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Global Wealth Management: Competitive Dynamics 2024

Publisher GlobalData
Published Dec 17, 2024
Length 46 Pages
SKU # GBDT19497765

Description

Global Wealth Management: Competitive Dynamics 2024


Summary

This report benchmarks the world’s leading wealth managers by managed client assets and financial performance. It covers the 50 most prominent institutions, including standalone private banks and wealth managers, as well as competitors that are part of larger universal financial groups. The report discusses wealth managers by assets under management, as well as providing financial analysis and identifying competitive trends, whereby external and internal factors such as geopolitics and acquisitions are examined.

In 2023, wealth managers experienced a strong rebound in markets, driven by recovering equity valuations and increased client activity. Assets under management (AUM) grew significantly, supported by net inflows and rising portfolio values. Revenues increased as fee-based services gained momentum, while net interest income (NII) continued to contribute to profits amid higher-interest-rate environments. Despite these gains, wealth managers faced pressure from rising operational costs and regulatory demands, requiring a focus on efficiency and client engagement to sustain profitability. Wealth managers have maintained strong momentum in 2024, with continued growth in AUM driven by alternative investments and the technology sector. Revenues and profits remain robust, supported by diversification into private equity, infrastructure, and active management, while wealth managers adapt to evolving market conditions with strategic cost-cutting and operational efficiencies.

Scope
  • AUM grew significantly in 2023 thanks to favorable markets and higher net inflows.
  • The biggest continue to get even bigger, fueled by increased merger and acquisition (M&A) activity.
  • The digitalization of the wealth management industry is paying off, improving operational efficiency and attracting the next generation of investors through personalized and accessible financial solutions.
Reasons to Buy
  • Understand the challenges facing wealth managers and how the top banks are addressing them.
  • Learn about the strategies driving growth at leading wealth management groups.
  • Analyze wealth profitability trends and discover the strategies that leading banks are using to improve performance.
  • Identify the industry’s best practices in managing operating costs and boosting revenues.
  • Gain insight into the major trends preoccupying wealth managers.

Table of Contents

46 Pages
    • 2023 was the year markets defied expectations, with growth continuing in 2024
    • Key findings
    • Critical success factors
    • AUM recorded growth of 12% in 2023 and is on track for more in 2024
    • Regions saw big shifts in AUM and composition
    • New money was up in 2023
    • Banks are adjusting focus to boost competitiveness
    • Profitability weakened despite AUM growth in 2023
    • Stronger revenue growth was due to more alternatives in the AUM mix
    • Efficiency improvements and strong customer activity continue to improve group profits
    • Threats vs opportunities
    • ESG investing has become mainstream among all leading private wealth managers
    • Growth in digital wealth managers
    • Consolidation and M&A activity
    • Shift in client demographics and next intergenerational wealth transfer
    • Abbreviations, acronyms, and initialisms
    • Secondary sources
    • Further reading

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