Nick Baker: How can wealth managers get ahead of the fintech revolution?

So what are the important drivers to accelerating the digitisation of wealth and asset management? There is no doubt the need to reduce costs will drive greater use of technology. The wealth and asset management sector has not performed well since the financial crisis in this regard - in 2008, the cost-to-income ratio was 62% but, by 2014 according to Cap Gemini, this had soared to 84%. Regulatory changes are fuelling rising costs - for example, the ‘MiFID 2' proposals for attributing research costs will impact margins. At the same time, consumer pressure and competition from new players...