The world is being reshaped. Are you ready for the new digital world?
“Redefinition of Digital Wealth Management:
Neither pure online wealth management nor pure cash management, digital wealth management differs from traditional wealth management in terms of its value proposition, clients, products, services and channels. Technology will drive changes in the market.”
– BCG – Global Digital Wealth Management Report 2018 (*)
• Why “Digital Wealth Management” is important for your company?
• Why this domain name is important for your company?
• Acquisiton Details
WHY “DIGITAL WEALTH MANAGEMENT” IS IMPORTANT FOR YOUR COMPANY?
WHAT DO EXPERTS SAY ABOUT THE FUTURE OF WEALTH MANAGEMENT AND DIGITALIZATION?
“The future of wealth management will be decided on the digital battleground.”
– Rohit Mahna – Salesforce (*)
“Digital wealth management is the direction of the industry.”
– Jay Shah, CEO, Personal Capital (*)
“One would be hard-pressed to deny the impact that digital wealth management is having on the investing landscape. In the US market alone, estimates suggest that — by 2020 — more than US$2.2 trillion in assets under management will be flowing through digital advice platforms, growing at a rate of around 68 percent over the next 5 years.”
– KPMG – Creating A Sustainable Digital Wealth Management Platform Report (*)
“Currently, an estimated 100 billion dollars is managed worldwide by digital wealth managers, approximately 80% in the USA (source: TechFluence). This figure is incredibly small, given that the asset management industry manages approximately 60 trillion dollars. However, the growth picture is strong with realised annual rates of +50% and an expectation of a market size of 16 trillion dollars by 2025 (source: Financial Times).”
– TheWealthTECHBook, Ten Reasons Why Digital Wealth Management Will Become A Worldwide Market Standard by Michael Mellinghoff (*, **)
“North American Wealth Management Firms Must Embrace Digital To Stay Relevant.”
– Forrester Report by Vijay Raghavan (*)
“The digitization of the investment industry is happening. If you are not yet on board, you can expect to start losing business as you’re unable to meet customers’ ever-changing online needs”
– Dean Butler, head of retail wealth, HSBC UK (*)
“The successful wealth managers will be the ones who adopt digital wealth management and can demonstrate that they have access to all of that information as well, combined with the capability to use it to drive investment solutions.”
– Refinitiv – A New Model For Digital Wealth Management Report (*)
“With the advent of Automated Digital Wealth Management solutions, the traditional wealth management industry is facing perhaps its most disruptive threat since low-cost online stock trading emerged in the mid 1990’s.”
– FT Partners – Are the Robots Taking Over The Emergence of Automated Digital Wealth Management Solutions? Report (*)
“We are on a mission to basically take every customer interaction and every process of the bank—and digitize the whole thing.”
– Darryl West, CIO, HSBC (*)
“We are a technology company with a banking license.”
– Michael Corbat, CEO, Citigroup (*)
“Operators need to redesign their business models, exploiting new distribution channels and Digital Wealth Management-based solutions, in order to keep an offer tailored to market preferences. Indeed, the advent of Digital Wealth Management solutions has profoundly changed the traditional value chain based on a customer-manager relationship and fostered a progressive disintermediation process, similar to what happened in the banking industry. “
– PWC – Digital Wealth Management, The Frontier To Informed Financial Investments Report (*)
“New financial technology companies are disrupting the market. In order to stay competitive, wealth management firms need to take a fresh approach, supplementing legacy applications with systems of engagement and systems of insight.”
– IBM (*)
“Millennials are, by far, the most digitally savvy investor group overall, according to Accenture’s Wealth in the Digital Age Investor survey.
Traditional wealth management firms should up their digital game not only because Millennials demand it, but also because non-traditional competitors offer more in the digital arena. Almost half of Millennials (45 percent) are open to using alternatives like Google’s investment options, having grown up with tech brands at the center of their consumer lives.”
– Accenture – Millenials & Money / The Millenial Investor Becomes A Force Report (*)
“According to GlobalData’s 2018 Global Wealth Managers Survey, the majority of wealth managers believe that digital services are more important to the next generation of clients than the current investor base.
However, 32% of wealth managers believe it is equally important to all generations, which shows that targeting digital services exclusively at the younger demographic will be self-defeating for wealth managers.”
