Asian Wealth Management Clients Desire Both Digital Delivery and Customer Service

Published: January 2022

 

Aon’s research of wealth management clients in Asia finds a strong desire for low-cost digital delivery. However, clients say customer service and human interaction also remain important. These priorities give fintech startups and traditional advisors strengths to build on.

Digitalisation has been transforming the Asian wealth management industry for years, and recent government action has accelerated that trend.

By October 2021, the Hong Kong Monetary Authority (HKMA) launched eight virtual banks to promote fintech and innovation, as well as offer a new kind of customer experience. Meanwhile, the Monetary Authority of Singapore (MAS) has approved the country’s first digital banking licenses to strengthen Singapore’s banking and finance sector.

Aon's Global Insights database, which collected data from wealth clients throughout 2021 covering all the key markets in Asia, provides key insights into the sentiments of approximately 1,200 high net worth individuals (HNWIs) with investible assets of more than $1m. Findings revealed a strong openness and appetite towards being serviced digitally. Close to 60 per cent of HNWIs in Asia are willing to manage their wealth through digital channels – most notably among clients residing in emerging markets such as Indonesia, China and Malaysia.

***To read the full article, which was first published in The Financial Times' Professional Wealth Management publication, please click here.  

General Disclaimer
The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information and use sources we consider reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Terms of Use
The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. To use information contained herein, please write to our team.



Talk to an Expert

Let us know how we can help and a member of our team will be in touch shortly.

Aon group companies will use your personal information to contact you from time to time about other products, services and events that we feel may be of interest to you. All personal information is collected and used in accordance with our privacy statement.

If you do not wish to receive these communications, please check here: