How Wealth-as-a-Service Helps Advisors Compete with Independent Robo-Advisors?

Independent robo-advisors have become a permanent feature of the wealth management landscape. Over the past decade, digital-first platforms have helped shape new expectations around accessibility and digital interaction. While these platforms are not the only drivers of change, they have contributed to a broader shift in how investors experience financial services.

For traditional advisory channels within financial institutions, this evolution has introduced sustained competitive pressure. Advisors are increasingly expected to deliver seamless digital experiences alongside personalised, relationship-based support. 

Meeting these expectations using legacy systems alone can be challenging, particularly when institutions must balance innovation with internal governance, risk management, and compliance obligations.

As a result, many institutions are exploring digital augmentation through modular technology solutions. Wealth-as-a-Service (WaaS) has emerged as one such approach, enabling firms to modernise advisory journeys while maintaining control, oversight, and regulatory discipline.

How Did Independent Robo-Advisors Come Into the Landscape and Scale Up?

Across Europe and beyond, automated investment journeys have gained traction as more consumers become comfortable with digital self-service. These platforms are typically characterised by:

• Simple, guided onboarding experiences.

• Always-on digital access across devices.

• Clear visualisation of goals and progress.

• Standardised and repeatable user journeys.

Even clients who prefer working with a human advisor increasingly expect similar digital touchpoints before, during, and after advisory interactions.

What are the challenges faced by advisors within institutions?

Advisors operating within established financial institutions often face a different reality. Many work with complex legacy environments that were not designed for client-facing digital journeys. Common challenges include:

• Fragmented systems across onboarding, profiling, and follow-up.

• Manual processes that limit scalability.

• Inconsistent client experiences across channels.

• Difficulty deploying new tools at the pace while meeting internal approval requirements.

At the same time, institutions must ensure that all client-facing communications are accurate, non-misleading, and suitable for their intended audience. This creates a clear need for technology that supports advisors without introducing regulatory or reputational risk.

What does Wealth-as-a-Service mean for financial institutions?

Wealth-as-a-Service is a technology delivery model that allows financial institutions to embed digital wealth capabilities into their existing advisory framework. 

Rather than building everything in-house, institutions can leverage configurable digital components that integrate with internal systems and processes.

It is important to clarify that WaaS relates to technology and infrastructure, not the provision of regulated investment advice to consumers. The advisory relationship, suitability assessment, and final recommendations remain the responsibility of the regulated financial institution and its authorised advisors.

From an operational perspective, WaaS solutions are typically designed to support internal compliance processes. This includes the ability for institutions to subject all digital journeys, content, and workflows to local Compliance review before any external use or client deployment.

How does WaaS support advisors in improving their value proposition?

1. Strengthening the human-advisor model with scalable digital tools

Rather than replacing advisors, WaaS solutions are designed to reinforce the human element of advice. By automating selected administrative and preparatory steps, advisors can focus more of their time on meaningful client interaction.

Key areas of support often include:

• Digital preparation of client meetings.

• Structured data capture to reduce manual input.

• Standardised workflows that improve consistency.

2. Improving personalisation and client experience

Digital tooling can also enhance how advisors personalise their interactions. Pre- and post-meeting workflows allow information to be shared in a structured and accessible way, helping clients better understand the advisory process.

Common examples include:

• Educational modules explaining investment concepts in neutral, non-product-specific terms.

• Goal-based interfaces that frame discussions around client objectives.

• Behavioural nudges designed to encourage engagement and understanding.

3. Enabling hybrid advisory models

Hybrid models that combine human expertise with digital journeys are becoming increasingly relevant. WaaS can support these approaches by allowing institutions to:

• Offer flexible entry points for different client segments.

• Maintain continuity across digital and human-led interactions.

• Extend advisory reach without compromising governance.

What are the operational and strategic benefits for institutions?

1. Faster deployment of compliant advisory experiences

One of the key advantages of WaaS lies in its modular nature. Configurable components can be reviewed, adapted, and approved internally before being exposed to clients. This enables institutions to:

• Align digital journeys with internal policies

• Reflect local regulatory and supervisory expectations

• Update content or workflows without large-scale redevelopment

When combined with existing asset management software, WaaS can act as a layer that enhances usability and client interaction without disrupting core systems.

2. Improved process efficiency and internal risk mitigation

Digital structuring of advisory workflows can improve efficiency while supporting internal controls. Benefits may include:

• More consistent documentation of client interactions.

• Clearer audit trails across advisory stages.

• Reduced reliance on manual processes.

3. Supporting long-term digital transformation

WaaS should not be viewed as a standalone initiative. For many institutions, it forms part of a broader modernisation roadmap that includes core banking systems, CRM platforms, and asset management software already in place.

Institutions can remain aligned with evolving expectations while preserving operational stability by incrementally improving client-facing capabilities. 

What needs to be considered when implementing WaaS?

Implementing WaaS requires careful planning and governance. Key considerations include:

• Internal Compliance review: All digital journeys, content, and tools must be reviewed and approved before external use.

• Clarity of communication: Content should never be misleading, incomplete, or interpreted as promoting specific investment products.

• Defined responsibilities: There must be a clear distinction between the role of the financial institution and that of the technology provider.

Use cases: How advisors can leverage WaaS in practice

At a high level, WaaS can support advisors across several practical scenarios, without referencing specific investment products:

• Onboarding and profiling journeys designed to be auditable and aligned with internal frameworks.

• Digital follow-up tools that help advisors maintain consistent engagement after meetings.

• Scenario-based educational modules that explain concepts such as diversification or risk in a neutral, informative manner.

When integrated with existing asset management software, these tools can enhance continuity between front-end client experiences and back-office processes.

Closing Thoughts

Independent robo-advisors have influenced how investors perceive digital engagement, but they have not diminished the importance of human advice. For financial institutions, the challenge lies in combining trusted advisory relationships with the efficiency and accessibility of modern digital journeys.

Wealth-as-a-Service offers a pragmatic way to address this challenge. By enabling institutions to embed configurable digital capabilities into their advisory model, WaaS can help advisors compete more effectively while maintaining governance, oversight, and responsibility.

All such solutions must, however, be deployed with care. Rigorous internal Compliance review, clear communication, and well-defined roles are essential to ensure that digital innovation supports advisory services responsibly. 

When implemented as part of a broader technology ecosystem, WaaS can become a valuable enabler of sustainable, institution-led digital transformation.