Making wealth management relevant for the new generations: CREALOGIX WealthTech breakfast in London

Last week in London, CREALOGIX hosted a networking breakfast as part of our regular Digital Dining Club series. We were delighted to invite and interact with strategic and transformational leadership from the wealth management industry. Our events were created for visionary leaders in wealth management to share views of how they perceive the market and where they see it going. Here’s a summary of what was discussed.

Going paperless

Wealth management is an industry in the midst of a massive shift to digital. On one end of the spectrum, we have pension companies which are largely driven by paper. At PensionBee, the team processing incoming documentation deployed a robot to open envelopes and scan papers. Historically, the organisation was receiving so many sacks of mail, that the robot cut manual intervention by five employees. The pension industry’s dependence on paper seems set to continue leaving FinTechs to adapt for now.

On the other end of the spectrum, we heard an example of a private bank which has seen individual investments of up to £1m in its robo-advisory service. This indicated that there is a high degree of confidence in the future of digital.

Key points about digital transformation included:

  • Millennials and the younger Gen-Zs will often demand a fully digital self-service experience: if they have to pick up a phone or send a letter, they may choose to take their business elsewhere instead;
  • Encouraging users to interact regularly with digital systems – on low-commitment workflows – can help them become familiar with it and build trust: making it easier to ask for more in-depth usage;
  • The greater the amount of money invested (and the greater perceived risk), the more likely it is that the customer will want to speak to a human: this is across all generations;

The FinTechs of wealth management

Everyone seemed to recognise the positive, trail-blazing achievements of the digital-first investment services such as PensionBee, Wealth Wizards, AtomInvest, NetWealth, and Exo Investing. Many in more established firms feel that these FinTechs may be a growing competitive threat.

Key points included:

  • The success – or failure – of a digital product depends on the ability to understand users and market the benefits to them: taking a dry technology approach focused on internal efficiencies won’t necessarily produce benefits that consumers are interested in;
  • Big banks and large global wealth managers can learn from FinTechs in regards to customer experience and engagement, therefore creating customer-centric products and services.

An Ever-Evolving Market

Firms need to work on their strategy to be more responsive in the face of rapidly evolving customer requirements and investment markets. Firms which specialise in money and service and not in technology, may risk overstretch when trying to chase new ideas and roll out new digital services. Innovation needs to be managed carefully while still keeping up the pace.

An example of this is AI in financial services: the competitive edge – the efficiencies – are a concern for CEOs now, not in 5-10 years. The time for change is now.


The consensus in our discussions at this event was that customers’ digital expectations are only accelerating, while their requirements for access to savings and investment products seem to be getting more complex. Technology provides the key to survive and thrive in this digital revolution: using automation, paperless processes, digital self-service, and a software platform that allows for continuous improvement.

These are all requirements well served by CREALOGIX Invest, our solution for digital wealth management, incorporating robo-advisory features. For those wishing to find out more, CREALOGIX are currently arranging further workshops and demos – contact us for more information.

We’re interested hearing your views about these topics: join in the discussion with @CREALOGIX_en on Twitter with the hashtag #WealthTech.


Moderated by Jo Howes, Commercial Director, CREALOGIX UK, we welcomed the following four experts to discuss these themes in our panel:

  • Clare Reilly, Head of Corporate Development, PensionBee
  • Tony Vail, Founder and Chief Innovation Officer, Wealth Wizards
  • Mark Vasey, Partner, Wealth and Asset Management, Cognizant
  • Tanya Andreasyan, Editor-in-Chief, FinTech Futures / Banking Technology

Our thanks to Clare, Tony, Mark, and Tanya for their insights!

CREALOGIX UK Digital Dining Club

To join in a future Digital Dining event with CREALOGIX in London, please sign up for notifications by filling in the form below or emailing

Attendance is by invitation only and is free for eligible roles and firms.

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