August 22, 2023

Scaling for Wealth and Asset Managers: The Roadmap to Growth

We all know that there are no shortcuts to Easy Street, but a roadmap is essential for wealth and asset management professionals who want to scale business–not to mention revenue. 

But how do you define scaling and how do you get on the on-ramp to success? Read on for answers, insights, and the financial services equivalent to a GPS. 

Scaling for Wealth and Asset Managers: The Roadmap to Growth

Defining success.

What’s in a name? When it comes to the term “scaling,” a lot. 

While some say that scaling is simply growth, others counter that it’s an outcome of successful processes executed by the right people, while still others suggest that more volume requires greater systemization through technology. 

The answer: there is no easy answer. 

Or more accurately, no single answer for every wealth or asset management firm. There are, however, steps that enable financial professionals to grow business without growing headaches. Here are the top six.

Step 1: Lay out your roadmap.

Want to take your wealth or asset management firm further? Map out where you’re going and how you’ll get there. 

A business roadmap highlights business goals and milestones in order to bridge the gap between the Here and Now and the We’ve Made It. Depicted via timelines that call out deadlines and swimlanes which track team contributions, roadmaps come in different forms for different uses. Want a blueprint for your vision? Draft a strategic roadmap with long-term objectives and overarching themes. Early-stage company? Build a startup roadmap that accounts for the speed bumps and deadends as you work toward growth. Angling for world (or at least business) domination? Opt for a business development roadmap for rapid revenue and market-share growth in a compressed time frame. 

Whether you’re an enterprise organization looking to align stakeholders or a data manager keen on making data-informed decisions, the right roadmap will help you get There–wherever There is for your company.

Step 2: Prioritize clients.

Prioritizing tasks via a business roadmap is only half of the success equation. The other half: prioritizing clients. 

As we mentioned in this blog post, today’s financial services clients demand personalization and high-touch experiences. To effectively grow your wealth or asset management firm, you must maintain a strong focus on nurturing client relationships. Tailoring investment strategies to individual needs and maintaining open lines of communication fosters trust and loyalty, which leads to higher satisfaction–which in turn leads to more business and more frequent referrals. 

Just make sure that you’re working to retain existing customers while attracting new ones. In addition to personalizing experiences, insights, and recommendations, nurture relationships via outreach emails, educational resources, and client meetings. 

Step 3: Add talent.

Finance may be a numbers game, but it’s a people business. Make sure that your firm has the right people in place to build relationships, right along with business. 

Attracting top-tier talent with expertise in financial analysis, compliance, and client management is essential. But don’t stop there. Invest in your team–whether they’re existing employees or new hires–with continuous training and professional development that ensures that they’re at the leading edge of industry trends and regulatory changes. It’s sure to pay dividends in happy clients–and positive ROI. 

Step 4: Keep your eye on regulations.

With growth comes increased scrutiny from regulatory bodies. Staying up-to-date with evolving regulations–including privacy and compliance– and ensuring that your firm's practices align with industry standards will safeguard your reputation, create peace of mind, and prevent potential legal issues.

Step 5: Make strong operations standard operating procedure.

Scaling without a solid operational foundation can lead to inefficiencies and breakdowns. Create a scalable infrastructure, including IT systems, data storage, and reporting mechanisms, to support the increased demand as your client base grows. Automating repetitive tasks can free up valuable time for strategic decision-making.

Also monitor your KPIs regularly and make adjustments to your operations, strategies, and systems as needed. Use data analytics to help identify areas that require improvement and to measure the impact of your initiatives. Regularly assess your progress and make adjustments. After all, the road to success has twists and turns and keeping your eyes on the destination will help you stay on track. 

Step 6: Put the right tech in the right place.

The financial services industry moves fast. You need tech that can keep up. 

Now more than ever, technology is essential for any wealth or asset management firm that wants to scale. Technology employs automation that empowers teams to streamline operations, reduce costs, and improve accuracy. The right tech also offers AI-driven analytics that power recommendations, enhance client experiences, and improve decision-making.

Drive growth. Get into ForwardLane.

ForwardLane puts wealth and asset management firms in the fast lane for growth. With years of experience in financial services, ForwardLane offers industry expertise with terminology, use cases, and workflows baked right in.

ForwardLane’s flexible, customizable solutions are one-size-fits YOU with solutions that mold to your specific needs. We move at the speed of business, delivering faster deployment and iteration than other approaches, with white glove service, exceptional pricing, and leading-edge, compliant technology. 

Capabilities include:

Vertical-specific data –  Datasets and signals tailored specifically for financial services use cases

Hybrid AI approach –  Trainable custom models with access to large pretrained models for powerful flexibility

Explainability –  Keen visibility into the drivers behind each insight, critical for regulated industries

Privacy preservation –  Financial data privacy, localization and compliance. Peace of mind

Real-time insights –  Minimal latency from data to insights

Tight CRM integration –  Embedded directly in key workflows like Salesforce to reduce context switching

Insight customization – Tune insights to each client's needs without custom development


data-driven revenue growth


faster time to insight

See how ForwardLane’s agile, high-service team and unparalleled technology deliver 150% data-driven revenue growth, 650% faster time to insights, reduced risk with better compliance, greater consistency across advisors, and stronger client engagement and loyalty. 

Schedule a demo.

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