Key practices for Wealth Management in the Digital Era.

Wealth management has been the most attractive sector of financial services helping its clients with the best investment advice and assistance. It involves the process where the advisor gathers information and creates an appropriate strategy according to its client’s investment requirements.

For the past many years, wealth management has heavily relied on direct email marketing campaigns to generate new leads. But as progressing, the emails are getting spammed more than conversions. This has led wealth managers to drift towards digital marketing.

Digital marketing is the key to success and leverages several industries by connecting them to clients more efficiently than any other means. Digitalization has provided the comfort of experiencing pre-purchase. Potential customers are highly and happily dependent on firms’ online searches, following relevant social media profiles, looking for reviews, and recommendations for better investment strategies.

With several digital platforms available, it has become easy for the executive to readdress the client’s pain point from the client’s perspective and redesign target personas to generate new leads by engaging potential clients with content and advertisements.

We have curated a list of top trends to incorporate into your digital marketing strategy for improved outcomes.

AI: Chatbots and Voice search

Artificial intelligence is overtaking every industry and serving with excellent efficiency and accuracy. Chatbots and Voice searches are great examples of the utilization of AI in the digital world. 

Statistics show that Chatbots will power 85% of customer service by 2020, and 50% of all searches will be done via voice.

Consider an example of Bank of America’s AI in practice, Erica. Erica helps send important notifications to customers, such as providing balance information, suggesting saving tips, credit card updates, and bills payment. Its capabilities are expanding as an advanced virtual assistant to help clients to make smarter decisions.

Another excellent example of AI in wealth management is Wells Fargo’s chatbot, which uses AI and Facebook messenger to respond to users with queries such as account balances, nearest ATM, and daily expenditure records. Companies’ latest efforts to engage with customers on digital platforms via desktop, smartphone, and other mobile devices.

Voice Search

According to the Digital Marketing Institute, “Choosing a voice search strategy isn’t just about remaining relevant – it’s also about building a unique and optimized customer experience that will cherish relationships and build brand loyalty.”

Let’s consider the example of Erica.

Bank of America released Erica in 2019, and from then, they have received positive responses from their customers. The voice assistant has already gained six million users in 6 months, along with doubling the bank’s daily client engagement rate.

Erica lets you interact with it through voice, text, or gesture commands, making it more accessible to interact with the application and enables you to multitask. 

Aditya Bhasin, Head of Consumer and Wealth Management Technology at Bank of America, has said that Erica will help users to transfer funds through voice assistance and enable users by suggesting better financial decisions by analyzing their habits and providing guidance.

Incorporating voice search SEO in your digital marketing strategy can help you get more organic traffic and a better engagement rate than your competitors.


According to Epsilon’s, 63% of consumers are highly annoyed with generic advertising, 80% are willing to do business with a company providing personalized experiences, and 90% claim they find personalization appealing.

Personalization in digital marketing is the process of marketing the right product and experience to the right person while keeping their preferences in mind. So if you want to excel and stand out, you need to personalize your digital marketing strategy for wealth management.

Recently a survey published by Accenture shows that 66 % of millennial investors desire a digital investment portal, 63 % require a mobile platform, and 62 % wish for a platform that includes social media.

This concludes that firms need to customize their offerings, such as investing guidance, strategy tips, social media pages to follow, and informative content according to the user’s preferences. Along with complete transparency, whether about sharing information or resolving their query.

Robo- Advisors are the perfect example of personalized services in wealth management.

A Robo-advisor is a software system that provides financial advice or investment solutions online with zero or minimal human interaction. The software can automatically manage, optimize, and allocate the assets of its clients using its algorithms.

A Robo-advisor can allocate a client’s assets such as bonds, stocks, futures, commodities, real estate, and cash, based on the risk preferences and desired target return specified beforehand.

Several companies like Nutmeg, The Vanguard Group, Betterment, and Wealthfront are now utilizing this application to manage their clients’ billions of dollars of assets.

Video Marketing

Video marketing is undoubtedly the most trending marketing technique in 2020 and will remain in trends for the coming few years. As things are getting digitized, it is crucial to adapt to the new audience’s new methods.

Consider these numbers to understand the importance of incorporating video marketing into your digital marketing strategy.

  • 70% of internet users say that they have shared a brand’s video.
  • 72% of businesses claim that video has increased their conversion rate.
  • 52% of consumers claim that watching product videos increases their confidence in online purchase decisions.
  • After viewing a video, 65% of executives visit the marketer’s website, and 39% call a vendor.

There are plenty of platforms with millions of daily active users surfing and watching videos online, such as Youtube, Live broadcast on Facebook, and Instagram. You can also stream your videos on popular platforms like Youtube.

Videos can simplify things and enable you to convey your messages with ease, which is again easy for the viewers to follow your point and is more compelling than long paragraphs of texts.

Videos have a remarkable ability to increase your brand awareness and generate more leads for your business. There are mostly two types of videos: first is an introduction video of the team to the prospectus, and the second is educational videos for improving engagement. But you can be creative with your videos.

You can include publishing event videos, personalized sales videos, client videos, service videos, process videos, and bio videos in your campaign. You can end up with massive website traffic and leads if done right.

Inbound marketing

The inbound marketing technique is one kind; it does not interrupt or disturb internet users with the advertisements and content they do not want to see. But it attracts the customers by creating valuable content and provides a tailored experience.

Inbound marketing is an appropriate method to attract strangers, engage prospectus, and delight customers. The technique incorporates creating valuable content, having meaningful conversations, providing solutions, and supporting customers to build trust and healthy relationships.

You can apply your inbound strategy with methods like Blogging, Social Media pages, and Email marketing; this will help you engage with your investors. Where you can discuss their pain points, have meaningful conversations, solve their queries, and let them know that your firm cares about its investor’s building, never-ending trust, and relationship.

Deloitte and Accenture are heavily invested in producing good informative content for their viewers, enabling them to retain most of their website visitors due to their content’s authenticity and information.

This also creates opportunities to attract new users and generate leads and help your business grow better.

Disruptive Marketing

Disruptive marketing is the latest and most current trend in digital marketing. As the name suggests, disruptive marketing is about challenging all you have learned and practiced so far in marketing.

As Richard Branson puts it, “Disruption is all about risk-taking, trusting your intuition, and rejecting the way things are supposed to be. Disruption goes way beyond advertising; it forces you to think where do you want your brand to go and how to get there.”

It is a great way to engage your customers with advertisements by implementing a new approach to represent your brand and product to provide fresh experiences. This uniqueness drives companies to generate more traffic and build brand awareness, revealing possibilities of generating leads.

According to Deloitte, the current disruptive trends in wealth management are targeting re-wired investors, the democratization of asset classes, and strategies, catching up with retirement waves, analytics, and big data.

Digital marketing can help wealth management firms with the disruptive marketing strategy build a disruptive advertising model by making a change in existing campaigns for creating new business markets.

The key here is to stay updated with the latest technology and digital marketing trends to remain competitive. Digital marketing gives you several benefits over any other marketing techniques, such as the low cost of acquiring new customers; digitalization enables you to attract young investors and increase brand awareness with ease.

 In the coming future, you will see automation play a crucial role as a tool in providing customer service and various firms posting their content online for branding and catering to their clients.