Global Wealth Management Survey 2016

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The experience factor:
the new growth engine in wealth management


Executive summary

The wealth management industry is experiencing an unprecedented level of change: depending on where you stand, these changes can feel like opportunities or threats. Shifting client demographics and preferences present new demands. Fintech entrants are commoditizing the traditional asset allocation advice model, which is eroding pricing power and simultaneously raising the bar for better and faster service.

Wealth managers face both significant opportunities to acquire new clients and assets, as well as daunting risks in terms of retaining clients in the face of competitive threats and digital disruption. So, how should wealth managers prepare to weather the storm and grow through this period of rapid change?

EY - 73% of wealth management clients have relationships with multiple wealth managers
EY - 4 out of 10 clients are open to switching wealth managers under the right circumstances
EY - $175b - $200b incremental global revenue oportunity for wealth managers