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2018: Trends to Watch in Global Wealth Management

2018: Trends to Watch in Global Wealth Management

  • January 2018
  • 69 pages
  • ID: 4595298
In this report:
As per our 2017 Global Wealth Managers Survey, ##.##% of respondents expect alternative investment demand to increase over the next ## months, and the main reason for this is to gauge capital appreciation opportunities.
Wealth managers based in the US would therefore have a significant competitive advantage in terms of lighter compliance burdens and a unique ability to maintain confidentiality for their offshore clients.

Summary

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2018: Trends to Watch in Global Wealth Management

Brief

Regulation, innovation, and intergenerational change will be top items on wealth managers' agenda in 2017. Compliance with the now in-force Common Reporting Standard and Markets in Financial Instruments Directive II will be as important as responding to shifting client demographics and changes to the investment landscape, fueled by cryptocurrencies growth and central banks revising monetary policies. In this environment, striking the right balance between retaining existing clients and hunting for additional ones will bekey.

Key findings include in this business report -

- Central banks potentially growing interest rates in 2018 will affect the asset allocation landscape.

- 64.0 percent of wealth managers agree that intergenerational wealth transfers will be a big source of additional business in the upcoming years.

- New investment products including impact investments and cryptocurrencies will become mainstream. Meanwhile HNW lending is also an opportunity to diversify providers' sources of revenue.

- Use of automation and technology in general will increase as providers look to reduce costs.

- Robo-advisors will continue to grow, but their share of the global market will not change drastically.

Educating clients about risks and preparing them for market shocks remain fundamental to client retention, regardless of how affluent or sophisticated they are.Preparing for millennials and younger generations coming into wealth is vitally to ensure sustainable business growth. This requires managers to reach out to and build relationships with the youth in an appropriate way and at the appropriate time, additionally to providing innovative products.

The analysis "2018: Forecasts to Watch in Global Wealth Management", informs wealth managers and their strategy teams of the main developments emerging across the industry - and how best to respond to these changes. The market research examines in detail top areas including regulation, customer targeting, and product and service provision, with analysis supported by findings from GlobalData's propriety surveys of wealth managers and investors.

Specifically the report -

- Considers the impact of distinct regulation (containing the Common Reporting Standard, General Data Protection Regulation, and MiFID II) on the industry.

- Examines shifts in investors' asset allocation preferences and their impact on wealth managers' strategies.

- Reveals millennials' product and service requirements and considers successful client acquisition and retention activities.

- Discovers main trends in product innovation, exploring areas including HNW lending, cryptocurrencies, ETFs, impact investing, and innovative fintech products.

- Examines the recent developments in the robo-advice market and future M&A activity in the sector.

Firms mentioned in this industry report: Acorns, Active Allocator, Aviva, Barclays, BearingPoint, Betterment, Blackrock, BNP Paribas, BrickX, Carmignac, Charles Schwab, Citigroup, Cordium, Credit Agricole, Credit Suisse, Deka, Deutsche Bank, Fidelity International, Gambit, Goldman Sachs, Gowling WLG, Hargreaves Lansdown, HNW Lending, ICICI Bank of India, IHS Markit, Lloyds Bank, Maecenas, Moneybox, Morgan Stanley, Nutmeg, Revolut, Scalable Capital, St. James's Place Wealth Management, State Street, Stockspot, Tobam, UBS, US Bank, Vanguard, Wealthify, Wealthsimple, Wells Fargo, Westpac.

Overview

- Central banks potentially rising interest rates in 2018 will affect the asset allocation landscape.

- 64.0 percent of wealth managers agree that intergenerational wealth transfers will be a big source of additional business in the upcoming years.

- New investment products including impact investments and cryptocurrencies will become mainstream.

- The use of automation and technology in general will increase as providers look to reduce costs.

- Robo-advisors will continue to grow, but their share of the global market will not change drastically.

Great reasons to purchase

- Comprehend the top trends impacting the wealth management industry in 2018 and how to respond.

- Discover drivers behind intergenerational change among your clients, and the customer targeting strategies that will help you retain existing clients and engage with additional customers.

- Learn about main regulatory developments and how to leverage them to your organization's benefit.

- Stay ahead of your business competitors by keeping up to date with product innovation in the industry.

- Discover how HNW asset allocation preferences are set to evolve in 2018, and what this means for your business project.

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