Summary of Transforming the Client Experience

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Transforming the Client Experience summary


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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.

In this summary, you will learn

  • What growth the global private wealth industry can expect over the near term,
  • Why wealth management firms are seeing slimmer profits, and
  • What these organizations can do to remain competitive and position themselves for the future.

About the Authors

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



According to the 125 managers interviewed for the 2017 edition of the Boston Consulting Group’s annual study of the wealth management industry, private wealth rose worldwide in 2016. Growth came in at a high of 9.5% in the Asia-Pacific region and a low of 1.1% in Japan. In North America, private wealth will likely increase at a compound annual growth rate of 6% until 2021, roughly equal to the global rate. Western Europe, where Brexit clouds the picture, will see more modest yearly upswings of 4%. The only double-digit growth globally, 10%, will occur in the Asia-Pacific region, while Latin America will experience increases of 7% per year. 

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