Today’s rich are living longer, and living more actively for longer too. But a new generation of clients is about to inherit trillions from today’s wealthy. Their expectations are high, and the lure of DIY trading looms large.
AI threatens to upend the industry, while new jurisdictions are increasingly disturbing the old order of private banking.
Investment decisions are more complex than ever. Markets and geopolitics remain utterly unpredictable. Increasingly popular private markets recommendations could prove lucrative, or a bubble could collapse in on itself.
All of that means private bankers are having to do more for their clients than ever before. Many boutique players still think they can compete, but others are getting swept up in a frenzy of private-equity-fuelled merger activity.
That’s not to mention ever-changing regulation looming large over the sector — which once pushed major lenders out of the space, who are now pouring back in — and how investment banks crack the age-old puzzle of getting their dealmakers to talk to their private client advisers.
Clients have time horizons that extend well into the future. By 2050, what will the wealth management sector look like? Who will be the winners and who will fall by the wayside?
That’s what Financial News will be exploring in a forthcoming special report, Wealth Management in 2050.
Featuring a series of discussions with some of the most senior private banking executives and wealth managers from the UK and beyond, as well as the dealmakers and analysts covering the sector, we hope to provide the definitive picture of the industry’s future.
Make sure you’re signed up to our weekly wealth management newsletter to stay up to date, or get in touch if you want to support the project.
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Write to Justin Cash at justin.cash@dowjones.com and Xhulio Ismalaj at xhulio.ismalaj@dowjones.com