EY Wealth & Asset Management explores how digital technology is accelerating the transformation of wealth management. Read the full report at ey.com/wealthITsurvey

1. Digital disruption in
wealth management
Accelerating the transformation
of wealth management through
digital technology
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High performers Low performers
Spend more on
front-office initiatives
Outsource more and get
more value through business
efficiency and growth
Have less discretionary
IT spend and extract
more value
% of total IT spend
39%
39%
54%
24%
29%
60%
How to win in wealth management
higher IT share of cost
when platform older
than 10 years
1.4x
% of business functionality provided
Total cost of ownership
Top performers also use fit-for-purpose IT platforms
5.9%
8.3%
Best-of-breed
IT platform
Off-the-shelf
IT platform
Best-of-breed
IT platform
Off-the-shelf
IT platform
What do my clients expect in terms of digital capabilities?
What can I learn from new digital upstarts?
How can I benefit from emerging ecosystems of FinTech providers?
Top performers take actions and make investments in areas
with the most impact.
60.4%
79.1%
Key questions wealth managers must ask themselves
Read the full report: ey.com/wealthITsurvey
Why incumbent wealth managers must act
Emergence of
FinTechs as
Assets under management
growth by robo-advisors every
few months
of high net-worth
clients would value
robo-advice
70%2x
New competition
Source of innovation
Collaborators
in new business
models