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General Published on: Fri Feb 10 2023

Benefits of Customized AI-Powered Wealth Management Platform

AI-powered wealth management software is capable of investing in and managing funds, thus reducing the risks associated with investments. It is a customized solution that can be tailored to meet the needs of each individual investor. The investment strategy created by AI-powered wealth management software considers all the relevant factors such as risk, market conditions and investment objectives. The funds are customized based on one’s risk profile and investment objectives which makes it a customized solution.

Interesting Facts about Wealth Management Software Technology

Wealth advisors have been looking for ways to simplify their work to spend more time with clients. The newest innovation in wealth management is customized AI-powered wealth management software, which gives them more insight into their customer’s portfolios and less paperwork. 

Custom AI-powered wealth management software helps with the complicated tax reporting processes by providing automatic computation and calculations on losses and tax refunds. 

 Statista.com. report shows several findings on the wealth management sector as follows: 

  • The most common financial goal mentioned by clients is managed by or delegated to wealth managers in 2021 is to ensure sufficient income and security for their clients.  
  • The share of investors who took advice from wealth advisors for this reached above 50% considerable increase against 2019 data. 
  • In 2019, the most common financial goal tackled by their wealth advisors is to minimize taxes and inheritance taxes, a much less prioritized goal in 2021. 
  • The top three reasons among clients to choose wealth management in 2021 are that there is all concern about the service provided by the wealth manager such as performance track record, fee structure, and different investment products. 
  • High net worth investors (HNWI) worldwide confirmed that technology has improved investing in both cost-efficient and a decision-making aspect. 
  • Globally, wealth management clients revealed that technology has made investing cheaper and more efficient. Almost 57% confirm that digital tools have improved investment. 

Benefits of a Wealth Management Software Solution

Financial institutions are increasingly turning to AI as a part of their wealth management software. The benefits of this include the ability to offer personalized service, simplified processes, and more efficient customer engagement. 

Now, let’s tackle one by one the benefits of having custom wealth management solutions for your organization.

  1. Custom wealth management solution empowers customers 

The wealth management app platform provides do-it-yourself (DIY) features. This may allow to start the conversation with potential clients of the investors, call negotiation, and complete the process with registered wealth advisors. Wealthtech mobile app also gives easy access to many investment products like stocks, bonds, forex, mutual fund, digital currencies, commodities, and more. In partnership with third-party service providers specializing in these areas, wealth management software can be a one-stop-shop investment tool for customers.

2. Wealth management tools to simplify processes

To provide customers better advice and quality service, it is necessary to consider knowing your customer (KYC).  Restructuring the process helps wealth advisors in getting the job faster. This gives wealth managers an insightful discussion about different investment product choices and detailed information about the customer.


3. Customized compliance and financial control

A customized early warning system helps financial management investors check and monitor client payments, penalties, overdue fees, and other financial-related concerns. Installing a compliance management feature also helps investors monitor on-time payments, on-time registrations, tax filing, and legal filing of important notices similarly important in operations to avoid incurring penalties.

4. Streamline legal and regulatory management

Legal and regulatory expenses are the unforeseen costs incurred by any investor in tech. The wealth management software solution can be intuitive based on investors’ needs that can be shared with legal advisors from time to time. Any legal requirements can be discussed with the legal advisor’s recommendation.When legal costs are considerably high, particularly in complex and diverse client portfolios, legal consultants can look back on the consumer’s portfolio and suggest preventive actions to save some money for the investor in the future.

5. Personalized solutions for wealthtech customers

Every customer has unique investment needs, there are no identical customers. Digital Wealth management technology solutions can explore the latest data analytic message to analyze data resorting to a customized wealth management software solutions. The customer’s spending pattern and risk appetite can be analyzed from real-time data and the information on investment choices recommended by wealth managers. Customers may be willing to invest in real, forex, or mutual funds based on consumer data.

6. Supported by a Dedicated Team of Experts

Management solution development is complex work. It may take a lot of productive hours to finish a system right for you. But with great expertise, outstanding technical competence, end broad knowledge of the technology, those issues won’t be a problem. 

 If you’re looking for a perfect wealth management tools, reliable software engineers and AI experts research teams are just on standby. These professionals, designs and develop customized wealthtech software to answer your customer’s and well advisors’ needs. To get information on how wealth management software development works, request a quote or send your questions to hello@hexaviewtech.com