– Sergel Woldemichael, Wealth Management Analyst at GlobalData (*, **)
“Our survey of 1,503 investment providers and personal interviews with senior executives and experts across the globe point to one undeniable trend: The financial services industry is going through a massive digital disruption, similar to the one seen in retail and other industries. For most executives, the question is no longer whether the industry will go through a digital metamorphosis, but how can they ensure they are not left behind. Gonzalo Rodriguez, head of digital transformation, Spain, at BBVA, speaks for many when he says: ‘The industry is going through a major digital transformation, and it is going to look very different 5 to 10 years down the road.’ “
– Oracle & ThoughtLab’s “Wealth and Asset Management 2022: The Path to Digital Leadership” Report (*)
“The wealth management industry now needs to provide both its current and future clients with a substantially evolved service model or risk losing market share. Faced with low levels of client advocacy and a rising appetite among its target audience for digitally-enabled living, CEOs of traditional wealth management firms need to accelerate their efforts to integrate technology into their business. By overestimating their current technology offering, firms are now critically vulnerable to FinTech innovators who can present the world’s wealthy with slick and highly personalised ways to manage and coordinate their assets, and leverage their real-time personal data continuously to make better financial decisions.”
– PWC – Sink or Swim: Why Wealth Management Can’t Afford To Miss The Digital Wave Report (*)
” We believe digital engagement will continue to gain importance in wealth management, and the prospect and client and experience is already becoming one of the industry’s most potent strategic weapons. That means that the race to deliver the best digital client (and prospect) experience will become even more competitive. “
– McKinsey – Key Trends In Digital Wealth Management — And What To Do About Them Article (*)
“In today’s digital era, investors judge investment providers not just against their financial peers, but against technology leaders like Google, Apple, and Amazon.”
– John Marcante, CIO, Vanguard (*)
“It is a fascinating time to work in digital wealth management (WM), a time of great challenges and great opportunities.”
– Deloitte – The Digital Wealth Manager Of The Future Analysis (*)
WHY THIS DOMAIN NAME IS IMPORTANT FOR YOUR COMPANY?
A VISIONARY APPROACH:
As Michael Cyger who is one of the best domain name industry experts said, “Large companies realize that owning a generic domain name can provide enormous benefits, including: trust, authority, type-in traffic, branding, search engine ranking, cost savings on future marketing, and many more.” So, visionary companies are trying to acquire the best domain names they can get. You can find some examples of this:
Large Companies That Own Generic Domain Names
Featured Examples Related to Finance Industry:
LifeInsurance.com – Northwestern Mutual
Priceless.com – Mastercard
Money.com, Mutual-Funds.com – CNN/Time Inc.
Loans.com – Bank of America
Funds.com, Retire.com, 401k.com, 529Plan.com, 529Plans.com, – Fidelity
Banking.com – NCR
Retirement.com – Prudential
Note: These examples are not limited to only large companies.
There are also too many successful startup examples like credit.com, creditcards.com, etc. too.
SAMPLE CASE STUDY
LEARN DETAILS FROM VISIONARY DOMAIN BUYERS
“Good domain is the best marketing investment ever made.”
– Max Haot – livestream.com, CEO (full story)
Question: “Why did you decide to buy the domain furniture.co.uk (for $650,000)?”
“Very simply, authority. When you buy online, subconsciously you make a judgment on the company behind the website. Having the exact match domain gives you instant authority, which would take a lot of marketing dollars to achieve with a newly registered name.”
– Graham Haynes – Founder of bedroomfurniture.co.uk (full story)
“The thing about the ‘bullion by post’ brand was that it wasn’t right for higher net-worth individuals. It was always aimed at smaller to medium investors. Now our average order on gold is already about three times what our ‘bullion by post’ order is. … For me, owning Gold.co.uk is the luxury of having a successful business.”
– Halliday Stein – British billionaire entrepreneur, Founder of gold.co.uk (full story)
Question: What moment/deal would you cite as the game-changer or turning point for the company?
“The first is when we used every penny we had to acquire the domain name Teamwork.com for €500,000. It was a huge gamble but it paid off quickly.”
– Peter Coppinger & Daniel Mackey – Teamfork.com, Founders (full story)
“Which is funny, because when the sale went through I thought of everything we could’ve bought with that money. A McLaren F1 supercar. A NetJet private membership. Five houses in Austin. You can’t even sleep inside Sumo.com! But still, I knew it was the right decision. … Ultimately, $1.5 million is a lot to spend on a domain. But Sumo is a brand we will have forever. I’ve come around on the importance of branding because it shows our customers, future employees and competition that we’re serious and here to stay.”
– Noah Kagan, Co-Founder of sumo.com (full story)
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