How to Leverage Real-Time Notifications in a Hybrid Wealth Business

The initial stages of financial planning receive the lion’s share of attention in digitalised and physical investment advice experiences. However, once the prospect becomes a client, an important part of the relationship is often neglected: engagement after purchase often decreases. Without ongoing support and guidance, clients may feel disconnected, leading to missed opportunities for the client and the wealth manager.

In today’s blog, we examine the experience of one of our clients, one of the largest insurers in Sweden, Skandia, in leveraging advanced analytics to improve communication with their customers at scale. Rather than letting their customers drift away after initial execution, Skandia uses proactive notifications to strengthen relationships, build trust, and support clients in reaching their financial milestones.

The Importance of Continuous Client Engagement

Once they’ve set their financial plans and goals, customers need reassurance that they’re on the right track. This reassurance comes from regular interaction and meaningful updates on their portfolio’s performance. While regular communication in traditional wealth businesses is usually facilitated by a team of experienced financial advisors, a more modern, omnichannel approach relies on both digital and physical experiences.

The financial analytics powering Skandia’s digital financial planning journeys have been extended to evaluate the customers’ financial situations on an ongoing basis, providing reliable and timely support for the life insurer’s clients.

By delivering timely updates in a channel of the customers’ choice, Skandia provides clients with a sense of control over their financial futures, showing them how their plans may evolve due to, for instance, market fluctuations. Consider Skandia’s client planning for retirement. They benefit from regular updates about their pension savings progress, adjusting for market changes, and any new contributions. The analytics powering Skandia’s experiences enable clients to envision how their expected pension evolves over time in their customer portal. It transforms their financial journey from something abstract into a tangible, trackable, and engaging experience.

Examples: Keeping up with Market Performance, Customer Goals and Product Universe Updates

As new investment products emerge, the fund composition changes or the investor takes the initiative to amend their portfolio, your client’s savings may drift from their intended strategy. Without proper guidance, clients may miss out on opportunities for optimisation or, worse, veer off course entirely.

Wealth managers can provide continuous value by sending personalised notifications that keep clients on track. Skandia uses the financial simulation engine, KidbrookeONE, to identify when a client’s portfolio deviates from the recommended model and offers specific suggestions for adjustments. Then, the insurer notifies the client when their portfolio no longer aligns with the ideal strategy. Besides, Skandia goes a step further by offering suggestions for funds that better match the client’s financial objectives in the client portal, helping the customers make adjustments that are easy to implement and beneficial in the long run.

Another key aspect to track is how the risk of the client’s portfolio changes over time. Risk tolerance varies from client to client, but one constant remains: clients need to know when their portfolio’s risk level is straying from their preferences. When a portfolio drifts outside of the client’s desired risk level, Skandia’s timely alerts can prompt necessary adjustments. For instance, clients are automatically informed if their portfolio is taking on too much risk, with actionable recommendations provided to bring it back in line – all powered to be executed at scale by financial analytics technology.

Importantly, the notifications can also be triggered by the ongoing evaluation of Skandia’s product universe making it easy to notify clients about high-performing funds and those no longer available in the product universe within the client’s portfolio. For example, when a fund is removed from the product universe, Skandia leverages financial analytics to provide clear, actionable replacement suggestions.

Prioritising Consistency Across Channels

Here we also note that increasing the volume of follow-up communication highlights the importance of consistency across channels. Whether clients interact with their wealth manager via digital or physical channels, the information they receive, and the provided information, should be consistent and aligned to avoid confusion, which can undermine the trust wealth managers work so hard to build. KidbrookeONE achieves omnichannel consistency, ensuring that portfolio simulations, recommendations, notifications and advisor meetings provide the same quality of actionable information across the business. This reinforces the wealth manager’s credibility, allowing clients to feel confident in their financial strategies no matter where or how they engage.

Driving Long-Term Value through Proactive Notifications

Building an effective communication system post-purchase is no longer an optional strategy—it’s a critical component of a modern omnichannel wealth business. By offering clients personalised notifications, risk management alerts, portfolio recommendations, and updates on fund performance, Skandia builds stronger, more meaningful relationships with their clients. In the end, proactive engagement is about more than client retention—it’s about providing ongoing value that builds trust, enhances the client experience, and drives long-term success for both the client and the wealth manager.

Fredrik Daveus, CEO, Kidbrooke