The future of european wealth management imperatives for success
The European Financial Review is the leading financial intelligence magazine read widely by financial experts and the wider business community. The European Financial Review is designed to ensure that you make informed decisions as you develop financial knowledge and is indispensable in helping you and your business stay ahead of the competition. Contents 03 Foreword 05 Executive summary 08 Impact of global macro-trends 10 Rise of state-directed capitalism 11 Technology will change everything 14 Demographics changing priorities and opportunities for growth 15 Social and behavioural change 17 Potential disruptors to this future 18 Evolution and disruption – an imperative for change 19 Six priorities for 2020 EY wealth management outlook 2018 | 9 With expected above-average growth of 5.9% and a high increase in NIA, nations in Asia-Pacific can be viewed as rapidly developing and weighty co-players, adding to the region’s appeal. Hosted by the Financial Times, the Future of Asset Management Summit will examine the innovations that are disrupting and reshaping the sector, and the opportunities and risks ahead. Chaired by senior FT Group editors and commentators, and bringing together decision makers from the world’s leading asset and wealth management firms, this high-level forum will explore and evaluate the critical E WOR AHEAD EUROPE’S DIGITAL IMPERATIVE 2 The Work Ahead is a research series providing insight and guidance on how businesses – and jobs – will evolve in the digital economy. In this instalment, we compare and contrast the digital viewpoints of European businesses; The Future of Asset Management 3 04 New challenges, New answers The main challenges we believe the asset management industry faces today. 06 Imitation is the sincerest form of flattery Traditional long-only asset managers and hedge fund managers will need to reassess their operating process to support new strategies.
Wealth and asset management firms face sweeping changes to their strategies Wealth and asset managers are experiencing a time of exponential change. The 2019 EY CEO Imperative Study reveals that investors and boards expect CEOs to To succeed with tomorrow's consumers, financial services must become a
4 THE FUTURE OF EUROPEAN WEALTH MANAGEMENT: IMPERATIVES FOR SUCCESS THE EUROPEAN WEALTH MANAGEMENT INDUSTRY is undergoing fundamental change at an unprecedented pace. Against this backdrop, J.P. Morgan Asset Management and Oliver Wyman are pleased to present this report on “The future of European wealth management: imperatives for success.” Success Depends on Delivering Against Five Strategic Imperatives. In the face of these forces of change, wealth managers must redesign their business models to be successful in the future. Through our executive interviews and research, we have identified five strategic imperatives that can better prepare wealth managers to master the challenges INDEPENDENT THINKING ON: THE WEALTH MANAGEMENT IMPERATIVE wealth to future generations, and how to manage that wealth after it is transferred. It would appear for advisors that adopting, or evolving into, a wealth management model may be the managers, the report outlines what they consider the critical success drivers that help DNA Of Success; Forbes Analytics Plus With Teradata | Paid Program Five Predictions On The Future Of Wealth Management. Evolution brings change, and the wealth management industry is EY wealth management outlook 2018 | 9 With expected above-average growth of 5.9% and a high increase in NIA, nations in Asia-Pacific can be viewed as rapidly developing and weighty co-players, adding to the region’s appeal. European regulations have increased opera-tional costs for private banks, and the average cost of customer management has risen by 20% to 30%.4 Under the Retail Distribution Review (RDR), wealth managers in the UK are prohibited from taking commissions from product provid-ers and are required to disclose the cost of pro-viding advice upfront. The Future of Wealth Management. Aside from the clothes, a lot of what was predicted in "Back to the Future" has become reality. Does your IBD make the grade? Take the survey for a chance to
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Improving your odds of success for large scale change programs. 2020 – The North American wealth management industry will undergo meaningful shifts in the next ten years Adapting to a new normal in European asset management. November 2019 – Structural shifts are reshaping Europe’s asset-management landscape. For individual firms
3 Jun 2019 To succeed, organizations must blend digital and human capabilities. Wealth Managers Must Sharpen Their Focus to Sustain Growth ADDRESSING THE GROWING CYBERSECURITY IMPERATIVE. 25 In Eastern Europe, personal financial wealth a home purchase or a child's future educa-.
Success Depends on Delivering Against Five Strategic Imperatives. In the face of these forces of change, wealth managers must redesign their business models to be successful in the future. Through our executive interviews and research, we have identified five strategic imperatives that can better prepare wealth managers to master the challenges
European regulations have increased opera-tional costs for private banks, and the average cost of customer management has risen by 20% to 30%.4 Under the Retail Distribution Review (RDR), wealth managers in the UK are prohibited from taking commissions from product provid-ers and are required to disclose the cost of pro-viding advice upfront.
In this future world, risk management should be baked into operations with the same level of depth as human resources or finance. Further, risk management should be used to drive new developments to the same extent it is used to protect existing operations. Improving your odds of success for large scale change programs. 2020 – The North American wealth management industry will undergo meaningful shifts in the next ten years Adapting to a new normal in European asset management. November 2019 – Structural shifts are reshaping Europe’s asset-management landscape. For individual firms More generally, the asset management industry, which for so long has operated out of the limelight, needs to do a better job in articulating its value. The industry plays a vital role in helping institutions and individuals meet the financial requirements of the future and in a low interest rate, low return world, this is more important than ever.
E WOR AHEAD EUROPE’S DIGITAL IMPERATIVE 2 The Work Ahead is a research series providing insight and guidance on how businesses – and jobs – will evolve in the digital economy. In this instalment, we compare and contrast the digital viewpoints of European businesses; The Future of Asset Management 3 04 New challenges, New answers The main challenges we believe the asset management industry faces today. 06 Imitation is the sincerest form of flattery Traditional long-only asset managers and hedge fund managers will need to reassess their operating process to support new strategies. Top 10 Trends in Wealth Management 2017 What You Need to Know Wealth Management the way we see it. Table of Contents Introduction 3 an uncertain political future in Europe, increasing regulatory supervision, and new competition from rising FinTechs and their innovative services for In this future world, risk management should be baked into operations with the same level of depth as human resources or finance. Further, risk management should be used to drive new developments to the same extent it is used to protect existing operations. Improving your odds of success for large scale change programs. 2020 – The North American wealth management industry will undergo meaningful shifts in the next ten years Adapting to a new normal in European asset management. November 2019 – Structural shifts are reshaping Europe’s asset-management landscape. For individual firms More generally, the asset management industry, which for so long has operated out of the limelight, needs to do a better job in articulating its value. The industry plays a vital role in helping institutions and individuals meet the financial requirements of the future and in a low interest rate, low return world, this is more important than ever.