Analysis of the transition to new technologies in wealth management in Iran

Wealthtech or financialtechnology of wealth management helps investors to make better decisions about when and how to invest; and seeks to shift savings and investments to the capital market and balanced the money and capital markets. This study examines the transition of wealthtech in Iran. Transition refers to the process of creating and replacing a new technology and its acceptance by the community. For the analysis of the transition, the multi-level perspective analytical framework was used and the interactions of actors and institutions with technology at different levels are analyzed. The transition to wealthtech has been studied through a qualitative and narrative research method, and data have been collected through the study of regulations and policy documents, as well as press interviews and press reports published in fintech media. 252 reports were reviewed, of which 118 reports were related to the discussion and the opinions of 36 experts were analyzed. With the studies, the functions of the financial system of wealth management were identified. By analyzing the behavior of actors who performing the functions against technological developments and institutional changes, the typology of the transition was determined as reconfiguration path. The reconfiguration path follows the innovation overflow pattern and caused changing the architecture of the regime. In the end, the public release of information and informing to citizens should also be followed Simultaneously with the provision of conditions for providing innovative services. Through the simultaneous reinforcement of the supply side and the demand side, the optimal transition will be possible.