Wealth Managers Face Pressure as Rich Seek Better Returns and New Services
Bloomberg reports on findings from Capgemini's World Wealth Report, discussing how wealth management is evolving with competition from robo-advisors and family offices. The conversation explores whether high-net-worth individuals prioritize financial returns or personal service from their wealth managers. The shift reflects broader changes in how the wealthy manage their assets and what they expect from financial advisors.
According to Bloomberg's interview with Capgemini's Gareth Wilson, traditional wealth management firms are facing increased competition from robo-advisors and family offices as the wealth management landscape transforms. The discussion centers on findings from Capgemini's World Wealth Report, examining how wealth concentration continues to grow among the richest individuals. A key question emerges about client preferences: whether high-net-worth investors prioritize empathy and personal relationships with their wealth managers or focus primarily on achieving superior financial returns. This tension reflects evolving client expectations and suggests that traditional wealth management models may need to adapt to remain competitive in an increasingly diverse marketplace.
What's missing
The article summary does not provide specific data points from the World Wealth Report itself (such as wealth growth figures, regional trends, or statistics on robo-advisor adoption rates), nor does it clarify what the actual findings were regarding client preferences between returns and empathy.
What different sources said
- BloombergCenter
The Rich Are Getting Richer: What Do They Want From Wealth Managers?
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