Big data: bringing it all onto a digital platform for wealth management 

A new breed of client requires an evolved form of investment advice.

Big data is key to this. But it has to be well structured, easily interpretable and readily accessible for an increasingly digitalized, millennial audience who expect to work in a much more transparent way. They also expect client portals, advisor portals, enhanced client communication, robust client reporting, and financial mobility all on one flexible digital platform.

To deliver on these imperatives, the data needs to be aggregated, stored in and analysed in a flexible, powerful digital platform. Doing so allows wealth managers to take advantage of a single, integrated view of all relevant information on an advisor portal. This also provides rich insights that augment client advice and further a firm’s overall business strategy.


Deep reservoirs, deeper intelligence 

Investors have access to huge volumes of data – which countries their clients like to visit, which charities they support, retailers they purchase goods from, their views on environmental issues and even their state of health. Historically, this information took years to collate, but now, much of it is available through social media and the wider internet, complementing private information gathered through face-to-face meetings.

But it’s not just about financial mobility and speed of data gathering – perhaps most importantly, it’s about secure storage and rapid access for leverage and analytics on a client portal. Better data means stronger client relationships, offering deeper conversations and more opportunities to provide individually tailored solutions. With a higher quality of personal information, this new approach appeals to a client’s own life and his or her goals.


Customer and advisor centric


Big data’s use in personalizing service is part of a bigger trend facing wealth management, namely digitalizing services to create new experiences for clients. From the customer’s side, this approach is more helpful and intuitive – even fun with a personalized client portal. But before the sector rushes to build out these experiences, the foundations must first be laid. This means centralizing all client information for enhanced client portals, advisor portals, client communication, and client reporting all on one flexible digital platform.


Rather than accepting bits of information spread across multiple systems, a professional should instead be able to view and control data on a single digital platform – a digital warehouse. This in turn allows the information to be processed through to digital advice and client communication, digital platforms, advisor portal, client portal, client reporting, CRM platforms, and money management tools.

The ability to access all information comes with the caveat that it needs to work across different mediums at any time. Therefore, firms need to consider mobile delivery and financial mobility as the company standard. This is achieved by using a digital platform that supports smartphones and tablets, bolstered by flexible, high-quality design to ensure true personalization.

Platform empowerment 

A unified digital platform is an enabler of better client experience, client communication, client reporting and overall management. Data is pivotal in making informed investment decisions – but without the accessibility that a digital platform provides, it’s as useless as a spreadsheet of incomprehensible data. Only by placing the data in context can we make sense of it.

Using data in this way provides a key business differentiator for investment firms looking over their collective shoulders at emerging (and in some cases now established) FinTechs. At InvestCloud, data aggregation and digital warehousing have been our bread and butter for the last seven years, and delivering personalized digital platforms is our standard. To compete effectively, investment firms need to adopt the approaches their customers want to see, not only to retain the current client base, but to attract a whole new generation of digitally savvy investors.


To find out how to leverage InvestCloud to give your clients what they want, request a demo through our website at or call us at +1 (888) 800-0188.


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