TEODORO D. COCCA | Professor, Chair for Wealth and Asset Management, University of Linz, and Adjunct Professor, Swiss Finance Institute

This article uses empirically collected data in Switzerland, Germany, and Austria to illustrate how the share of digital clients in wealth management has evolved since 2012. Using this data, we try to determine the relationship between client characteristics and the preference for bank-centric or open ecosystems. We find that a clear majority of clients seem to lean toward an open digital wealth management ecosystem as opposed to a bank-centric one.