What are the Key Challenges Facing Wealth Management? Dan Burke Talks to Barron’s About Solving the Data Gap.

What are the biggest challenges facing the wealth management industry and why are they so important?

Our Investment Partner Dan Burke was asked this by Barron’s and discussed the industry’s issues managing the complexity and volume of all clients’ personal data.

“An ultrahigh-net-worth family or family office often has data everywhere—siloed at multiple providers and custodians, old tax returns, etc. As advisors, we have to help them manage this data in order to provide good advice and execute across their full balance sheet,” Dan told Barron’s. “We’re investing more and more in data processes, data quality, and technology to help families make decisions across a clean, comprehensive set of data.”