Get the Tata Capital App to apply for Loans & manage your account. Download Now


Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer

Tata Capital > Blog > Wealth Services > How Wealth Management is Evolving with Technology

Wealth Services

How Wealth Management is Evolving with Technology

How Wealth Management is Evolving with Technology

In recent years, technology has progressed tremendously, giving way to innovative solutions that have radically transformed the way several sectors function. The wealth management industry is the latest in a long lineup of sectors that have adapted to and evolved with futuristic technological solutions. The days when wealth managers and financial advisors spent hours poring over spreadsheets and formulas to perform calculations and analysis may just be behind us for good. Artificial Intelligence (AI) has now made these conventional methods of wealth management nearly entirely redundant.

Thanks to this positive development in the wealth management sector, the entire financial landscape now shows promise of simpler solutions to complex fiscal problems. As an investor, you now have access to an environment that allows you to leverage the latest technologies to manage your wealth much more effectively. Read on to find out more about how wealth management has evolved with technology. 

Process automation and digital identification

This is one of the major ways in which wealth management has evolved with the introduction of new-age technological solutions. Earlier, wealth management depended greatly on manual client onboarding processes that were not only time-consuming, but also increased the volume of paperwork for both the wealth manager and the customer.

Now, the introduction of digital identification methods such as paperless Aadhaar e-KYC has allowed the practice of wealth management to evolve from dependence on manual intervention to entirely automated operations. In addition to this, the wealth management industry has also intelligently leveraged the automation of processes using Artificial Intelligence to onboard clients. Thanks to this excellent use of technology, the entire process of client introduction and management has now become effortless. In fact, the entire process now only takes around a couple of hours as opposed to several days, which was the case with conventional methods. 

Automated investment and portfolio advisory services

The integration of technology into wealth management goes deeper than client onboarding alone. Wealth management experts are increasingly employing Artificial Intelligence to help advise and manage the investments of their clients. Automation of these core services makes it possible for the wealth management industry to provide clients with a customized service experience that’s driven by AI. 

Since all the back-end processes involved in investment and portfolio advisory and management are taken care of by AI, the results that you get are highly objective and unbiased. It also brings greater levels of discipline into the process of wealth creation and management, enabling you to enjoy higher returns without being weighed down by human bias. The use of technology has resulted in rapid evolution of wealth management, since everything from suggesting the right stocks to tracking and monitoring your investment portfolio has been improved by automation.

Predictive analysis using algorithms

Before technology overhauled the wealth management industry, portfolio advisors and wealth managers had to manually track the performance of equity stocks to predict their movements. This included sifting through tons of historical price data, charting of current price movements, and using multiple formulas for calculating and assessing technical indicators. 

However, recent developments in technology have changed the way experts help clients manage their wealth. In the current scenario, wealth management utilizes programmed algorithms and specialized tools to help predict the price movement of stocks. Artificial Intelligence has significantly increased the accuracy of price predictions and enhanced the ability to easily recognize entry and exit points. Wealth managers are also increasingly utilizing algorithmic predictive analysis to identify the financial and non-financial assets that can help you achieve your financial and personal life goals.

Back-testing of strategies

This is another great example of how wealth management has evolved to utilize technology to its advantage. Previously, even though wealth managers and advisory experts were capable of manually devising wealth creation strategies, it was not possible to test these strategies in the real world. Therefore, the impact of such strategies couldn’t be fully analyzed or predicted until they were actually implemented. This effectively made many solutions either a hit or a miss, often putting clients’ investments at risk.

With the evolution of wealth management, financial and wealth creation strategies can now be tested thoroughly under current market conditions and environments. This ability to back-test financial plans and strategies has made it possible to increase the accuracy of the decisions taken by wealth managers, while simultaneously reducing the risk factor.

Use of AI in customer service

Without technological support, wealth management service providers may find it overwhelming to attend to the requirements of their clients round the clock. This can ultimately lead to draining of resources, thereby affecting the quality of service provided to customers. Here’s where Artificial Intelligence and machine learning, two of the world’s most cutting-edge technologies, have helped bring about the evolution of wealth management.

An increasing number of service providers are now providing chatbots powered by Artificial Intelligence to help handle customers’ queries. AI helps reduce the strain on the experts in the wealth management industry by directing only important and high-priority queries and demands over to the respective personnel. With machine learning, the AI can even capture and learn from the customer interaction over time.


These recent developments go on to show how rapidly wealth management has progressed by embracing new-age technological solutions. You can also take advantage of these developments by subscribing to the wealth management services offered by Tata Capital. With the winning combination of expert assistance and innovative solutions, you can harness your wealth to achieve your financial goals in record time.

Leave a Reply

Your email address will not be published. Required fields are marked *