42 connected strategy for asian wealth management ^Top Figure 21: An illustration of a connected client relationship information flow Engagement frequency Channel Firm learning about client (Data collected) Firm’s application of data (Data usage) Client jobs to be done Once in a wealth relationship • Digital (primary) • Advisor • Client identity • Demographics • Declared assets • Stated preferences • Compliance (KYC) • Account set up • Build client profile 5-10 times in a wealth relationship • Digital • Advisor (primary) • All risk question inputs • Stated preferences • Revealed preferences • Assets held elsewhere • Cohort level curation “Investors like you…” • Enhance client profile On demand, 24 x 7 • Digital (primary) • Advisor • Behavioral: Frequency, timing of engagement • Client’s search history • Tailor engagement, advice and experience • Enhance client profile “Open an account” “Create a financial plan—needs, goals & context” “Get investment ideas and place a trade” Implication On demand, 24 x 7 • Digital (primary) • What did client click on • What did client act on • Real time financials • Login duration • AI coaching nudges • Adapt nudges based on cohort & client response “What I need to know and when about my wealth” Frequent interactions “connected” Experience layer Prediction layer Data layer Digital-first with advisor when needed Continuous click stream of data; ongoing learning Feedback loop and profile enrichment Institutional learning and repeat loop Source: Authors' analysis 1. Trigger: Does the customer need to trigger the information flow? 2. Frequency: Is it continuous or episodic? If episodic, what is the frequency? 3. Richness or bandwidth of the information flow 4. Effort: How much effort does the customer need to exert? Figure 22 summarizes key requirements for information flows for each archetype. As the firm learns more about the client’s investing behaviors and preferences, it can progressively broaden the set of needs and services that the customer trusts it with. For instance, a natural financial services adjacency is insurance given its impact of a client’s net worth when risks materialize.