This highly flexible solution empowers firms with faster time to market for digital properties, while providing their investors with a seamless digital experience including account information, workflow tools, analytics, news, and insights related to their holdings. The solution enables Wealth Managers to deliver the unified digital experience that their clients are looking for, engage investors through a more personalized service, whilst also lowering the total cost of ownership.

Wealth Management firms are entering a new phase of digital transformation. Fintechs are bringing new capabilities and approaches, and non-traditional tech competitors have established a higher bar for client expectations. As a result, financial services firms are re-evaluating their digital offerings. The speed of transition has been further advanced by COVID-19 and its effect on how firms will continue to engage with their clients.

Acquiring advanced digital capabilities is not without challenges. Refinitiv explores these challenges in a recent white paper, Putting the Hammer Down: Accelerating Your Digital Transformation. Considerations include assessing the traditional buy versus build choice for delivery, and new approaches that blend these choices together delivering the advantages of both.

Refinitiv continues to address evolving industry needs for flexibility in how its digital solutions are delivered. Digital Investor delivers a sophisticated client experience throughout the relationship lifecycle with a flexible framework that consists of a set of front-end development tools, widgets and integrated APIs that enable firms to build or enhance their digital wealth management experiences with advanced capabilities and Refinitiv content.

Joe Mrak, Global Head of Wealth Management at Refinitiv, said: “At Refinitiv we are committed to serving the Wealth Management industry with our next-generation digital Wealth Management solutions. The launch of Digital Investor speaks to our business’ appreciation of the industry’s ongoing priorities and looks to address these needs with a highly flexible solution. Digital Investor follows the completion of our acquisition of Scivantage in February 2020 and represents a key step in the integration of our digital product suite. By bringing together the powerful client engagement platform of Scivantage with Refinitiv’s market data, news and other content in context with client account data, we are allowing our clients to deliver a personalized and relevant investor experience.”

Alois Pirker, Research Director, Aite Group, said: “The global pandemic has emphasized the important role digital engagement plays in Wealth Management today, enabling clients to feel close to the institution and advisors who manage their wealth, even if in-person meetings are not possible. When heightened fear in the financial markets is paired with great limitations to meet in person, traditional wealth management service models are being put to the test. As the dust settles, the outbreak will bring digital engagement in financial services to a new level of appreciation and awareness.”

Will Trout, Head of Wealth Management, Celent, said: “The acceleration of the digital learning curve in the wake of the pandemic has increased client expectations for service and portfolio advice. Investment in workflow, analytics, trading and other lifecycle technology can help invigorate the client-advisor relationship and break tradeoffs between customization and scale.”