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Transforming the Client Experience
Report

Transforming the Client Experience

Global Wealth 2017

Brent Beardsley, Bruce Holley, Mariam Jaafar, Daniel Kessler, Federico Muxi, Matthias Naumann, Jürgen Rogg, Tjun Tang, André Xavier and Anna Zakrzewski
Boston Consulting Group, 2017
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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • For Experts

Recommendation

Propelled by the tailwinds of strong economic growth and buoyant equity markets, global private wealth grew by 5.3% in 2016. But the profits of wealth management firms continued to decline, as companies streamlined processes and crunched fees in response to increased competition and pressures for transparency. In the long run, managers will need new business models that integrate the digital world. This authoritative report from professionals at the Boston Consulting Group examines trends in the size, operations and technology of the wealth management industry. getAbstract recommends it to executives at banks, fintechs and other capital management firms.

Take-Aways

  • According to this annual study of the wealth management industry, private wealth rose worldwide in 2016.
  • However, wealth managers are not reaping increasing rewards. Even though expense cuts have helped repair revenue wounds, pretax profit margins have taken a hit.
  • To move beyond cost cutting, asset managers must invest in digital technologies that improve the client experience, as well as adopt other transformative practices through new business models.  

About the Authors

Brent Beardsley et al. are professionals with the Boston Consulting Group.

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