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Reinventing Wealth Management with Technology-Enabled Video Services

The wealth management industry continues to face many challenges as it recovers from the financial crises of the past few years. And while financial markets have recovered most of their losses since 2008, investor confidence has not yet returned and volatility remains high.

Against this backdrop, investors now have access to a wide variety of investment information online, including analyst research, detailed company and sector financial reports, and data visualization tools previously available only to financial advisers. The combination of poor market performance, availability of information, and low-cost business models that put the investor in control are calling into question the fundamental value proposition of wealth management firms and their financial advisers.

To better understand the mind-set of wealthy investors, we conducted our first wealth management survey in January 2011. An important finding was uncovering a relatively young wealthy investor group we called “Wealthy Under-50s.”

As we shared the findings with our customers, new questions arose including:

  •  Is there a desire for technology-enabled interactions among younger wealthy investors?
  • Given that many clients value face-to-face meetings with their advisers, how often would they use a high-quality video option?
  • Is there a “right way” to deploy technology-enabled services and capabilities?
  • Would video services convince wealthy investors with no adviser to hire one?
  • What are the main barriers to the adoption of technology-enabled services?

To answer these questions and provide additional insights about wealthy investors, we conducted our second survey 18 months later, in April 2012.  The findings show rapidly shifting attitudes about wealth management and technology-enabled services. Specifically, we found:

  • After only 18 months, the behaviors and attitudes of the Under-50s in the first survey now extend up to age 55 (“Wealthy Under-55s”).
  • Although Wealthy Under-55s meet more often with their financial advisers, they are less satisfied with those interactions than older investors.
  • Wealthy Under-55s want more personalized investment recommendations, access to more diverse opinions and expertise, and more frequent access to their financial advisers than they currently receive.
  • Wealthy Under-55s believe that technology-enabled services that feature video-enabled access to financial advisers would provide them with better advice and more satisfying interactions than they receive right now.
  • Wealthy Under-55s are much more willing to change advisers.  Twenty-percent of them indicated they were likely to change their primary adviser in the next year, compared to only 4 percent of investors over the age of 55.

And perhaps most important for financial services firms looking to capture a share of this market, Wealthy Under-55s are willing to move at least some of their assets to firms that provide these services (57 percent in the United States, 54 percent in Germany, and 51 percent in the United Kingdom). Read More »

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Internet of Everything in Action: Today and Tomorrow #IoE

When the history of the Internet of Everything (IoE) is written, its success or failure will be determined by answering one question. How did IoE benefit humanity? In the end, nothing else matters.

With this in mind, let’s look at two examples of how IoE will benefit people, both today and tomorrow.

Today—Transforming the World’s Cities
To revitalize the world’s largest cities, City24/7 — a company committed to making public communications more accessible to everyone, everywhere — in collaboration with Cisco IBSG and the City of New York has launched an interactive platform that integrates information from open government programs, local businesses, and citizens to provide meaningful and powerful knowledge anytime, anywhere, on any device. In short, City24/7 delivers the information people need to know, where and when it helps them most.

Located at bus stops, train stations, major entryways, shopping malls, and sports facilities, City24/7 Smart Screens incorporate touch, voice, and audio technology to deliver a wide array of hyper-local (about two square city blocks) information, services, and offerings in real time. The Smart Screens can also be accessed via Wi-Fi on nearby smartphones, tablets, and laptop computers.

The overarching goals of the City24/7 Smart Screens are to: Read More »

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The Changing Landscape of Healthcare in the Digital Age

Dr. William A. Kennedy knows how having a sick child can burden a family. In the 1970s, his brother suffered from metastatic Ewing’s sarcoma. Getting him the care he needed at a hospital 25 miles away was a full-time job for their mother and required help from other relatives and friends.

Today, Dr. Kennedy, a board-certified pediatric urologist at Lucile Packard Children’s Hospital at Stanford, is using Cisco technology to provide specialty “care-at-a-distance.” The result: children and families don’t need to leave their communities and miss significant time from school and work to receive world-class specialty care.

Dr. Kennedy with a patient. Photo courtesy Lucile Packard Children’s Hospital.

In a blog post today on the Huffington Post, Dr. Kennedy writes that he has been able to reduce wait times for patients by running weekly “telehealth” clinics between Packard Children’s in Palo Alto and Pediatric Group of Monterey, nearly 100 miles to the south. Cisco technology “yields a high-quality clinical interaction that rivals the traditional in-person doctor visit,” Dr. Kennedy writes.

Please read Dr. Kennedy’s full post on the Huffington Post.

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Engineers Unplugged (Episode 11): Hitachi UCP on UCS

On this week’s Engineers Unplugged, HDS’s Andrew Nielsen (@virtualkjell) and Cisco’s J Metz (@drjmetz) discuss a recent announcement and validated design, Hitachi UCP on Cisco UCS. Here are the basics:

 

Andrew Nielsen from HDS and J Metz from Cisco discuss recent announcements.

Andrew Nielsen from HDS and J Metz from Cisco discuss recent announcements.

Welcome to Engineers Unplugged, where technologists talk to each other the way they know best, with a whiteboard. The rules are simple:

  1. Episodes will publish weekly (or as close to it as we can manage)
  2. Subscribe to the podcast here: engineersunplugged.com
  3. Follow the #engineersunplugged conversation on Twitter
  4. Submit ideas for episodes or volunteer to appear by Tweeting to @CommsNinja
  5. Practice drawing unicorns

Questions for Andrew or J? Follow the conversation on Twitter! Follow us @CiscoDC. Ideas for an upcoming show? Let me know!

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Cisco at Garner DC Las Vegas : A pragmatic view and approach of the evolution of the data center in the era of clouds and network programmability.

As expected a lot of talks, sessions and interest this year about the reality of the  cloud deployment and hybrid cloud  at Gartner DC Las Vegas.

Cisco is now perceived as a very credible player in cloud – In fact a quick electronic poll  from the audience during one of  the key notes speechs ranked Cisco as the number 2 amongst the vendors.

As a proof point of Cisco influence in the cloud computing evolution, both David Yen , Cisco SVP & GM Data Center Group, and John Manville Cisco SVP , Global Infrastructure for IT, presented Cisco vision and achievement in terms of infrastructure and foundation for cloud  : Network programmability , and convergence infrastructure are at the core of the efforts driven by these Cisco executives and solution teams to deliver robust infrastructures for both our customers and Cisco IT organization.

If you are interested to know more about these sessions, stay tuned. I will post in the following days on this same blog the  slide decks from David and John ,as well as two short and very  interesting videos that I did these days:
-One one hand a short dialog between Giuliano Di Vitantonio, Cisco VP Marketing Data Center and Cloud,  and David Yen.


-On the other hand a summary of the presentation by John Manville (see introduction blog from Omar Sultan Living with the Programmable Cloud)

Along the same lines , I also invited a panel of bloggers and tweeps , who attend Gartner DC  to share with us their reaction to these presentations and  their view on the current challenges faced by the IT organizations.

In this video you will hear from Presidio Steve Kaplan (@ROIdude), VCE Jeramiah Doodley (@jdooley_clt)  , Cisco Jason Schroedl (@Jschroedl)  and Todd Brannon (@tobranno) .

Read More »

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