January 05, 2018
A discussion with Mark Jordahl, President of U.S. Bank Wealth Management
Over the past decade there has been a seismic shift in the amount of information available to wealth management clients, putting more data and power into their hands. This availability of information, combined with advances in technology, changing client expectations and desires, demographic trends and regulatory changes, are all transforming the wealth management industry. These changes will continue to reap benefits for consumers.
1. Technology-driven transformation
As in many other industries, technology is reshaping the way wealth management is practiced today. From tools that enhance client-advisor communication to software that makes advisors more efficient and helps clients connect their goals and investment strategy, technology is having a major effect on the wealth management industry.
“Technology will be transformational, and we at U.S. Bank embrace this as an opportunity for us and for our clients,” says Mark Jordahl, President of U.S. Bank Wealth Management. “We want to enable clients to do what they want to do, wherever they want and how they want.
“One of the most significant trends is how consumers have gained access to products and services through their smartphones,” Jordahl says. “And advisors have tools that help them get to know clients better by creating a clearer picture of the client’s situation. When properly used, these tools can help advisors provide better service.”
While many consumers want and can access information and services online, others want and need human interaction as well.