(FS.1.03) Private Banking & Wealth Management Your browser does not support the audio element. [New] Assets under management in the SAAAME@ Growth in assets will be driven by three key trends: the government-incentivised shift to individual retirement plans; the increase of high-net-worth-individuals (HNWIs) from emerging populations; and the growth of sovereign wealth funds. [New] The World Bank and IFC facilities combined are only $14 billion and will focus on healthcare and (from the IFC) essential financing to private companies in developing countries. [New] With a large number of companies in the U.S., the thriving wealth management industry owing to the large population of high income people, and the willingness to embrace new technologies will continue to work in favor of the global robo advisors market in the next few years as well. [New] Sovereign wealth funds and pension investors' assets under management are expected to grow to US$10 trillion next year from about US$8 trillion currently. [New] The Bank of Korea forecast exports next year would slow to a rise of 3.2%, although private-sector institutes predict risks for a faster slowdown. [New] The World Bank recently announced a new $500 million operation to support key reforms in Tunisia aimed at promoting private investment and creating opportunities for small businesses. [New] HNWIs with assets of more than US$20 million are expected to increase their assets with their primary wealth management firms much more than HNWIs with assets between US$1 million and US$5 million (28.8% versus 17.1%). [New] The World Bank has stated that private investments in India is expected to grow by 8.8 per cent in FY 2018-19 to overtake private consumption growth of 7.4 per cent. [New] The Bank of Japan has expressed optimism that private consumption will join exports in helping drive Japan's economic recovery. Global Digital Transformation in Wealth Management Advisory market is expected to grow at a CAGR of +15% during the forecast period 2019-2026. 90% of all jobs in financial planning become rapidly obsolete once robotic advisory powered by algorithms and data analytics will storm the market. IT firms wanting to move into Digital Wealth management will become aggressive in their offering even though it may cannibalize their existing offering. Add to that the news that Goldman Sachs is plotting a move into digital wealth management services for individuals with as little as $5,000 next year and disruption is clearly coming for the industry. As investors' wealth grows and the newly - wealthy become more comfortable entrusting their financial assets to digitally orientated firms, wealth managers have a large window to seize an almost USD 65.5 trillion opportunity by increasingly targeting retail clients. The APAC asset and wealth management (AWM) industry is expected to be the centre for global AuM growth in the coming years. New wealth management and financial advice capabilities will empower customers with proactive personalised advice to achieve their goals. Nearly four-fifths of rich investors recently surveyed by UBS Global Wealth Management expect volatility to increase and 55% think there will be a significant market sell-off before the end of 2020. An affiliated company, BOA Financial Group, based in Hong Kong, will offer wealth management, investment advisory and investment banking advisory services. Australia's powerful financial regulator has revealed it views climate change as a "material" risk that it will be watching much more closely in its monitoring of banks, insurers and wealth managers. The emergence and growing popularity of automated wealth management services and customer empowerment tools will pose a tangible threat to the traditional practices of the wealth management industry. The emergence of digital technologies for delivering services is forcing wealth managers to invest in their front-office digital capabilities or run the risk of falling behind. See full forecast Last updated: 28 May 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
