Private Wealth Management – Changing Trends

As demographics shift and more millenials actively seek to invest, the wealth management industry has begun to experience a major change regarding the needs and interests of younger clients.

Facing a changing regulatory landscape, new business models, and disruption from big-tech, incumbents seek to maintain stability in their existing assets as companies deepen relationships with next-gen investors. To position for the next wave of growth, wealth managers have embraced digitalization since the onset of the pandemic, prioritizing virtual engagement and hyper-personalization choices, to offer financial planning advice and seize asset growth throughout the wealth spectrum. Cyber security and human-centered designs have become vital to building superior digital client experience (CX), as well as requiring high end investments. ESG scoring, customized client engagement, and data analytics capabilities, have now taken the front seat.