65 connected strategy for asian wealth management ^Top While digital channels are already used for many of the customer’s transactional jobs to be done such as viewing portfolio balances, checking investment returns and placing self-directed trades for stocks, funds and FX, we believe that tomorrow’s connected wealth managers will be able to expand the digital advice menu to facilitate good invest- ment decision making. This is likely to include features such as: • Algorithmically driven, personalized advice delivered directly to the client 24 x 7 • Automated, 24 x 7 portfolio monitoring instead of relying on people for doing so manually • Automated guardrails against behavioral or emotional risks • Increased use of multi-media (voice, video) for a more conversational wealth man- agement experience • Access to human or virtual advisors if the customer needs to better understand the advice Trending: Creating ‘gravity’ in digital wealth platforms It is difficult to retain users if a wealth platform does not offer something new, of value and in an engaging manner on an ongoing basis. A wealth management digital platform, as part of a broader hybrid wealth experience, will need to attract clients and retain them with habit-forming features and nudges to ensure activation, engagement and retention. The created habits, in turn, should help investors achieve a higher level of financial wellbeing. Creating this ‘gravity’ is essential for an effective, long term connected strategy implementation in wealth management. However, relatively infrequent wealth needs do not intrinsically form the basis for such ‘attraction’. Therefore, several banks and insurers have started experimenting with using lifestyle services and engagement features to attract and engage users to then progressively move towards investing and related financial jobs to be done. Some examples include Ant Financial’s lifestyle services at the core of its Alipay app, DBS’ lifestyle app as part of its Paylah! App and Prudential’s Pulse, health, wealth and fitness app, which is the insurer’s nascent attempt at creating a direct-to-consumer wealth and insurance platform. We see these attempts at broadening the engagement approach to nurture greater client connectivity as a key trend that will persist.