Fintech Friday: Wealth Dynamix

Gary Linieres, co-founder and CEO of Wealth Dynamix, spoke with Efma’s Boris Plantier about his company’s origins and their recent (and future) global expansion.

What led to the creation of Wealth Dynamix?

Wealth Dynamix was born out of my passion for wealth management and frustration that the client was being poorly served. My mission was to solve a myriad of client management issues with technology and to significantly enrich the client experience rather than focusing on servicing accounts and portfolios. Client success and independent validation are two of our greatest achievements.

Winning our first clients, all prestigious UK wealth management firms, was a notable stake in the ground. For firms like Quilter Cheviot, Ruffer, Brewin, Cazenove, Rothschild and Rathbones to entrust Wealth Dynamix with their Client Lifecycle Management was a major coup. Seeing all of their staff using our software was incredible. Our growth rate has also been impressive, now that we are earning the trust of large global banks.

Wealth Dynamix now operates across the UK, Europe and USA, with expansion last year into the APAC market with a new office in Singapore. During the last twelve months, Wealth Dynamix has won a number of new clients including a major global financial institution who will implement our solution across nine jurisdictions.

Could you present Wealth Dynamix's offer?

Wealth managers currently face three key challenges:
· Too much friction and inefficiency throughout the client lifecycle
· Compliance remains a major hurdle
· Digitizing the client experience and service is a marathon, not a sprint

In 2020 we are seeing the perfect storm. Cost cutting is key to maintaining fees at a competitive level and ensuring profitable cost-income ratios, but client service remains the number one consideration.

The Wealth Dynamix WDX1 solution takes the pain out of day-to-day client management tasks by automating manual processes and consolidating a multitude of disparate systems and silos of information into one joined-up platform, with a single log in and user interface. It remains a mystery to me why most vendors have invested heavily in developing onboarding solutions, then bolted them onto other systems as an afterthought, leading to inconsistent quality, functionality and customer experience across the client lifecycle. The client experience begins way before onboarding and extends far beyond it. Wealth Dynamix has always viewed client lifecycle management holistically, and challenges across the entire lifecycle are addressed by WDX1 to ensure happy outcomes.

What's coming next for Wealth Dynamix?

The next twelve months is packed with innovation and initiatives that will support wealth managers in their quest to better serve clients and grow revenues. We are sharpening the saw around our products, enriching our technology platform with actionable AI, cognitive services, and remote working and mobile solutions that deliver real value. As a business we will grow substantially. As well as deepening our roots in home markets we will expand globally into North America and extend our reach into Asia, which is proving to be a very exciting market for us.