In the evolving landscape of WealthTech, staying connected with clients through consistent, meaningful communication is essential for maintaining trust and ensuring they remain on track with their financial goals.
According to Kidbrooke, traditional wealth management often relies on periodic reviews with financial advisors; however, Skandia is pioneering a more dynamic approach by integrating digital and physical channels to enhance client engagement continuously.
Skandia has expanded the capabilities of its digital financial planning tools to provide ongoing evaluations of clients’ financial statuses. This proactive support system is driven by sophisticated financial analytics, allowing for timely and accurate updates that empower clients. For example, a client approaching retirement will receive regular insights into their pension savings, adjusted for market dynamics and new contributions, all accessible through their customer portal.
Market fluctuations and the introduction of new investment products can derail a client’s financial strategy. Skandia addresses this by utilising KidbrookeONE, a robust financial simulation engine, to detect deviations from the recommended investment model. This system not only notifies clients of these misalignments but also suggests actionable adjustments directly through the client portal, facilitating optimal investment strategies tailored to individual financial goals.
Understanding and managing the risk associated with investment portfolios is crucial. Skandia enhances this aspect by notifying clients when their portfolios veer away from their desired risk levels. This is achieved through automated, proactive notifications that suggest necessary adjustments, ensuring clients’ investments align with their risk tolerance and financial objectives over time.
To avoid confusion and maintain trust, it is critical that information shared across various channels—whether digital or face-to-face—remains consistent. Skandia leverages KidbrookeONE to ensure that all communications, including portfolio simulations and advisor interactions, provide uniform, high-quality information. This consistency reinforces Skandia’s credibility and supports clients in making informed decisions regardless of how they engage with their wealth manager.
The cornerstone of Skandia’s client engagement strategy is its commitment to providing continuous, personalised updates. These proactive notifications about risk levels, portfolio adjustments, and fund performances are crucial for building lasting relationships. By focusing on ongoing client engagement, Skandia not only retains clients but also enhances their experience, fostering trust and driving mutual success in the WealthTech arena.
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