PUBLISHER: GlobalData | PRODUCT CODE: 1502716
PUBLISHER: GlobalData | PRODUCT CODE: 1502716
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 in detail key areas such as the crypto hype, HNW asset allocation strategies, profitability, and ESG, with analysis supported by findings from GlobalData's propriety surveys of wealth managers and investors.
2024 promises to be another challenging year. Economic growth remains slow, geopolitical tensions are mounting, and inflation remains stubbornly high in key markets. However, there are pockets of growth. For example, India provides a significant opportunity with above-average wealth growth. Yet as more firms are looking to capitalize on strong growth, competition is heating up. In the wider wealth space, we are seeing more investments in generative AI to keep costs at bay and assist with productivity. On the client front, we see ongoing demand for personalized products, which will contribute to further growth in the direct indexing space. Demand for tokenized assets is also on the rise, which will drive the adoption of alternatives in lower wealth bands. And last but not least, cryptocurrencies are still a major theme in 2024. However, wealth managers will do well to discuss risk, as the bull will run out of breath eventually.