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The Top 3 Technology Topics on the Minds of Wealth Managers in 2023

Sikich

Sep 6 2023

2 min read

Our team of technology experts are constantly communicating with financial services professionals, including wealth and asset managers. While every firm has its own specific needs and objectives when it comes to technology, there are certain subjects on every wealth manager’s mind. Here are the three technology topics that are trending in 2023 for wealth managers.

Cybersecurity

One topic that comes up frequently among our clients at Sikich, not just in the management and financial services industry, but across a wide range of industries, is the threat of cybersecurity attacks. In recent years, we’ve seen an increase of ransomware attacks and malware attacks, which has been shocking to businesses and individual clients alike.

Thankfully, Salesforce was built with many features engineered to protect the cybersecurity of firms that use it, including multi-factor authentication (MFA), data encryption, role-based access controls (RBAC), and audit trails. Additionally, Salesforce regularly rolls out security updates to ensure the platform is protected against new cyber threats.

Artificial Intelligence (AI)

It seems like everyone is talking about artificial intelligence these days, and wealth managers are no exception. Salesforce’s AI platform Einstein Analytics allows wealth management firms to reap the benefits of AI technology across several areas of their business. With additional Salesforce AI tools like Einstein Next Best Action and Einstein GPT, wealth managers can streamline their workflow, get better insights into client needs and behavior, make better predictions, and much more.

Automation Tools

Throughout the COVID-pandemic, stock market fluctuations, and any other challenge our modern times throws at us, the most critical question for wealth managers remains the same as ever: How can wealth managers help their clients achieve their financial goals?

Salesforce’s Financial Services Cloud is loaded with tools designed for that purpose, including real-time insights on market trends and investment opportunities, collaboration tools that improve internal communications and client-manager relationships, and automation tools that allow wealth managers to spend more time working with clients and less time uploading and onboarding clients.

What’s on your mind?

If you have questions about how Salesforce tools can protect your wealth management firm against cyber security threats, improve your workflows and performance through AI technologies, and help your clients achieve their financial goals, contact Sikich today.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 