Wealth

Blog Articles

After the transformational impact of the pandemic and the looming revolution driven by artificial intelligence, there are few voices that doubt the need to update business models with scalable and efficient digital wealth tools. However, legacy IT architecture remains an issue that keeps many executives from future-proofing their businesses. Indeed, the ever-accelerating digital wealth transformation requires an adaptable IT architecture capable of accommodating both anticipated and unforeseen changes. Therefore, in this blog post we discuss both our and our customers’ experiences of building dynamic and reasonably priced IT architectures that can evolve with your business.

The past year has been witnessed to slow growth and the ongoing battle against inflation causing widespread layoffs, lean payrolls and difficulty in filling skilled positions. 2023 has already seen its first casualty. California lender Silicon Valley Bank collapsed after tech investors and startups set off a bank run. This became the second-largest bank failure in US history, after Washington Mutual in 2008. The threat of a global economic slowdown looms and businesses look for ways to thrive through the downturn. Certainly, the interplay of the factors put together will ultimately shape the story of economic growth for 2023. In wealth management, the implementation of generative AI tools, a rise in interest in embedded wealth and the consumer duty requirements are reshuffling wealth managers’ approaches to business.

Suppose your organization decided to leverage OutRank®, the financial forecasting API, in its digital and hybrid financial journeys. Where do you start and how do you ensure you get the most out of our analytics? We talked to Kidbrooke®’s Customer Success Team to shed some light on the onboarding and maintenance processes, the client requirements and internal expertise needed to ensure that our clients achieve their goals using our technology.

In the advisory world an insurance company holds a client’s assets on their books while an Independent Financial Advisor (IFA) supports the client with financial advice. From a regulatory perspective, the insurance company follows its own regulations, like Solvency 2, while the IFA follows regulations targeting financial advice. For a variety of reasons, sometimes a client gets separated from an IFA, hence losing access to an advisor for help with their financial planning. However, the client still has assets on the insurance company's balance sheet. When this happens, the client is referred to as an ‘orphan’.