59 Expectation Gap Between Technology Capabilities And Demand in Wealth Management While high net worth individuals (HNWIs) enthusiastically adopt new technologies, the wealth management sector is one of the least tech literate segments of the Financial Services industry. PwC’s recent survey on the Wealth Management “Sink or Swim” revealed that 69% of high net worth individuals use online banking but only 1 out of 4 wealth managers offer digital channels that go beyond email. Additionally, by 2020, millennials and generation X will control over half of all CH investable assets and wealth management companies need to have a strategy to on- TE boardandretainthesegenerationsofdigitalnatives. N I F F O Wesee this as an opportunity for Wealth Managers to partner with FinTech companies to TE leverage on each others’ strengths to build products and services that cater for this wealthy TA S tech savvy generation. E TH The Future of FinTech in Asia Pacific: Wealth Management 59