INDUSTRY RESEARCH
Confronting the Chaos
The hidden crisis of data integration, system fragmentation and inefficiencies.
Imagine a financial landscape where Australians' financial needs are met with seamless, efficient, and affordable advice—where wealth managers and financial advisers can overcome the pressures, challenges, and inefficiencies they face to make this a reality. However, Australia’s wealth management ecosystem faces critical challenges, with data inefficiencies that risk hindering this vision. This calls for proactive solutions and committed action. This is not a distant problem; it is a pressing crisis that demands immediate attention and action
Elemnta has taken a bold step in addressing these crippling issues plaguing the industry by commissioning independent research from Marshan Consulting, titled "Data Storm: Exposing the real data challenges in Australian wealth management practices."
One industry.
Many perspectives.
[and challenges]
THE RESEARCH PAPER
DATA STORM:
EXPOSING THE REAL DATA CHALLENGES IN AUSTRALIAN WEALTH MANAGEMENT PRACTICES
Braving the data storm. The reality check we can no longer ignore.
A sobering examination of the obstacles facing Australian wealth management and financial advice practices today. This groundbreaking study reveals the truth amid the chaos, highlighting the alarming data failures, inefficiencies and limitations that complicate their ability to provide quality financial guidance and support to clients.
We are at a crossroads: unless we confront these staggering challenges head-on, the ability to deliver quality, accessible, and affordable financial advice hangs in the balance.
This research is a comprehensive exploration of critical challenges faced by Australia’s wealth management and financial advice profession and outlines their aspirations to build an efficient and client-centric industry
Critical insights
Data integration
Staggering advice delaysCompliance conundrum
Diminished client satisfaction
THE WHITE PAPER
A FRACTURED FOUNDATION:
THE CRITICAL ISSUE HOLDING BACK AUSTRALIA’S WEALTH ECOSYSTEM
A warning sign. Don’t let the cracks in our foundation widen.
Australia's wealth management industry is at a pivotal moment, grappling with fragmented systems, data inefficiencies, outdated technology, and a fractured foundation that complicates operations, product implementation, innovation, and reporting. These challenges strain the entire ecosystem, stifling growth and progress.
Yet within these challenges lies a significant opportunity. Product manufacturers can bridge critical gaps, fostering stronger connections between industry participants and driving transformation through digital-first strategies. This is the new battleground: those who embrace connectivity and innovation will lead the way, delivering competitive, integrated services for a rapidly evolving market.
This white paper unveils these challenges and outlines a path toward a resilient and cohesive future for Australia’s wealth management industry.
Critical insights
Systemic challenges
Operational inefficiencies
Obstruction to growth
Reputation at risk
Corporate briefing
For a deep dive into the analysis, apply for an executive briefing with our leaders at Elemnta and Marshan Consulting by clicking on the button below or emailing us at hello@elemnta.com
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Elemnta
Together, we can build a resilient foundation.