From Katy Tuncer, Head of Innovation at Horizon37
The winds are shifting. Private wealth professionals must choose how to compete as the convergence of AI and technology with traditional business models is changing how organisations operate. Are you positioned to win pipeline in 2025?
Revamp your value proposition deliberately, and stay ahead.
Three steps to protect your margins and position for growth
1. Read Tomorrow's Market
Where will future growth come from in your industry?
Consider what your clients will need and value, and how they will procure support from a combination of tech and human offerings.
Your clients' needs are evolving rapidly. Understanding and anticipating these changes is crucial. Ask them directly, research and analyse. Gather the insight you need to make important leadership decisions:
What services will your customers truly value in this new landscape?
How will buying behaviours and expectations shift?
Where will they need distinctive human expertise?
Where are they looking for automated or tech-enabled solutions?
Which emerging market needs represent new opportunities?
Get your finger on the pulse! The answers will shape not just what you offer, but how you develop the leadership capabilities to deliver it.
2. Ruthlessly evaluate your product and service portfolio
The harsh reality? Some traditional offerings will become commoditised. Others will command premium prices.
Which of your services and products consistently deliver the highest margins?
Where are margins under pressure, in particular from technological alternatives and competitors’ innovations?
Difficult to predict? Yes. But don’t sleep-walk. Take a view on where you predict margins will sustain or increase, and act decisively.
Your success depends on making smart choices now:
How will you blend technology and human expertise?
How can you package high-value services for premium pricing?
Which offerings should you phase out before they become unprofitable?
You have options. You might choose to eek out the last value from human-delivered services, where demand is likely to endure for a short number of years yet. You might choose to be an early-mover on tech-human hybrid services. You might narrow your focus on a small, valuable niche in the market.
Whatever you choose, choose on purpose. Define your future mix of products and services now.
3. Play to your strengths, target your capability build
In a market being reshaped by technology, your distinctive capabilities matter more than ever. Challenge yourself to identify:
What are the unique strengths of your business?
How can you leverage these strengths to create and deliver offerings that neither pure-tech solutions nor traditional providers can match?
What is the handful of limiting weaknesses or gaps that you must fill, to deliver your new value proposition for 2025 and beyond?
Prepare your people and operations to deliver what’s needed.
Will you hire in or develop leaders with the skills needed to maintain competitive advantage?
Which activities will you stop doing and when, to avoid destroying margins as your business focus evolves?
Where can you automate to reduce delivery costs?
How can you scale your impact while maintaining quality?
The winds are shifting. Are you ready to capture the opportunities ahead?
The Path Forward - we can help
As specialists in solving crucial leadership challenges, at Horizon37 we know that success comes from cutting through complexity to focus on what matters most. Your value proposition must evolve to meet emerging needs, in order to maintain profitability and competitive advantage.
Private Client Professionals as leaders must:
Drive business results at pace
Create alignment across the business
Make smart strategic choices about technology adoption
Build trust and leverage diverse thinking
Execute with precision and adaptability
Don't wait for market forces to decide your position. Define it proactively through deliberate strategic choices and investment in leadership capability. The future belongs to organisations that can combine technological innovation with exceptional leadership to create distinctive, sustainable value.
Taking Action with the PCD community 12pm, 27th February
We’re planning a webinar to support you with your value proposition revamp.
The businesses that will thrive are those that move decisively to:
1. Map current offerings against future market needs
2. Identify services that need to evolve, grow, or retire
3. Plan a technology integration strategy
4. Develop clear value propositions for emerging opportunities
5. Build the leadership capabilities needed to deliver on these opportunities
