Full of actionable insights, the annual report from this news organisation is a valuable addition to the wealth industry's stock of ideas.

This news service's research team is delighted to announce that work is under way for Tech in Wealth Management Operations in 2024: Challenges and Innovations.

This annual report – a must-read analysis and overview of technology and operational issues for wealth managers, banks, family offices and others – includes an online survey and interviews with industry leaders.

The report lifts the lid on progress being made – or not being made – and the challenges and opportunities that technology, such as AI and data analytics, present to the sector. Industry figures working to control margins and make their firms and business segments more profitable should read this report. It is packed with insights that can help take the sector up another level – something this news service is keen to see happen.

Themes include data management (handling vast amounts of data securely and efficiently); investment strategies and systems' integration (reflecting how legacy systems can pose problems and how these can be surmounted); outsourcing as a way of freeing firms to focus on what they excel at as well as containing costs and organisational complexity; AI in all its facets and use cases; and the need to embrace innovation rather than ignoring or fighting it. 

The team is still collecting evidence through our online survey, while speaking to our experts. However, it is already clear that the industry must keep looking at strategies and ways of taking advantage of technology in order to overcome operational, data and risk hurdles. 

We urge all those who are interested in contributing to the study to let us know if you would like to share your experiences and insights. Find out more by going to this link.

To view last year’s Tech & Ops Report, click here.