Today’s wealth management landscape is more challenging than ever: even as high-net-worth individual (HNWI) prosperity rebounds, geopolitical uncertainties, market volatility, and a fiercely competitive environment are putting pressure on wealth management industry profits, according to Capgemini’s recent World Wealth Report.
The World Wealth Report 2024 reflects the views of 3,119 high-net-worth individuals, including 1,300-plus ultra-HNWIs and 75 executives from pure wealth management (WM) firms, universal banks, broker/dealers and family offices, along with survey responses from 750-plus relationship managers across North America, Europe and Asia Pacific. Key findings include:
Rebounding markets and a brighter outlook lifted 2023 global HNWI wealth by 4.7 percent, and HNWI population numbers increased by 5.1 percent. While growth was seen across all wealth bands, the ultra-HNWI segment (investors
