Unlock Your Access for the Data Webinar: Winning Data Teams: Getting Started and Scaling Your Team aired November 15, 2022

Twenty years ago, the majority of new accounts opened by banks were trust accounts, while only a small minority were advisory accounts.  That has since flipped 180 degrees.  Now, the majority of accounts are advisory, with only a small percentage being trust accounts.  Yet, many bank wealth management groups still put all of their accounts onto their trust accounting platform, since it is more convenient.

A growing industry trend is for banks to start their own registered investment advisor (RIA) and implement an investment advisory accounting and portfolio management platform.  Then, new advisory business can be opened on the new platform and existing business can be migrated over in time.

I was fortunate to catch some time last week with Doug Fritz, president of F2 Strategy Consulting, while he was on a family vacation in Hawaii.  Taking a break from the sun and sand, Doug and I had a wide-ranging discussion over Skype, which I recorded and posted on the WMToday YouTube channel.  Some of the concepts we covered included:

A few of the questions that we answer during this chat include:

Click the link below to watch the video.  (Just 15 minutes long!)

Bank Wealth Management

We are planning a series of video discussions on bank wealth management technology and trends.  Watch this space for updates!