EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
The EY organization worked with market research consultancy Savana to conduct an extensive survey of nearly 3,600 wealth management clients across more than 30 geographies to research client sentiment, needs and preferences along with clients' actions, plans and intentions - allowing us to track key developments in demand and shifts of assets. The survey was in market between October 30th and December 24, 2024, and includes analysis from the EY Global Center for Wealth Management.
Objectives and rationale
The following macro-trends were surveyed:
- Intergenerational wealth transfer and “family matters”
- Alternative investments
- Value and quality drivers for advice
- Client switching behaviors and client/advisor relationships
- Acceptance of GenAI [co-pilot]
- Anticipated shifts in portfolio allocations
- Transparency and pricing
Survey design
The survey was conducted using a mixed-methods approach, utilizing both quantitative and qualitative techniques. It was structured to facilitate ease of response while allowing for in-depth exploration of specific topics. The questionnaire included the following sections:
- Screening
- Market perceptions and volatility
- General
- Switching and assessment
- Overall perceptions and value of advice
- Intergenerational wealth transfer
- Investment products and services
- Artificial intelligence
- Transparency and pricing
- Demographic profiling
Sampling strategy and participants
The analysis covers age demographics, gender ratios, management style preferences, and financial preparedness levels among different wealth groups across the surveyed regions. The report presents a detailed audience profile overview, highlighting the distribution of wealth across various groups, including: