43 connected strategy for asian wealth management ^Top digital trust and connected experiences Implicit in the connected experiences and information flows described above is the importance of trust. The need for trust increases as we progress through the four con- nected customer experiences. For a ‘respond-to-desire’ client experience, a client has to trust simply that the firm will execute a transaction with speed and do so reliably. This is a clearly defined outcome for the firm to deliver and for the client to perceive quickly. For a Curated Offering, the bar for trust is higher since a client now has to trust the trade execution and the advice received on the “what to buy (or sell)”, “when to buy” and “how much to buy” decisions. Importantly, the outcome of advice is not instantly clear to the client since the investment outcomes are displaced in time from when the investment decision is made and are impacted by broader market conditions, the underlying expo- sures, the client’s own behavior (do they buy high, sell low?) among other factors. For Coach Behavior, the required level of trust increases further in that the connected nudges need to be demonstrably in the client’s best interest, easy to understand and act on. Finally, with Automated Execution a client has to completely trust the wealth manager. Figure 22: Information flows for various connected customer experiences Status quo experience Analog, ‘disconnected’ Connected customer experiences Respond to desire Curated Coach Automated Trigger Advisor or customer Customer Firm or customer Firm Firm Frequency Ad hoc On demand On demand Continuous Continuous Richness Low Low Medium High High Effort for customer to transmit information High Low Medium Low None Source: Authors' analysis