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Wealth administration companies face distinctive challenges and alternatives in 2024. Sustaining profitability and including worth to purchasers can be difficult amid a nonetheless recovering fairness market, excessive rates of interest, the continuedeffects of inflation and world geopolitical instability, in line with Capgemini’s 2024 wealth administration traits report.
As many buyers look past prioritizing wealth preservation, wealth managers should get artistic, the agency suggests.
To develop enterprise, wealth managers should develop the wealth continuum to the prosperous section and capitalize on the intergenerational wealth switch. And as new segments and clients enter companies’ consumer base, advisors should use rising applied sciences to streamline workflows and enhance the expertise for a youthful, extra various clientele.
Capgemini primarily based its 2024 wealth administration traits on evaluation throughout three broad themes:
Buyer first. Examination of the impact of a quickly altering market, and the way companies are adopting strategic measures in response to shifting buyer behaviors and calls for.
Enterprise administration. A deep dive into organizational priorities for wealth administration companies to capitalize on rising alternatives within the sector.
Clever trade. Exploration of how wealth administration companies can leverage new applied sciences and adapt to evolving laws to derive advantages throughout the worth chain.
See the gallery for highlights of Capgemini’s prime 10 traits in wealth administration in 2024. Obtain the complete report right here.
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