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.