The latest tech news in wealth management across North America.

US-based Carte Wealth Management has gone live with the digital communications platform – which embraces video - provided by tech firm BlueRush, an example of how this communications channel is said to be changing financial services.

Carte has a network of more than 50 financial advisors.

BlueRush said this launch adds to a number enterprise-level SaaS [software-as-a-service] deals and argues that it is tapping into increasing use of video channels by wealth management houses. It cited analyst forecasts stating that more than 80 per cent of content will be consumed via video by 2021. The firm said it develops and markets an interactive and personalized video platform called IndiVideo. 

The business gave the case of a “major Canadian bank” – which it didn’t name – that logged a 43 per cent jump in online conversions in the mortgage area using IndiVideo. 

A number of organizations such as Boston Consulting Group and MyPrivateBanking Research, among others, have examined use of digital tools in the wealth space. A BCG report in 2015 cautioned that despite all the vaunted benefits, digital adoption in the wealth industry was happening more slowly than in most other business sectors. A report by the same firm in 2014, based on a survey of approximately 140 wealth managers around the world, found that about 75 per cent of wealth management clients indicated that they would like more interactive multichannel offerings.

The publisher of this news service produced a recent video of its own to explore use of digital channels as part of how technology affects wealth management.