Better-informed clients raise the bar for wealth advice – HSBC, Citi executives

Wealth managers face a more informed and less predictable client base, as banks invest in data and AI to strengthen advisory capabilities while preserving trust.

At the Digital CX Summit 2026 in Singapore, a panel of senior executives from Citi and HSBC set out how expectations in wealth management are changing. Moderated by Raheel Baig, Director at Bank of Montreal, the discussion featured Gourab Kundu, Head of Digital for Citi Wealth in Asia South, and Simon Puckering, Head of Digital Innovation for International Wealth and Premier Banking at HSBC.

The conversation pointed to a more demanding client base — one that expects timely, relevant insights and consistent engagement across channels. The emphasis is no longer on access or speed alone, but on the quality of advice and the ability to respond with precision.

Foundations endure as expectations rise

Despite the growing role of technology, the core elements of client experience remain largely unchanged. “Great customer experience hasn’t changed,” said Puckering. “The pillars… trust, simplicity and consistency… have been foundational.”

These principles continue to underpin wealth management relationships, particularly where clients are making high-value financial decisions. Trust extends beyond safeguarding assets to include the handling of data and the reliability of advice.

At the same time, delivery has become more complex. Clients move between digital platforms and face-to-face interactions with ease, expecting continuity across each touchpoint.

“We’re no longer living in a single channel,” Puckering said. “Customers move between digital and physical channels… so consistency across those is absolutely crucial.”

This expectation has raised the standard for integration. Advisors are increasingly expected to understand not only a client’s portfolio, but also their recent digital activity, including research and transactions conducted independently.

Data and AI move into the advisory core

While artificial intelligence featured prominently, both speakers pointed to data as the underlying constraint. “Everything that is powering… those use cases is correct data,” said Kundu, noting the need to “clean and catalogue your information properly.”

Many institutions continue to face challenges in this area. Fragmented systems and inconsistent data structures limit the ability to deliver meaningful personalisation or real-time insights.

Where data is structured effectively, however, banks are beginning to respond more quickly to market developments. “Markets move quickly… that information is currency,” Puckering said, referring to the need to deliver insights aligned to individual portfolios.

Artificial intelligence is now being integrated more directly into advisory workflows. “From a wealth perspective… that human interaction and human empathy… is absolutely crucial,” Puckering said. “AI is providing… relevant, timely insights to give the best recommendations.”

Banks are using these tools to prepare advisors ahead of client engagements, improving the quality and timeliness of discussions. At the same time, AI is expanding into client servicing. “Most people want to self-serve,” Puckering added.

However, both speakers cautioned against overuse. “There’s a risk that the technology becomes the journey,” Puckering said. “Focus on the customer outcome… work backwards from the customer outcome.”

More informed clients, less predictable loyalty

One of the clearest changes identified by the panel is the growing level of client knowledge. “Clients are coming in very well informed already,” Kundu said. “They’re asking more technical questions… that wasn’t happening two or three years ago.”

Access to investment insights, once largely confined to institutional research, is now widely available. This has reduced the informational advantage held by banks and increased expectations of advisors.

The result is a more demanding advisory environment. Clients expect not only information, but interpretation and relevance. At the same time, loyalty is becoming less predictable. Generational wealth transfer is introducing a cohort of younger clients with different expectations and weaker ties to existing providers.

“You no longer [stay] with one bank because your parents banked there,” Kundu said.

Digital platforms and regulatory developments are making it easier for clients to compare services and move assets, placing greater emphasis on experience as a differentiator.

Trust and execution will define outcomes

Despite these changes, trust remains the central organising principle of wealth management.

“It comes back to the trust foundation,” Kundu said. “They have to trust that their money and their information is safe and secure.”

This extends to data usage, fraud prevention and the application of AI. As digital engagement increases, scrutiny over how client information is handled is also intensifying. Banks are responding with enhanced controls and governance frameworks, though the balance between security and usability remains a challenge.

The discussion reflected an industry still in transition. While progress in data integration and AI deployment is evident, wealth management continues to lag behind other sectors in delivering fully integrated digital experiences.

“There’s a way to go before we catch up with other industries,” Puckering said. Clients, however, benchmark banks against experiences beyond financial services, where journeys are more seamless and responsive.

For wealth managers, the challenge is execution. Institutions that can combine reliable data, effective tools and well-prepared advisors are more likely to meet rising expectations.