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Explanation of terms Wealth management
Wealth management is that investment advisory discipline that incorporates portfolio management, financial planning along with a number of financial services that are offered by a complicated mix of retail banks, custodial banks, asset managers, and financial planners (Cozzolino, Verona & Rothaermel, 2018:1168). Clients who work in coordination with a single wealth manager involve coordination of advice from the attorney, insurance agent and accountants of the client.
Digital disruptionIn the words of Bughin & Van Zeebroeck (2017:82), Digital disruption is that transformation which is caused by emerging business models and digital technologies. These new and innovative models and technologies can have an impact on the value of existing goods and services that are offered in the industry. A disruptive technology is that technology which replaces or displaces an existing or established technology and shakes the industry or a product for creating a new sector.
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