From a propositional standpoint, it is important to configure a service model that maintains a laser sharp focus on end investor outcomes, measured by a combination of good advice procedures, greater transparency on fees and robust investment frameworks for generating performance.
The hybrid advice model is a key driver for designing this investor driven proposition across the wealth management and private banking business models.
If regulators across the globe continue to update regulations to foster the development of new advice models, as well as counter any potential ‘systematic’ fallouts or failures that may ensue from mass codifications of advice procedures, by 2025 the scene will be set for “stage left – entry of scalable advice checking and monitoring systems, managed by humans and machines, i.e. the full evolution of hybrid advice”.
Niral Parekh is head of retail wealth and asset management at Capco