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Top 3 Trends Affecting Private Wealth Management


Private banking wealth management refers to management of financial resources held by individuals and corporate, which are employed and invested in utmost functionality and returns, above all maintaining security of funds and resources generated. All that is related to finance with an exception of public finance and balance of payments among nations, would be in some form or the other come under this category.

The outlook of wealth management generally encompasses asset gathering from private wealth, trading on those wealth resource and the professional fee that the wealth management agencies would charge for their services.

Global trends on private banking wealth management change periodically and also on regional basis, depending upon the political climate, innovations and technological developments and in general course of business cycle influenced by trade and commerce. Expert in finance and economics do conduct surveys periodically to understand these trends, more particularly, the wealth management consultants and advisors wise up the investors and wealth holders with this information every year.

Top 3 Trends

In the past period of three years, the financial expects have been cautioning the wealth management agencies about the decline in global wealth, challenges posed by Governmental regulations and taxation besides competitive trends that would dominate the industry by product innovations.

However, as of the moment, there are three trends that are particularly relevant to the wealth management field which are

  1. Client evolution: Wealth managers are to be more skilled and capable to respond to the demands of the Clients, who are the wealth possessors and well aware of the trends in fiscal realities, asking or rather demanding the optimal returns on their investments apart from good assurance of investment plans time and again.
  1. Impact of regulation: The Government in every country has been aggressive in financial regulations for containing its fiscal difficulties and some of the countries have been blown away by regulatory and fiscal authorities, such as Switzerland, Luxembourg etc.
  1. Operational excellence: Speed and alertness on one side, spontaneous response to the opportunities arising on and again and various other operational skills required by the wealth management companies are to be effectively employed to match with the trends for maintaining operational excellence.

Family Offices

Family Offices are the latest wealth management agencies that are successful in countries like United States, who offer complete outsourced solutions to manage finance and investments, which include budgeting, charities management, insurance, wealth transfers, family owned business matters and tax services. These offices are now as many as 3500 or more in the US alone and stand distinct from traditional wealth management agencies. This is another trend which all nations can expect to welcome in the forthcoming years.

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