Entry into emerging markets, followed by acquisitions of smaller players and recruitment of investment managers, are set to dominate the growth of the wealth management industry, according to Acuity Knowledge Partners’ global wealth managers survey.
The survey, which interviewed around 100 representatives of leading private wealth management firms, revealed that despite the near-term challenges of inflation and the uncertain outcome of the Russia-Ukraine war, global wealth is set to record consistent growth. Pacific excluding Japan is expected to record the fastest growth in private wealth, with increased penetration of private wealth managers and riskier financial products gaining popularity. Respondents said that market consolidation through M&A offers the opportunity to diversify their offerings to new markets or add newer t...
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