Skills Gaps and Talent Crunches Threatening Wealth Management Firms

Wealth managers are facing a critical time of organizational change. The existing corporate culture is often at odds with the needs of the ongoing digital revolution and firms are left facing a lack of skills crucial to forward success. Additionally, firms are also dealing with two skills gaps—a soft skills gap and a hard skills gap. With machine automation comes the raising importance of soft skills but these critical skills are often lacking in firms. Likewise, technological advancements mean that firms are competing for hard skills like data science or AI/ML expertise. This report examines the various skills gaps facing wealth management firms and helps readers plot their best way forward.