Across industries, consumers worldwide are changing where they shop, how they discover products, and what they ultimately buy, thanks to new technologies, innovative business models, and disruptive brands. The wealth management industry is acutely experiencing these trends. As the value perceptions of their clients shift, service providers—from firms with rich legacies to innovative new entrants—are faced with new challenges along with opportunities.
To help wealth managers navigate the changes in the marketplace and to deliver enhanced value, ESI ThoughtLab, on behalf of EY, conducted a comprehensive global survey of 2,000 clients in 26 countries. We profiled clients not just by traditional segments, such as age, gender, wealth, and location, but also by level of education, profession, investment knowledge, risk appetite, and psychographic profile. The goal was to understand their changing needs, behaviors, and value perceptions, and to provide actionable insights to service providers.
ESI ThoughtLab also conducted interviews with executives at leading wealth management firms around the world to understand how they are rethinking their value propositions and business strategies.
Among the key findings of the 2019 Global Wealth Management Research Report are the following:
To learn more about the 2019 Global Wealth Management Research Report, click here.