64 connected strategy for asian wealth management ^Top Figure 29: Connected wealth manager capability stack Implication #1. Connected wealth managers will augment their digital channel experiences and capabilities for advice and decision making, going beyond transactional convenience Digital channels are currently designed for “self-directed” traders and roboadvised cli- ents. The channel for advice-seekers and for guiding clients’ decision making remains branch-based or remote personnel. We expect that this will change as the scope of digital advice expands and its sophistication and personalization increases. The advice will be accessed and acted on digitally by both “self-directed” clients and advice seekers. The latter group of clients will be able to access on demand human or virtual advisors to guide them through the digital advice content much the same way as an Amazon customer service representative can see a customer’s shopping cart, preferences and co-browse content to guide the customer through the purchase process. Client’s needs “Grow my wealth” “Plan for my retirement” “Plan for children’s education” “Buy a house” “Protect my family & me” “Legacy and estate planning” } Traditional AuM based: Mass market (30m) With demographics & behaviors: Self directed; Advice seekers; Digital natives; Prosumers; … Wealth manager’s capability stack Customer personas and connected experiences Advice and its delivery Partnerships, products, and platforms Functional foundations Segments and personas Connected client experience Target CX: “Respond to desire” • “Connected Curation” • “Coach Behavior” • “Automated Execution” Distribution (physical) Distribution (digital) Data driven coaching Data driven advice Partnerships Platforms Products Frontline (advisors, bankers, service staf) • Branch of future Digital (online, mobile, third party platforms) Ongoing behavioral coaching and nudges delivered via digital or advisor channels Ongoing client profile enrichment Data driven advice 24 x 7 monitoring Client outcomes Hybrid models and use cases Foundational capabilities Asset managers • Fintechs • Content partners • Third party platforms Trade execution • CRM • Marketing Technology Product suite enhancements: Alternatives; ESG; Private market; Digital assets Product ideation • Product due diligence • Product marketing and post sales support Technology enablers (e.g., cloud computing) • Data & Analytics • Compliance Source: Authors' analysis