Wealth Management Dashboard - the (r)evolution

Updated: Dec 30, 2021

In my past experiences, I have been asked many times to build dashboards in the Wealth Management space. This is fun. And can be very challenging. In fact it seems that the more challenging it was, the more fun I had. Sadly, the results were too static for my taste and the vast majority of dashboarding tools were way above budget and just too complex to maintain. One-page dashboards very well hide the amount of work needed to simplify a huge dataset into comprehensive figures. As the goal is to truly add value by providing the desired – and if possible accurate – key indicators to the management, such project is by nature transversal and requires everyone’s involvement.



So what is the secret sauce for a successful Wealth Management dashboard? It requires the confluence of various roles and talents, including:


1. A proficient Data Scientist (the modern name for a business analyst, so if you have one in-house that’s fine 😊)


2. Availability of the data electronically


3. A management team with clear vision of what they want to see


4. The right technical solution to support the process


5. One or more UI specialists to make the data more comprehensible.



In other words, a 12 month project with 8-12 consultants and a budget reaching an amount that led most projects to die before they could even start. That was in 2000…


Luckily, we live now in 2019 and the outlook is far more satisfactory. Point 2 remains the same, without data, no dashboard. So if you are dealing with some obscure banks that only share paper documents once a year then this article is probably of no interest. But today every single Western bank has either an electronic interface or at least a portal that allows data extraction in excel or csv. The managers who are still in business know their KPIs, they probably wear glasses after reading A3 pages of tiny excel cells for the past decade,but they clearly know what they want to see.



The conjunction of great BI tools and new speeds to process high volume of information means that today we finally can obtain a nice result. But at what cost? A Geneva based company now offers a revolutionary concept. As 80% of the expected views are similar among various Wealth Management firms, why spend a fortune to obtain that part? Obviously in the remaining 20% this means some consulting investment, but you only pay for what is custom, not for what is plain vanilla. So how much does it cost? Less than a coffee per day… check it out : https://linpack-for-tableau.com/tableau-dashboard/wealth-management-dashboard/



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