What’s new and what’s not in US wealth management

| Article

The bifurcation of wealth is expected to persist, and new, scalable and cost-effective service models will allow wealth managers to serve historically underserved segments. Given the industry’s positive outlook and highly attractive profit pools and margins, it is only a question of when technology-led firms, either existing incumbents or platform firms, try to disrupt the status quo. The winners will likely not enjoy margins as high as the industry boasts today, but they will compensate by serving a significantly larger number of clients in a cost-effective way. Thus, while it may be tempting to sit back and enjoy the ride, executives should be closely examining and rethinking their business models, and taking bold actions to build for success and competitiveness through the cycle and into the future.

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