Wealth management is a booming industry. The global wealth management industry pegged at USD 1.25 trillion in 2020 is expected to touch USD 3.43 trillion by 2030, growing at a CAGR of 10.7% between 2021 and 2030. While the scope and potential of this industry are quite staggering, there is also an increasing level of fragmentation in terms of services offered and client segments targeted by various wealth management companies.
The competition for high net worth individuals (HNWIs) has also grown fiercer than ever before. As a result, businesses need to keep up with the latest trends to remain relevant and capture a larger pie of this evolving market. Let’s look at some of the emerging trends witnessed by this industry.
Source: https://www.financialexpress.com/money/top-5-emerging-trends-in-wealth-management/2637190/
