Market Research Report
Global Wealth Management: Competitive Dynamics
|Published by||GlobalData||Product code||592326|
|Published||Content info||42 Pages
|Global Wealth Management: Competitive Dynamics|
|Published: December 8, 2017||Content info: 42 Pages||
At the end of 2016, client assets managed by the world's top private wealth managers had grown by about 6.1% to cross a record $10tn. While a welcome return to growth after 2015's lackluster performance, the growth was fueled more by higher asset prices and the general appreciation of HNW assets rather than strong net new money. The leading wealth managers are still struggling to grow market share, highlighting the enduring competition from smaller boutiques and family offices.
Key findings included in this report -
Many wealth managers are taking steps to purge their client books of risky business, particularly in the offshore sector or geographies with poor reputations. Many leading wealth managers have already started selling off businesses in such locations. The introduction of the Common Reporting Standard (CRS) and the automatic exchange of information has made this more important in 2017 and 2018.
Majority of the top wealth managers are pursuing low-touch robo-advisory offerings. It is clear that this will become a main wealth management channel for retail clients; all wealth managers need to have a robo-advice strategy that complements their existing premium brands.
The report "Global Wealth Management: Competitive Dynamics", benchmarks the world's leading wealth managers by managed client assets and financial performance. It covers the 34 most prominent institutions, including standalone private banks and wealth managers, as well as competitors that are part of larger universal financial groups. All international wealth managers with over $100bn in private client AUM are featured in the report.
Specifically, this report -
Companies mentioned in this report:ABN Amro, Bank of America Merrill Lynch, Barclays, BNP Paribas, BNY Mellon, Bank of China, Bank of Montreal, Charles Schwab, China Merchants Bank, Citigroup, Citi Private Bank, CreditAgricole, Credit Suisse, Deutsche Bank, DBS, EFG Financial, Goldman Sachs, HSBC, HSBC Private Bank, JP Morgan, Julius Baer, Morgan Stanley, Northern Trust, Pictet, Royal Bank of Canada, RBC, Royal Bank of Scotland, RBS, Santander, SocieteGenerale, Standard Chartered, UBS, US Trust, Vontobel, Wells Fargo