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The Changing Demographic of the Wealth Customer

66% of children fire their parent's financial advisor

The statistic above is startling and a testament to the approaching behavioral changes of the investor. It is estimated that $68 trillion will change hands from aging households to their heirs and charity over the next decade*(The Cerulli Report: The Shifting Demographics of Private Wealth, November 2018). This massive transfer of wealth will usher in a whole new investment environment and client. Millennials are the next generation of wealth and they are digitally savvy, want immediate feedback and attention, they want to be educated and advised without feeling judged or taken advantage of and most of all they want more control over their money at a lower cost. 

How is the investment management industry preparing? Many firms are looking for a way to provide the digital and judgement free experience that will resonate with this new demographic. They know this digital experience must entice and delight these digitally savvy customers to engage with their financial institution and investment advisor. In response to this growing need, Kasisto has announced the launch of KAI Investment Management (KIM).

Everyone at Kasisto is so excited to bring KIM to the investment and wealth management market. 

Kasisto’s intelligent Virtual Investment Assistant, KIM, provides wealth managers the ability to offer the digital experiences millennials will expect and provide the instantaneous answers and insights into their financial questions, anytime-anywhere!  

KIM also asks questions, gets to know customers, learns goals, life plans, and what’s really important to investors financially. KIM provides answers and insights, quickly responding to portfolio, account and market questions while always helping to guide the customer’s financial journey, well being and needs.

KIM will help wealth managers build the relationships they want with their new investment clients, grow their business, while promoting financial well being. 

To learn more, please take a look at our KAI Investment Management page.