Summary The pandemic has reshaped business on so many levels, and wealth management is no different.Robo-advice; industry consolidation; greater concern for environmental, social, and governance (ESG) principles; and a shift towards greater use of technology in the personalization of wealth management were all important trends before COVID-19.
In many cases, the pandemic has served to accentuate such factors. This report identifies the key trends that will impact the wealth management industry in 2021.
This report informs wealth managers and their strategy teams of the key developments emerging across the industry and how best to respond to these changes. It examines key areas such as regulation, HNW asset allocation strategies, customer targeting, and cybersecurity, with analysis supported by findings from our propriety surveys of wealth managers and investors.
Scope - Only weakly impacted by the crisis, mass affluent wealth will attract more competition for key private wealth brands.
- Investor loyalty and retention is down, with many wealth managers concerned about churn.
- There has been a major buildup of cash and near-cash assets under management (AUM) in HNW portfolios.
- Industry consolidation will occur at all levels of the industry as gaining economies of scale becomes more important in a sluggish recovery market.
- The big boost to non-resident assets will be driven by investors from markets hard hit by the pandemic, such as the US, Brazil, and the UK.
Reasons to Buy - Understand the key trends impacting the wealth management industry in 2021 and how to respond.
- Discover the effects of COVID-19 on the offshore industry and how to benefit from new trends.
- Understand the best approach to client portfolio strategies given current market conditions.
- Learn about risks resulting from the industry’s growing dependence on technology and how to hedge against cyber threats.
- Stay ahead of your competitors by reaching out to new emerging client demographics that offer huge revenue growth potential.
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