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Wealth Tech Impact on Wealth Management Sector

Author

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  • Tomasz Dziawgo

Abstract

Purpose: The goal of the research paper is to familiarize reader with both Wealth Tech concept and key trends regarding global wealth management sector. Design/Methodology/Approach: For the purpose of the paper, the following methods have been applied: critical analysis of literature including research papers, and comparative analysis of presented data. The goal of the research paper is to familiarize reader with both Wealth Tech concept and key trends regarding the global wealth management sector. Findings: Because of such rapid digital transformation, Wealth Tech was able to emerge as significant part of wealth management. With funding in billions of USD on new Wealth Tech companies, strong reliance on major technologies such as artificial intelligence, robo-advisory, big data or blockchain, it can be concluded that Wealth Tech role in wealth management will be more significant and it could attract more clients, which are both younger as well as less affluent. Practical Implications: Digital transformation is one of the key trends in wealth management industry, that was further fastened by COVID-19 outbreak. Originality/value: Rapid digital transformation in wealth management sector will enable Walth Tech to have stronger impact on overall wealth management.

Suggested Citation

  • Tomasz Dziawgo, 2021. "Wealth Tech Impact on Wealth Management Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 141-151.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:3b:p:141-151
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    File URL: https://ersj.eu/journal/2463/download
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    References listed on IDEAS

    as
    1. Tomasz Dziawgo, 2021. "Big Tech Influence on China Financial Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 1110-1120.
    2. Jan Kolesnik, 2021. "The Contagion Effect and its Mitigation in the Modern Banking System," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 1009-1024.
    3. Mateusz Folwarski, 2021. "The FinTech Sector and Aspects on the Financial Inclusion of the Society in EU Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 459-467.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Jasman Tuyon & Okey Peter Onyia & Aidi Ahmi & Chia-Hsing Huang, 2023. "Sustainable financial services: reflection and future perspectives," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(4), pages 664-690, December.
    2. John Yang & Sang-Uk Jung, 2024. "Harnessing FinTech for Sustainable Finance in Developing Countries: An Integrated SWOT–Multi-Level Perspective Analysis of Mongolia," Sustainability, MDPI, vol. 16(10), pages 1-24, May.

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    More about this item

    Keywords

    Wealth Tech; Asset Management; Wealth Management.;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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