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Top 10 trends for wealth management 2018

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Rapid, but transformational evolution in client preferences, technology, and advisory models is giving rise to potentially high-impact trends for the wealth management industry. From now throughout the next 12 months, traditional wealth managers are expected to face intense competition from nimble customer-centric FinTechs and possibly from BigTechs such as Alibaba, Amazon, and Tencent. In the battle for sustainable business expansion, wealth managers will need to be agile in meeting customer needs and adaptive to changing business models. This report highlights the top 10 trends facing wealth management firms over the next year.

Publicada em: Economia e finanças
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Top 10 trends for wealth management 2018

  1. 1. Top 10 Trends for Wealth Management 2018 December, 2017
  2. 2. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 2 Applications of artificial intelligence, machine learning, and cognitive insights expand across wealth management industry Exponential increases in computer power leading to rise in AI and ML systems Regulatory and Operational Efficiency Pressures Evolving Client Demands Innovative applications using emerging technologies are now moving beyond marketing analytics toward more strategic functions Source: Capgemini Financial Services Analysis, 2017
  3. 3. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 3 Increasing, Complex and Stringent Regulations Increasing Competition Firms need to look at RPA beyond just a technology initiative and leverage it to re- orient their business models, re-engineer their processes, and restructure their people Source: Capgemini Financial Services Analysis, 2017 Robotic process automation can help firms keep costs down and accelerate digital transformation Changing Consumer Behavior Workforce Inefficiencies
  4. 4. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 4 Changing HNWI Behavior and Preferences Non-Differentiated Offerings Entry of Non-Traditional Players Solutions Focus Service Delivery Experience Differentiated Product Solutions Customer Prospecting and Acquisition Source: Capgemini Financial Services Analysis, 2017 Innovation is key for firms to be future-ready
  5. 5. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 5 Disruption by Low-Cost Advisory Models Services for the Mass-Affluent Segment The increasing ease of access and low cost of switching between service providers and products could lead to marketplace models of wealth management. Source: Capgemini Financial Services Analysis, 2017; “Robotic Automation Market to Reach US$ 4.98 Bn by 2020”, GlobalNewsWire, March, 2015, accessed October, 2017 at https://tinyurl.com/y84c7tbw Introduction of marketplace models for wealth management products Acceptance of Digital Services
  6. 6. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 6 Changing Demographics And Demands Of HNWIs Rising Leverage of Digital Channels Source: Capgemini Financial Services Analysis, 2017 Focus on enhanced customer experience is becoming a wealth management priority Firms need to anticipate customer needs and identify behavior patterns better to keep up with evolving client needs and offer a more collaborative, individualized wealth experience and an integrated customer journey across the value chain Rise in Demand of Personalized and Tailored Offerings
  7. 7. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 7 Recent large-scale cyber-attacks Unforeseen Risks with New Technologies Increasing Regulatory Scrutiny Use of sensitive data, regulatory mandates, and digitalization require firms to beef up their cybersecurity mitigation plans Source: Capgemini Financial Services Analysis, 2017 Cybersecurity continues to be an important concern for wealth management firms
  8. 8. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 8 Continuously Evolving Regulatory Requirements Stricter Oversight over Fee Payment Models Stricter Enforcement of Fiduciary Rules Source: Capgemini Financial Services Analysis, 2017; Gartner, Smarter With Gartner, “How to Create a Business Case for Data Quality Improvement”, Susan Moore, January 9, 2017 New regulations are putting significant focus on investor protection and client disclosures. Organizations are dedicating time and money to combat these challenges. Increase in cost of doing business for firms due to complex regulations
  9. 9. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 9 Almost half of global HNWIs are partial to a hybrid approach to ‘manage ongoing advice and optimization’a Increased agility and competitive differentiation are also critical benefits of a robust hybrid advisory solution The maturing of hybrid advice will have significant impact on the wealth management industry, although human element will remain a key differentiator HNWIs want the flexibility to choose from self-service delivery, a wealth manager-led approach, or a hybrid approach a: Capgemini World Wealth Report 2017 Source: Capgemini Financial Services Analysis, 2017 Advent of hybrid advice solutions to set wealth management on a new course
  10. 10. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 10 Advent of Cost Efficient Digital Solutions Changing Customer Expectations Rising Investable Wealth of Niche Segments Increasing Competition Source: Capgemini Financial Services Analysis, 2017 Development of next-gen genome-based segmentation and increased focus on traditionally underserved segments Accessing traditionally underserved segments can create the next big opportunity for the wealth management industry
  11. 11. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. 11 Only 47.8% of HNWIs globally say they are fully comfortable with the level of fees charged for wealth management servicesa Increasing HNWI Demand for Transparent fee Models Stricter Regulations around Fee Models Client discomfort with fee levels and rising demand for transparency are encouraging flexible performance- based and modular-fee models a: Capgemini World Wealth Report 2017 Source: Capgemini Financial Services Analysis, 2017 Evolution of fee models due to client demands, regulatory mandates, and competitive pressure
  12. 12. Capital Markets Trends 2018| December 2017 © 2017 Capgemini. All rights reserved. With more than 190,000 people, Capgemini is present in over 40 countries and celebrates its 50th Anniversary year in 2017. A global leader in consulting, technology and outsourcing services, the Group reported 2016 global revenues of EUR 12.5 billion. Together with its clients, Capgemini creates and delivers business, technology and digital solutions that fit their needs, enabling them to achieve innovation and competitiveness. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business Experience™, and draws on Rightshore®, its worldwide delivery model. About Capgemini Learn more about us at www.capgemini.com This message contains information that may be privileged or confidential and is the property of the Capgemini Group. Copyright © 2017 Capgemini. All rights reserved. Rightshore® is a trademark belonging to Capgemini. This message is intended only for the person to whom it is addressed. If you are not the intended recipient, you are not authorized to read, print, retain, copy, disseminate, distribute, or use this message or any part thereof. If you receive this message in error, please notify the sender immediately and delete all copies of this message.

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