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How to Meet the Demands of Today’s High Net Worth Customers

Stephanie Clarke
Posted by Stephanie Clarke Director of Content Marketing Tuesday, January 2, 2018 - 08:04

Stephanie Clarke is the Director of Content Marketing at Quadient, responsible for developing and executing Quadient’s global content strategy. Stephanie has more than 12 years of experience in the software, technology and manufacturing industries. She has a proven track record of designing and implementing winning B2B content strategies for global brands, and has a true passion for all things marketing. Stephanie holds a B.A. from Wilfred Laurier University. She is very active on LinkedIn and Twitter – please connect with her by clicking the icons above.

Customer Experience Update
How to Meet the Demands of Today’s High Net Worth Individuals (HNWIs)

Over the past decade, global growth has led to an increase in the number of high net worth individuals (HNWIs). 

Check out these fun facts:

  • Global HNWI wealth is projected to nearly triple in size from 2006-2025 and to surpass US$100 trillion by 2025
  • In the past 12 months, total global wealth in the US grew by 6.4 percent. It is the fastest pace of wealth creation since 2012 and one of the best results since the financial crisis
  • The average age of an ultra-high net worth (UHNW) individual is 59 for men and 57 for women. Within the next 10 years, nearly 16,000 ultra-high net worth individuals with a combined net worth of over $4.1 trillion will pass on their wealth to the next generation
  • The number of UHNWIs is set to increase by 43% in the coming decade

Jealous yet? Me too. 

Although the market has expanded, the competition to serve HNWIs remains intense. Additionally, the profiles of HNWIs are becoming more diverse: they could have inherited money, be a young tech entrepreneur or a business person from a rapidly growing economy that has been able to capitalize on market liberalization and growth. Their backgrounds will have shaped their expectations and how they interact with their wealth management firms. 

Rapid change driven by the rise of consumer power, a growing number of communication channels, ever-expanding data and new regulations have drastically impacted the ways in which wealth management firms must engage with their clients. 

Research by FactSet also demonstrates that HNWI’s want targeted information at a greater frequency than they do today.

FactSet Research Chart

At the heart of this transformation are the technological innovations that are altering clients’ lifestyles. The always-on mentality, the ubiquity of mobile devices, such as smartphones and tablets – and now wearables – have shifted client expectations and changed how they want to access information. 

Savvy firms are harnessing the power of new technology to communicate more effectively with their clients, while maintaining regulatory compliance. They must be able to give their luxury clients the information they want, when they want it, in the format they prefer, while providing additional benefits. 

If you your firm is committed to giving these time-poor, cash-rich clients a positive experience, you must provide information and communication that is timely, contextual, accurate, highly individualized and delivered via the channel of their choice. 

A new white paper “From Tradition to Transformation in Wealth Management: Overcoming 4 Critical CX Challenges”, examines how wealth management firms can best leverage technology to overcome the four most critical challenges to delivering an exceptional customer experience: 

1.    Legacy technology
2.    Changing regulations
3.    Organizational silos
4.    Lack of IT time and resources

As wealth management organizations seek to improve their competitive position, improving the customer experience through a centralized omni-channel communications strategy has become a key area of focus. From paperless onboarding to interactive account statements and mobile push notifications, modern customer communications management (CCM) solutions help them meet the ever-changing needs of their customers. 

Let’s take a look at few use cases for CCM in wealth management.


Modern CCM platforms have the ability to make onboarding for new products and services easy by providing application forms that are prepopulated with customer data. Then, customers are able to quickly sign contracts using any device with integrated eSignature capabilities. 

Benefits include: 

  • Increased efficiency 
  • Reduced application abandonment rate 
  • Reduced in-bound call volumes 
  • Faster onboarding 
  • Reduced print and mailing costs


By integrating with existing core systems, leading CCM technologies enable organizations to transform their existing statements and reports into personalized responsive communications that include interactive tables, charts, and special promotions. 

Benefits include: 

  • Improved customer engagement 
  • Reduced in-bound call volumes 
  • Improved customer experience 
  • Reduced print and mailing costs

The interactive demo below is a great example of how firms can leverage CCM to create and deliver dynamic statements and reports to their clients.  



From investment portfolio packages to proxy statements and contracts, many organizations struggle with complex document assembly and delivery. Leading CCM solutions enable you to create, assemble, manage, and track complex communications from one centralized communications hub and deliver them across all channels. They allow full control over the complex relationships between different types of content, document order, compliance messaging, and more. 

The result? Your customer receives a personalized, interactive, easy-to read information package via their channel of choice complete with sortable tabs, interactive charts and graphs, and built-in electronic document sign-off capabilities. 

Benefits include: 

  • Increased efficiency 
  • Improved customer experience 
  • Reduced in-bound call volumes 
  • Quick and easy onboarding 

The interactive demo below illustrates how firms can leverage CCM technology to turn complex communications into easy to understand digital information packages.



To learn more about how wealth management firms can leverage modern technology to overcome some of the most vexing digital transformation challenges, grab a complimentary copy of the white paper here

Wealth Management: Overcoming 4 Critical CX Challenges