“2018: Trends to Watch in Global Wealth Management“, informs wealth managers and their strategy teams of the key developments emerging across the industry – and how best to respond to these changes. The report examines in detail key areas such as regulation, customer targeting, and product and service provision, with analysis supported by findings from propriety surveys of wealth managers and investors.
Regulation, innovation, and intergenerational change will be key items on wealth managers’ agenda in 2017. Compliance with the Common Reporting Standard and MiFID II will be as crucial as responding to shifting client demographics and changes to the investment landscape, fueled by cryptocurrencies growth and central banks revising monetary policies. In this environment striking the right balance between retaining existing clients and hunting for new ones will be key.
Specifically the report –
– Considers the impact of different regulation (including the Common Reporting Standard, General Data Protection Regulation, and MiFID II) on the industry.
– Analyzes shifts in investors’ asset allocation preferences and their impact on wealth managers’ strategies.
– Reveals millennials’ product and service requirements and considers successful client acquisition and retention activities.
– Discovers key trends in product innovation, exploring areas such as HNW lending, cryptocurrencies, ETFs, impact investing, and innovative fintech products.
– Examines the latest developments in the robo-advice market and future M&A activity in the sector.
– Central banks potentially increasing interest rates in 2018 will affect the asset allocation landscape.
– 64% of wealth managers agree that intergenerational wealth transfers will be a big source of new business in the coming years.
– New investment products such as impact investments and cryptocurrencies will become mainstream.
– The use of automation and technology in general will increase as providers look to reduce costs.
– Robo-advisors will continue to grow, but their share of the overall market will not change drastically.
Reasons to buy
– Understand the key trends impacting the wealth management industry in 2018 and how to respond.
– Discover drivers behind intergenerational change among your clients, and the customer targeting strategies that will help you retain existing clients and engage with new customers.
– Learn about key regulatory developments and how to leverage them to your organization’s benefit.
– Stay ahead of your competitors by keeping up to date with product innovation in the industry.
– Discover how HNW asset allocation preferences are set to evolve in 2018, and what this means for your business.
Table of Content: Key Points
1. EXECUTIVE SUMMARY 2
1.1. Market summary 2
1.2. Key findings 2
1.3. Critical success factors 2
2. ASSET ALLOCATION TRENDS 9
2.1. Wealth managers need to get ready for quantitative tightening 9
2.1.1. Key wealth markets are normalizing their monetary policies in 2018 9
2.1.2. Wealth managers should discuss the effects of higher rates on the typical HNW portfolio, as HNW investors remain unprepared 9
2.1.3. Amid limited demand for cash products, a reshuffle of the typical bond portfolio is called for 11
2.1.4. In the equity space we will see a focus on financials and consumer staples 13
2.1.5. Rising demand for commodities should be redirected to gold or other precious metals 13
2.1.6. In the offshore space, access to the US markets will be even more important than currently 13
3. REGULATORY TRENDS 15
3.1. All private wealth managers will need to adapt to CRS 15
3.1.1. Offshore wealth managers are directly in the firing line of CRS 16
3.1.2. Automation of CRS compliance will become a competitive advantage 17
3.1.3. Any repeal of FATCA would create a huge competitive advantage for US wealth managers 18
3.1.4. CRS is prompting divestment of certain types of high-risk business in wave one countries 19
3.1.5. Private wealth managers based in Switzerland should benefit from CRS 19
3.2. MiFID II entered into force on January 3, 2018 20
3.2.1. Wealth managers expect MiFID II to encourage price competition 20
3.2.2. Many EU governments are still struggling with MiFID II transposition 20
3.2.3. Research teams will downsize following MiFID II implementation 21
3.2.4. European countries will not be the only ones affected by MiFID II 22
3.3. GDPR and the fiduciary rule will add to the compliance burden 23
3.3.1. Banks will have to roll up their sleeves as the GDPR deadline approaches 23
3.3.2. The US is preparing for implementation of the fiduciary rule 23
3.4. Changes to non-domicile legislation will fuel HNW migration 23
3.4.1. UK long-term non-doms will no longer benefit from special status 23
3.4.2. New rules will impact HNW offshore investments 24
3.4.3. Other European countries willing to reduce non-doms’ tax bills will compete with the UK 24
4. CUSTOMER TARGETING TRENDS 25
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