Wealth Management Market Insights, Industry Player (roadridge, Comarc, Dorsum, FIS, Finantix, Fiserv), Key County Analysis (North America, United States, Europe, Japan, India) and Forecast 2019

This research study added to the broad database of Market Research Hub (MRH) focusing on the 2019: Trends to Watch in Global Wealth Management delivers an in-depth outlook to present information about executive summary and key performance indicators. Furthermore, readers can gather knowledge about the economic status, demographics and competitive landscape which is prevailing in the concerned industry during the review period, 2019. Overall, the purpose of this assessment is to present a clear picture highlighting the transformations expected to occur in the Wealth Management driven by major trends and opportunities.

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2019: Trends to Watch in Global Wealth Management

Summary

Regulation, technological change, and the bull run potentially coming to an end have all been discussed by wealth managers for so long that the risks associated with these trends have blended in. Paradoxically this means the risks are now underestimated, if not outright ignored. Yet as providers keep chasing new money and record highs in net new money figures - partly thanks to opening up to new demographics - they will have no choice but to start thinking about countering threats related to financial markets downturns and cybersecurity.

Scope

- The value of non-resident deposits in the UAE surged in 2018, with the Common Reporting Standard (CRS) potentially contributing to this trend.
- The US, where 27% of HNW offshore wealth is already booked, will continue to benefit from not participating in CRS.
- Only 43% of wealth managers are concerned about the effect of data breaches on their company's brand, although nearly 60% agree their clients are increasingly worried about data breaches and cybercrime.
- The older demographics are more prudent and less likely to be a victim of financial fraud, but their losses are likely to be higher than among younger age groups.
- Female millionaires are younger than men. In the Middle East and Africa, 71.7% of female HNW individuals are 50 and under, while 70% of HNW men are 51 and over.

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Table of Contents

1. EXECUTIVE SUMMARY
1.1. In 2019 the wealth management industry will reconsider its priorities
1.2. Key findings
1.3. Critical success factors
2. IN THE WAKE OF CRS, NON-PARTICIPATING COUNTRIES SUCH AS THE US WILL CONTINUE TO GROW AS OFFSHORE CENTERS
2.1. CRS implementation will channel more wealth to the US
2.1.1. The OECDs CRS is the most comprehensive international effort to tackle tax evasion
2.1.2. Shifts in investment structures will be slight due to anti-avoidance provisions
2.1.3. HNW offshoring money dipped ahead of CRS but has since rebounded
2.1.4. The low importance of client anonymity means CRS will not massively disrupt the offshore market
2.1.5. CRS will benefit non-participating countries and low tax jurisdictions
2.1.6. The US and its dependencies remain the clear winners under CRS
3. VOLATILITY WILL REQUIRE A RETHINK OF DIVERSIFICATION
3.1. Bias towards equities is leaving investors exposed to a rise in volatility
3.1.1. Volatility promises to pick up as the year progresses
3.1.2. The average HNW portfolio is heavily biased to equities and thus overly exposed to market shocks
3.1.3. Many wealth managers seem oblivious to a potential crash
3.2. Providers should push for further diversification in the onshore and offshore space to ready investors portfolios for a potential downturn
3.2.1. Alternatives could add further diversification, but trust and client education are needed to drive uptake
3.2.2. Wealth managers should pay greater attention to geographic and industry diversification
3.2.3. Reaching out to clients will help avoid rushed decision-making

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