finds that up to 60 percent of wealth management clients want to use videoconferencing tools like Skype to communicate with wealth managers, but less than 20 percent of financial institutions offer that service. And more than 60 percent of clients want online and mobile investment recommendations and portfolio analysis, but just half of wealth management firms offer those services.

Particularly with under-40 investors, financial services companies are failing to keep up with client needs -- nearly 77 percent of wealthy clients in that age group use digital channels for most or all of their wealth management, and that number is expected to rise to 82.5 percent in five years. Older investors, too, are jumping on the tech bandwagon, further driving demand for these services. 

Here at CFS, we have enabled more and more remote delivery services to help financial institutions address this desire from their members. Two of our most popular client-focused technology services include: 

  • Our mobile apps which enable clients and advisors to easily and efficiently transact business remotely. They allow clients to capture and send images of signed documents instantly to their reps, and allow advisors to instantly upload those documents into our online account management system. The mobile apps are excellent tools for clients who live a long distance away from their local advisor or branch, or who want the flexibility to talk things over with a spouse and send documents while on the go anytime, anywhere. 

  • Home Banking Integration which incorporates all of the customer’s investment assets into their normal home banking system so they can review all of their finances in one place using one login. This allows clients to manage their finances on-the-go from any internet-enabled device.

In addition, later this year we will be launching another mobile-system focused on making the investment process easier, more flexible, and more efficient for clients. Stay tuned for more soon! 

We provide the technology tools to our client financial institutions to help enable remote delivery of investment services in the flexible manner clients want. We support our programs as they offer services such as virtual meetings because we know our industry’s success is driven by consumers’ need for flexible, personal service. If your investment program is interested in learning more about the tools we offer, please contact us today. 


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Reuters (06/24/14) Leibel, Michael