Thought Leadership / In The News / Mirador’s Michael Gault discusses “operational volatility” within the wealth management industry.
Michael Gault, Head of Mirador’s Expert Services technology consulting practice, writes about the new “operational volatility” the wealth management industry is facing in the recently published WealthManagement.com 2022 Midyear Outlook. Advisors facing disruptions due to “operational volatility” must make difficult decisions based on factors out of their control.
Gault discusses this “operational volatility” and the choices firms have in combatting it. He states, “Operational excellence is most often delivered by firms that have codified workflow processes, strong governance policies and institutionalized change management practices, even down to a 10-person office.” Gault also believes that firms who utilize outside specialists and technology during troubling times can gain a competitive edge over others in the industry.
The human and business impacts of the global pandemic have permanently reshaped how financial advisors interact with clients, manage their workflow, communicate with colleagues and think about their practice. The Midyear Outlook special issue details how companies have responded to the challenges of the past year, along with industry outlooks, market forecasts, educational information and best practice ideas that will help wealth managers better plan and succeed in 2022 and beyond.
Find the 2022 Midyear Outlook here: https://bluetoad.com/publication/?i=758140&p=100&view=issueViewer