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A global report by one of the big four accounting firms indicates wealth management is one of the least tech-literate sectors in financial services, with urgent action needed as relationship managers are "dangerously overestimating" their firms' digital capabilities.
According to the report, titled Sink or swim: Why wealth management can't afford to miss the digital wave, 69 per cent of high-net-worth individuals (HNWIs) are now using online and mobile banking, but only a quarter of advisers offer digital channels beyond email.
Read the full story on SMSF Adviser.