Global wealth management outlook 2014–15: New strategies for a changing industry
Originally published by Booz & Company: January 15, 2014
According to a study of global wealth managers by Strategy& the prospects for wealth management have improved significantly over the last 12 months. But new global regulations, changing client behavior, the rapid advance of digitization, and a fluid competitive landscape have permanently altered the rules of the game and raised the cost of doing business. Wealth managers must learn the new rules quickly. This white paper shows how to use a “capabilities lens” to look for markets, rethink your firm’s value proposition with tiered offerings aimed at transparency and client suitability, go digital more effectively and adapt your cost structure to the revenue realities.