Lovers of classical music will agree that Symphony Number 9 in D Minor is the last complete symphony composed by Ludwig Van Beethoven and one of his masterpieces. The woodwinds, brass, strings and percussion blend in a fluid composition to create that perfect symphony.

In the same vein, tune in to the wealth management symphony and listen up. It does not take long to figure out that the notes do not sound quite right - there seems to be a discordant note that’s hard to miss. Market dynamics, ever-evolving client requirements, changing revenue models and a complex IT landscape have ensured that this dissonance continues to jar.

Wealth management providers are struggling to piece together a fluid and flexible business model that combines service offerings and products with customer-centricity and IT platforms. The ‘flexible business model’ is today acknowledged as key to the smooth flow of melody. A truly flexible backbone in terms of the IT infrastructure is critical to help achieve this. As a wealth manager would put it ‘while we need not recreate Symphony Number 9, a symphony it must be nevertheless, and flexible too.’