34 connected strategy for asian wealth management ^Top Case examples • There are few Asian wealth managers who currently offer a Connected Coach Be- havior experience. DBS is one of the leading incumbents that started to develop such an experience since 2018 with its proprietary NAV Planner digital wealth capability, targeting emerging affluent clients (see Figure 13). It gathers data from clients, uses algorithms and heuristics to generate tailored insights to coach clients on their wealth needs. With data captured on the client’s financial position, invest- ments, insurance and banking deposits and other variables, Nav Planner generates bite-sized “nudges” to help consumers along in their financial journey. It is powered by more than 100 AI models and serves as a connected coach for over two million clients37 in Singapore and has converted over 30k clients to net savers38. Our perspective is that the Curated Offering and the Connected Coach experiences of- fer wealth managers significant opportunities to create competitive advantage, lower their costs and build for a large total addressable market in Asia. automated execution Archetype and total addressable market: In an automated execution connected expe- rience, clients allow their wealth managers to anticipate and meet the client’s needs automatically (see Figure 14). Consider the following scenario. A HNW client with excess cash empowers her wealth manager to make investments up to a specified threshold and in specific asset classes and the wealth manager automatically places trades when there is excess cash in the client’s account in line with guidance from the Chief Investment Officer’s investment views and the client’s preferences. This saves the client time, grows their wealth more effectively, lowers the fulfilment cost with automation and ensures healthier client portfolios for clients. Therefore, automated models can be beneficial for clients and firms. However, the addressable market is cur- rently small, with only 5-10% of Asian consumers willing to cede control on investment decisions. Firm capabilities: The essential elements for such an experience would be: a trust-based relationship with the client, continuous connectivity to a client’s financial information and the ability to use it to anticipate what the client needs and wants. Clients most open to auto- matic execution would be comfortable having their financial and other data stream from 37 “What can a one-year-old do? More than you think”, Straits Times, 2021 38 “DBS doubles down on intelligent banking amid still surging digital adoption”, DBS Press, Sep 2020