Wealth Management - US - January 2011
As the world begins to recover from the difficult economic environment of the past few years, there have been many changes that have come about. Investors both young and old are experiencing mixed feelings as they consider how to move forward; advisors are seeing a glimmer of interest in investing again, but also some anxiety and wariness about the potential vagaries of an economy not quite yet on its feet.
This report examines the trends, opportunities and challenges present in the wealth management industry. There are still many opportunities for success in wealth management, but it will require some adjustments both in working styles and in strategies on the part of advisors and their firms. Those who can’t or won’t make those adjustments are certain to be left behind.
The following topics are discussed in this report:
- How wealth is being redistributed around the world so that the fastest-growing pockets of wealth are now in the emerging markets of Asia Pacific and India rather than in the more developed areas of North America and Europe
- How the economy is slowly starting to recover, bringing increased interest in investing
- Investors are feeling somewhat more confident in their own personal financial situation, but are still leery about the prospects of the U.S. economy
- Trust and transparency are still the watchwords for the financial services industry; investors are willing to work with advisors, but they have strict requirements for communication and are willing to leave an advisor if they are not getting what they want
- The major shift in the way media is used: print media readership is down, while use of electronic media is up. This trend will continue and even grow, and it is forcing investment companies to figure out how to utilize electronic media, especially as the younger generation gradually enters the investing mainstream
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