The “One-Window” Financial Model: Is It The Future Of Wealth Management?

Capgemini data shows that 81% of inheritors “plan to switch firms within one to two years of inheritance.” PwC research supports this trend; in 2022, the consultancy firm reported that 46% of high-net-worth investors in the United States alone were rethinking their relationships with wealth managers.

The reason is simple. In today’s globalized world, entrepreneurs often operate across several jurisdictions. They have offices in Switzerland or Singapore or even a headquarters in the UAE that continues to grow impressively as a hub for global wealth. This international reach gives high-nets a degree of safety in volatile markets. For the same reasons, they are diversifying their portfolios, exploring new currencies and asset types. In the U.S., 2 in 5 people now view cryptocurrency as a good investment, and 65% of crypto investors plan to increase their holdings.

This evolution calls for wealth management firms capable of handling cross-border transactions and coordinating across multiple markets and assets. And yet, many fail to provide these services.

The One-Window Financial Model

We see the demand for new approaches from our own clients. People tend to come to us to open a bank account, and a month later, they decide to try another product from our group—say, crypto custody or investment management.

Each service belongs to a different company inside the ecosystem, so every new team asks for the same documents all over again: passport, proof of address, source of funds. The customer waits for another round of checks, even though they already use one of our products. This whole process drags on for days or even weeks. Clients feel like they repeat steps for no reason, waste time and sometimes even drop the idea of getting an additional service.

Another issue is that we have multiple apps for different products within our ecosystem; one covers banking services, another displays investment portfolios and a third holds crypto assets, etc. So clients have to jump from one to another to monitor their assets. Communication is also scattered across email, WhatsApp, phone calls and a bunch of portals. With this system (or rather lack of it), clients lose track of who asked for what, which channel they should use and where they should upload documents.

To solve these issues, we’re building a single app that ties everything together. The idea is that a client goes through identification once, and the system uses their profile across the entire group. The platform shows everything at a glance: bank accounts, investments, crypto wallets, transactions, limits, etc. So when clients want a new service, they tap on it inside the same app, and the system pulls their existing profile and already signed paperwork. If regulators ask for more details, the client enters just a few extra fields. Within this one-window system, activating a new service takes not weeks, but hours (or sometimes even minutes).

The Role Of AI

This year, wealth management platform FNZ and Microsoft entered a global five-year strategic partnership to accelerate digital transformation across the wealth management industry through AI. We are likely to see more such collaborations because AI can create smoother experiences for clients and greatly support the creation of a one-window model. It can unify data and APIs, power a single financial assistant, personalize dashboards, automate support, detect fraud and simplify navigation. Some banks are developing AI-powered chatbots and virtual assistants that can answer client questions, provide portfolio updates or complete simple transactions.

AI can also take over routine managerial tasks like compliance checks and document reviews, freeing up time and reducing the risk of human error. Some wealth management firms are already seeing results. According to BCG’s 2024 report, several firms have cut the time needed for client file reviews by more than half. Many are now working with specialized regulatory technology partners, such as the collaboration between FNZ and Microsoft, to build secure and efficient AI solutions.

That said, firms must be aware that AI systems are only as reliable as the data they are trained on. This is especially important in regulated services. A company must constantly monitor laws, and in several countries, if it operates cross-border, it must ensure the AI has up-to-date information and doesn’t apply the wrong tax rules when assessing an investment for a client. Additionally, overreliance on automation can introduce operational vulnerabilities: If systems fail due to cyberattacks, which are becoming increasingly common, firms may be unable to deliver services.

How To Get Started

For firms considering a shift toward a one-window financial model, the first step is understanding your current setup. Map every service, such as investment, asset management advisory and others, and look at how each one operates today. Many firms run separate platforms for each service, but clients often prefer to see everything in one place. Making that happen, however, requires building a very clear, intuitive interface with straightforward navigation.

It’s important to take your time when moving to a new model. A smart approach is to start small: Connect two or three systems, test the new workflows, gather feedback and then expand. This phased approach reduces disruption and helps teams adapt and build new skills. And that part is crucial. A one-window model requires closer collaboration between departments, and teams need proper training to support it. Be sure to also set clear responsibilities for data quality, oversight and ongoing system maintenance.

Another step is gathering and reorganizing all service-related information. Today, many firms have their data scattered across Excel files, Google Docs, Notion, Asana and many other tools. Consolidating everything removes duplicate or conflicting information and gives managers a single, reliable source of truth. Clean, centralized data also allows teams to use AI tools effectively. This way, AI can provide more precise, relevant recommendations and offer more accurate forecasts of, for example, how a market or asset may perform in one, five or even 10 years.

The Future Of Wealth Management

A shift to one-window models, even with the support of AI, will not happen overnight. It requires significant investment and a cultural shift toward greater openness and integration. Yet this transition is both inevitable and necessary.

Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms.