Exploring the challenges faced by wealth management firms during the transformation process, including issues with legacy systems, data quality, regulatory constraints, and team alignment. Emphasizing the importance of decomposing legacy technology, improving data quality, and aligning teams with digital transformation goals for enhanced operations and customer experiences.
Opportunity awaits the wealth management industry, as global wealth rises and the baby boomer generation begins to transfer assets. Omar says wealth managers must keep up with growing demands for efficiency and personalization. But this large-scale digital transformation is not a destination - it’s a continuous journey and in this episode we are going to explore this topic in more detail.