Public Relations, Saxo Bank
20 April 2016

Wealth management survey highlights digital strategy key to client engagement

Increasing Scalability and Regulation Cited as Key Drivers for Further Outsourcing of Technology

Saxo Markets, the Institutional Division of Saxo Bank Group, has today published research in partnership with Compeer, a specialist in business performance benchmarking, competitor analysis and research services for wealth managers, which highlights that the majority of wealth managers surveyed believe that a coherent digital strategy is vital to client engagement. 

Over 86% of wealth managers surveyed cited a digital strategy as critical to client relations; however, despite this, only 43% of survey respondents are able to provide clients with digital monitoring of their portfolios. Survey participants also recognise the emphasis which younger investors place on digital platforms.

On the wider topic of outsourcing, this is mainly driven by the need for firms to increase scalability (71%) or in order to meet increasing regulatory change (57%).  Firms were also asked how they rated the current level of automation within their business on a scale of 1-5, with 1 being ‘very high’ and 5 being ‘non-existent’. 43% of firms gave 4 on the scale, indicating that whilst there are some areas of automation, these are somewhat limited.

Matteo Cassina, Global Head of Sales, Saxo said: “This research shows that there is recognition amongst wealth managers that digital channels have a key role to play in engaging clients and growing businesses but they do not currently have the requisite technology or platforms to maximise these opportunities.”

"Banks and asset managers should seek to enhance their client relationships with a digital strategy which can be achieved through outsourcing their technology to third party providers. The challenge is to ensure that the digital strategy covers the full value chain and is omni-channel - channel and device independent.”

Other findings of the survey include views on the role which technology plays in maintaining a competitive edge. 71% of respondents believe the superior technology of competitors is a threat to attracting new clients – although only 43% think that competitor technology will impinge on their ability to retain existing business.

All firms sampled in the survey are aiming to grow their current assets under management by between 20% and 120%. The majority of firms interviewed implied that organic methods of growth held the greatest opportunities as part of their overall business strategy, yet when asked whether their businesses were sufficiently scalable in order to achieve their stated growth objectives, only 43% of firms answered yes.

Profile of survey respondents:

  • The size of firm by assets under management ranged from £433m to £6.57bn.
  • The number of full-time employees ranged from 41 to 785.
  • All of the firms interviewed offer wealth management services to private clients.


Media enquiries

Cathrine Kier, Head of Global Communications
+45 2068 4510

About Saxo Bank

Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of investment and trading technologies, tools and strategies.

For almost 25 years, Saxo's mission has been to enable individuals and institutions by facilitating their access to professional investing and trading through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.

Saxo’s award winning trading technology platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.

Founded in 1992 and headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.