Ken Research announced recent publication on 2017: Trends to watch in global wealth industry. The report provides an in depth analysis on the trends in the global wealth management industry for the year 2017. 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. Further it examines developments across a number of key areas, from regulation, to product and service trends, to asset allocation drivers and analyses the impact of regulatory developments on the industry, looking in particular at MiFID II in Europe and tax amnesties across the world. The report discovers how wealth managers can benefit from the emerging regtech sector and Considers the opportunities in targeting internationally active clients, as well as defining the target audience for robo-advisors.
Wealth Management (WM) industry is one of the most attractive sectors inside the financial services due to the fact that this business has high growth rate, low capital investment and greater return on equity and WM offerings are necessary to attracting and retaining profitable retail customers .
This industry is currently going through significant changes as a new generation of investors have cropped up whose expectations and preferences have been shaped up by new technologies. Further, after going through the financial crisis people have began to adopt new standards to the industry in terms of how advice and investment products are being delivered.
However, recently the wealth management industry has been going through a series of disruptions. As the customers have been rewired I.e. a new generation of investors have come up they think differently about advice andget in new attitudes and expectations to this industry,having a great impact on how older investors purchase and consume wealth services . Additionally, as the trend of robotic advisers have risen. This has impacted the market significantly as the whole dynamics of the advisory business has seen a tremendous shift. As the volume of the customer data has increased exponentially, new technologies have been developed to make sense to it. Thus, as more and more WM firms have increased their investment in building more advanced analytics and data management capabilities, the industry is set to go through a set of changes.
Initially the financial advisers focused on investment advice and promised the clients that they will deliver superior investment returns to them. However,today investment advice has largely became commoditized as all the firm has access to the same pool of information. This has led to under-performing of stock pickers. Now, the expectations of the investors have increased and they want the same access of information as the wealthier,accredited investors. Thus, these new changes in the business environment and the attitude of people will be defining the wealth management industry in the upcoming future.
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Ankur Gupta, Head Marketing & Communications