Many wealth management firms are struggling to keep up-to-date with technological developments, yet few see the need to invest in people skilled in technology.
A survey of 500 executives in asset management, capital markets and private wealth showed 38 percent found keeping up-to-ate with technological change to be “a challenge”. The study was conducted by Intertrust, an administrative services firm.
Forty-five percent said they had a skill shortage in regtech and compliance, 35 percent in artificial intelligence, and 30 percent in cyber security.
Of the respondents, 16 percent said their firm is...