Global consultancy firm PwC describes the asset and wealth management industry as the bellwether for the overall economy. And thanks to the Covid-19 pandemic it is no longer business as usual in this sector. Investors are naturally anxious. Wealth management companies need to deliver a positive customer experience during such periods of uncertainty. And here technology plays a key role in enabling the human touch in communications, since in-person meetings are not advised.
No wonder then that a digital wave is sweeping through the industry, as customers move away from traditional wealth management providers such as private banks and fund managers. According to Ernst & Young, a quarter of customers in the Middle East currently receive financial advice through mobile apps. In addition, as they increasingly opt for digital options, more than half of them have switched their financial advisers or wealth management advisor in the past three years, in comparison to 32 per cent globally.
Leading the trend towards digital-first online managers — and consequently disrupting the industry — have been cloud-based wealth management platforms such as WealthBrain. The fintech company, based in Dubai, was founded in 2019 by ex-bankers and wealth management professionals with decades of experience.
One of the key appeals of WealthBrain is that everyone can reap the benefits of using it. Whether you are an investment guru or are just starting to manage your portfolio, the platform can help you meet your wealth goals and diversify your portfolio. Moreover, it can be subscribed to by B2B partners, such as financial advisory, asset and wealth management firms, relationship managers and wealth managers. You can use it to efficiently and effectively manage your clients' portfolios and give the right financial advice, at any time and from anywhere.
"With teams in Dubai and India, catering to high-net-worth individuals, family office, wealth managers and investors across the Middle East, WealthBrain is aiming to disrupt the existing wealth management analytics, reporting and consolidation practices, and standards for investors and advisors," says Rahul Dewan, Senior Vice President — Technology at WealthBrain.
With teams in Dubai and India, catering to high-net-worth individuals, family office, wealth managers and investors across the Middle East, WealthBrain is aiming to disrupt the existing wealth management analytics, reporting and consolidation practices, and standards for investors and advisors.
A key differentiator for WealthBrain is the advanced use of artificial intelligence and machine learning that automates your investment portfolios and crunches even massive amounts of data into simple, readable graphs and charts. "This ensures that the investor gets an overview of their financial net-worth, exposure and non-performing assets, all at a glance," adds Dewan.
Here are 7 reasons why WealthBrain ranks among the best online wealth managers for 2021.
1. Link multiple accounts
WealthBrain's strength is the unified platform it offers. This allows you to soak in a single consolidated view of your global portfolio across different private banks, investment firms or wealth management agencies. WealthBrain gives you a birds eye-view across all your investments to help you focus on your growth investment.
WealthBrain is one of the most secure platforms out there. It has deployed the latest, industry-leading security technologies that ensure data encryption and user privacy always remain a top priority. You can login securely from anywhere and not worry about your private information spilling out.
3. Customised view
You can pick and choose your preferred investments and check on your important assets at any given time. In just a glance, you can see your best and worst investments. Or personalise the view to get a handle on your exposure to individual securities, as well as the level of risk in your overall portfolio.
4. Real-time tracking
It performs real-time tracking, not just of the investments you hold in your portfolio, but also of news, information and late-breaking stories. The platform gives you live market updates from top business sources such as Bloomberg.
5. Daily planner
WealthBrain has an in-built planner that allows you to sync your daily meetings. Besides, you can schedule meetings with your relationship manager, or set up active reminders about taking critical decisions in time. The daily planner is a flexible and comprehensive tool that will seamlessly work with you.
6. Multiple user access
WealthBrain offers a range of subscription plans so that you can choose the one that best fits your needs. The Individual Investor plan is ideal for a single user, while the Family Office/UHNWI plan ramps it up to three user access while adding in a dedicated account manager along with other benefits. For more, wealth managers, corporates and financial investors can talk to an expert at WealthBrain to set up a custom plan with multiple user access.
7. Be connected 24X7
Apart from an online platform, which can be accessed using any browser, WealthBrain offers secure smartphone apps for Android as well as Apple devices. You can set up alerts and notifications so that you are always a step ahead and have access to the best insights and information, 24X7.
For more information, visit Wealthbrain.com