Digital investments in wealth management will more than triple in the coming year according to BCG
(Bloomberg) -- Money-management companies targeting $222 trillion of wealth up for grabs by 2019 should invest more in digital services to prevent losing market share, Boston Consulting Group said. Digital investments in the U.S. alone will more than triple to as much as $60 billion this year from about $16 billion at the start of 2014, Boston researcher Aite Group predicts. Similar ventures are beginning in other countries. Switzerland has nascent financial technology hubs in Zurich and the Geneva area, while Paris-based Yomoni completed its first fundraising round of 3.5 million euros ($4 million) in June, as it seeks to emerge this year as France’s first online-only asset management company, offering access to exchange-traded funds for low, transparent fees. 8 Securities in Hong Kong announced “Asia’s first robo-investing service” earlier this year. Asia Gains
