Wealth management firms and trust companies year after year face three main challenges: attaining growth, consistently meeting regulatory requirements and gaining operational efficiencies.
SunGard, a software and IT services provider, asked 129 executives how their firms positioned themselves to deal with these challenges. Respondents represented North American community banks, regional trust banks, global banks, family offices and registered investment advisors.
In a study released Wednesday, SunGard reported that 41% of executives said achieving smarter operations through efficiency was the one thing they would change to make their typical day easier.
Thirty-six percent said that enhanced client service and front-office innovation were their key priorities for growth.
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