Why real understanding beats automation in wealth management
In a world increasingly driven by automation and efficiency, one essential question arises: Who actually sees the Mensch?
Clients are evaluated based on data points – income, origin, transactions, and risk profiles. Before any meaningful interaction occurs, they are placed into predefined compliance categories. The Mensch – the human being with values, context and intent – remains unseen.
The same pattern is visible in HR.
Automated filters reject applications lacking the right keywords, regardless of potential or individuality. Nobody looks at the person – because the system doesn’t require it.
Portfolio management often follows the same logic.
Clients are guided into one of a few model portfolios – conservative, balanced, dynamic – and that’s where it ends. Whether their actual goals are supported becomes secondary. What matters is structure, scale, and ultimately: fees.
Scalability is carried on the shoulders of the client.
Even many independent wealth managers …
Even many independent wealth managers, who take time to understand a client’s situation, fall into this trap. Not intentionally – but structurally. The key question, “What is your goal?”, is often not honestly asked. The form, the workflow, and the compliance process are built differently.
Portfolios are assigned, not shaped. Strategies are aligned to systems, not to people. Technology simulates personalisation – without delivering meaning.
Proper wealth management starts not with numbers, but with curiosity.
With listening, with the will to understand, with the Mensch.
Technology supports. But it cannot replace the human connection. Because only by seeing the Mensch can we guide wealth with purpose.
Source: LinkedIn
