We are delighted to tell you that TWM Group was recognized as the Digital Innovator of the Year at the annual Wealth Professional Awards.
A few years ago, the Total Wealth Management Group team made an important decision: to embrace digital technology.
We did so not to replace the vitally important personal contact and rapport between our team and our clients, but to enhance and strengthen it. Digital communication helps us add speed and clarity to what is, after all, a human relationship.
To win an award like this was an honour. But, far more important, we want to share with you a few of the steps we took – and continue to take – to earn this level of industry recognition.
TWM Group is constantly improving to be the best wealth management team in Canada. To achieve this, we’ve built an infrastructure enabling us to increase our efficiency and scale while maintaining an intimate degree of client contact. The digital component is central to that effort.
A collaborative culture
Well before the COVID-19 crisis made even clearer the importance of technology and forced most industries into a digital transformation, we had optimized our daily operations and strengthened our culture by switching to collaborative tools and cloud storage. This gave our team the flexibility to work from different locations and schedules on shared projects.
The shift also allowed us to detect the automation potential in our operations. We then focused on having all basic, repetitive tasks automated to reduce human-error and lead time. Most importantly, we wanted to free our team to focus their unique abilities on activities that add value to our clients.
Through our inhouse development and business analytics services, we are able to:
- Closely monitor our investment performance related to relevant benchmarks.
- Create interactive visualizations of our clients’ portfolios.
- Enable clients to examine their portfolios’ composition, expected return, volatility and evolution – regardless of their financial knowledge.
A clear and demystified approach to wealth management
Seen from the outside, digital technology may appear to be cold and distancing, but managed with sensitivity, it can help deliver a clear and demystified approach to wealth management.
Digital technology will never replace, nor is it intended to replace the personal touch. That remains fundamental. What it can do is enable us to communicate with clients through customized, interactive and easy-to-understand tools.
Financial literacy
We feed our website and social media platforms weekly with original educational content to increase financial literacy. Technology also comes to our aid to fulfil this goal, allowing us to produce monthly in-house videos addressing the issues most clients want us to talk about.
Our video-segment “Chart of the Month” has become particularly popular. Produced using green-screen animations and filmed in cinematic quality, these videos insert our Portfolio Managers into the animations to better explain the charts.
In our experience, video is a powerful engagement tool, and the response we’ve gotten has been outstanding.
The delivery of positive outcomes
Digital technology has allowed us to have faster and more accurate response times and a more collaborative culture. Our team also enjoys a better life-work balance, allowing us to retain highly motivated and productive people, which translates into enhanced client care levels.
Within many other lessons, 2020 has shown us the drastic difference technology can make in people’s and businesses’ resilience. The innovations coming ahead are quite exciting. The speed with which we adapt to this fast-changing world is particularly critical in leading economies as our own.
Looking forward, our responsibility will be to use technology as a means to come closer together and make communication more human.
