17 Sep 20

Democratization of wealth management

A unique business opportunity

The financial services industry and, along with it, the wealth management sector are undergoing significant transformation due to rapidly changing client demands, tighter regulations, and new competition. These challenges are driven by four megatrends: wealth shifts, socio-behavioural changes, economic and monetary turmoil and technological evolution.

Download our report to gain insights on how to seize the business opportunity created by these trends. Learn how high-end wealth management services can be brought to the affluent segment, which is growing in both wealth and numbers. We call this the democratization of wealth management.

Key findings
  • USD 15tr+

    in the USD 5m+ segment by E2030

    Source: Wealth-X, 2019

  • USD 243-282tr

    by E2024

    Source: BCG, 2020

  • 1.7-4.6%

    CAGR from 2019 to E2024

    Source: BCG, 2020

Embracing new client expectations

To capitalize on the democratization of wealth management, wealth managers must deliver hyper-personalized advice at scale while addressing the specific needs of this new clientele. Success in serving the rising affluent segment requires a balance between industrialization, innovation, and individualization.

By leveraging cloud-based platforms, open banking ecosystems, and data-driven techniques, wealth managers can efficiently scale their services and provide bespoke, impactful advice. This approach not only meets the demands of affluent clients but also positions wealth managers to thrive in the evolving financial landscape.

Download our report now to discover actionable strategies and stay ahead in the competitive market.

To help wealth managers take advantage of the democratization of wealth management and excel in today’s challenging financial environment, Avaloq recommends a five-step recipe that balances industrialization, innovation and individualization.

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