The wealth management industry has been undergoing transformation since the financial crisis, and 2017 will be another year marked with changes to business models and the way providers interact with clients. Many trends observed in 2016 will continue over the next 12 months, with regulation and its costs affecting the financial performance of competitors, and market volatility (often fueled by surprising turns in the geopolitical landscape) keeping portfolio managers busy. Yet 2017 will also be a year of opportunity for competitors that embrace the change and succeed in those areas of the market where growth can be achieved.
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- As market volatility persists, managing the level of investment portfolio risk and clients’ expectations in terms of returns will be more important than ever.
- While the European industry is aware of the updated Markets in Financial Instruments Directive (MiFID II), most wealth managers remain uncertain about its effects on the market.
- “Regtech” solutions are another reason for incumbents to partner with fintech startups. Block chain technology can also be more widely adopted if compliance is ensured.
- Purely digital wealth management is not a proposition that will appeal to all HNW investors, but providers will continue to target carefully selected audiences with new robo-advice platforms.
- Smaller and local providers will gain market share in the global wealth management space.
- M&A activity in mature economies will be driven by competition for the client portfolios of aging independent financial advisors (IFAs) who are approaching retirement.
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. The report examines developments across a number of key areas, from regulation, to product and service trends, to asset allocation drivers. Specifically, the report:
- Analyzes the impact of regulatory developments on the industry, looking in particular at MiFID II in Europe and tax amnesties across the world.
- Discovers how wealth managers can benefit from the emerging regtech sector and how this may affect the adoption of block chain.
- Considers the opportunities in targeting internationally active clients, as well as defining the target audience for robo-advisors.
- Assesses the impact that newly developed investment products, such as exchange-traded mutual funds (ETMFs) can have on clients’ demand for alternative and innovative solutions.
- Examines the potential growth and M&A opportunities offered by aging IFAs, as well as the divestment activity of global players.
- Reviews the latest asset allocation trends and what is driving the growth of equities and alternative investments in particular.
- Draws on our 2016 Global Wealth Managers Survey of 324 executives to provide fact-led insight.
Reasons to Buy
- Understand the key trends impacting the wealth management industry in 2016 and how to respond.
- Get ready for the advent of the OECD’s Common Reporting Standard, and find out how your business needs to prepare.
- Discover how HNW asset allocation preferences are set to evolve in 2016 and how to respond.
- Gain an insight into the impact of digital disruption across the wealth management value chain and advice on how technology could help your business.
Table of Content: Key Points
2017 will add to the challenges the wealth management industry is facing
Critical success factors
ASSET ALLOCATION TRENDS
Managing portfolio risk is becoming more important than ever
HNW investors are significantly exposed to equity risk
Equities and alternatives will be the clear winners in 2017 despite turbulent market conditions
Global uncertainties will determine asset allocation strategies in 2017
HNW investors globally are looking for cheap buying opportunities in the equity space as volatility continues
HNW investors' varying attitudes towards risks will have an effect on asset allocation strategies
Portfolio diversification benefits will drive demand for alternatives but a certain level of hand holding is required
The industry will be preparing for MiFID II in the EU
New rules are aimed at increasing transparency and investor protection
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