In an age of rapid digital transformation and changing customer expectations, wealth management and investment firms are working harder than ever to provide continuity for their clients.

As a result, many digital advocates within wealth management firms are urgently making the case for digital channels and platforms as customers become more mobile and digital challengers begin to grow their market share.

However, they are facing a multitude of challenges, not least from senior leaders who raise concerns that digital transformation goes against the grain of a rich heritage of in-person client relationships as well as highlighting the cost and security implications of moving customer data onto new technology at a time of disruption.

Transformation efforts are also hamstrung by a lack of co-ordinated thinking between C-suite management and technical leaders as to who should lead on digital strategy.

Against this backdrop of risk and siloed working, digital paralysis may set in, with firms opting to do nothing or invest in low-return initiatives without giving thought to delivering greater value for the customer as part of an end-to-end digital journey which covers onboarding to real-time investment tracking to more personalised engagement.