The wealth management business is in a race — not just a technology race, but a race to engage today’s diverse asset management customers. On the latest episode of the ABA Banking Journal Podcast — sponsored by Reich and Tang Deposit Solutions — top wealth management executive Gunjan Kedia explains what U.S. Bank is doing to better serve women in the marketplace amid sweeping demographic changes.
With $21 trillion currently managed by women, “I’m challenging our industry to be ready for them,” Kedia says. She discusses research on how wealth managers can more effectively engage with women. Contrary to surveys, women aren’t actually less confident in wealth management, she says; they just don’t receive messages in language that resonates. “They want to talk more about the purpose of what money can do, rather than just the number.”
Speaking on the sidelines of the ABA Wealth Management and Trust Conference, Kedia also discusses the convergence of four traditional models of wealth management and how U.S. Bank’s “smart DIY” approach to wealth technology is expanding customers’ financial capabilities. “It’s a little bit of a race on who gets to all the positives of the four models first.”
If you can’t see the audio player above, click here to listen to this week’s episode.
This episode is sponsored by Reich and Tang Deposit Solutions.