70 connected strategy for asian wealth management ^Top Implication #5. The industry ecosystem will broaden further as connected wealth managers forge partnerships along key steps of the customer journey As firms design and deploy new connection architectures and customer experiences, newer firms and capabilities will become part of the wealth management industry’s broader ecosystem. Partnerships will accelerate for a range of the customers’ jobs to be done with content creators, educators, investment experts, peer to peer networks, gam- ing firms, etc. becoming part of a richer ecosystem of capabilities. These partnerships will increasingly span all aspects of a customer’s journey from customer identification, onboarding, education, ongoing coaching and education, guidance from peers and trade execution. For example, gaming firms could be leveraged by wealth managers to help clients edu- cate themselves about investing before having access to more sophisticated DIY trading platforms. This could serve as the investing analogue of a graduated driving license Trending: Contextualized, connected communications Should advisors provide the same guidance to every client during a market event? Are there better approaches than to broadcast a list of ideas to every client? In the last decade, wealth managers aimed for consistent, at scale, relevant communication to their clients. House views and product ideas are today centrally broadcast through websites and to clients’ mobile devices. Consistency and scale have been achieved but largely at the cost of relevance, with broad based, generic communication being the norm. Progress in automation, the lower cost of collecting and storing data, and more accessible machine-learning techniques together create the possibility to by-pass the traditional tradeoff between consistency and relevance and open new forms of hybrid or fully digital investment guidance. For example, updates on markets can be filtered and limited to those having an actual impact on a client’s existing portfolio. Beyond such tailored information, combining behavioral data and rule-based algorithmic communication helps rein in investor biases and nudge the investor towards better decisions. The tone of a portfolio update can also be tuned to the personality of the client. Application of social filtering methods with appropriate governance also provides the equivalent of peer-coaching and addresses inertia. Leading retail and private banks are experimenting with such methods in personalized engagement to strengthen client connectedness.