Technology has transformed the way companies manage their finances, investments, and wealth. Data-driven decision-making and enhanced client experiences have driven the improvements. The emergence of fintechs is visible as wealth managers increasingly invest in new technologies, including robo-advisor, robotic process automation, artificial intelligence (AI), and digital identification (ID) technologies for boosting customer experience. AI-driven tools help businesses optimize investment strategies, manage risk, and improve portfolio performance. Implementing advanced cybersecurity protocols ensures the integrity and confidentiality of client wealth management activities.
The global wealth management industry is poised to reach $3.43 trillion by 2030, demonstrating a compound annual growth rate (CAGR) of 10.7 percent. This growth is fueled by alternative investments like private equity, commodities, hedge funds, real estate investment trusts (REITs), and intellectual property. Fintech disruption in wealth management, coupled with the benefits offered by wealth management, such as reduced financial stress, financial planning, and digitalization, are significant contributors to market expansion. Technological advancements and the untapped potential of emerging economies are creating new market opportunities. Wealth managers can tailor their services using data analytics to meet clients' needs and provide personalized investment recommendations, thus driving market growth.
This edition of the Financial Services Review explores insights into the wealth management sector and how companies leverage technological advances to effectively predict market trends, assess risk, and identify investment opportunities.
It features esteemed industry experts YesimTokat-Acikel, Managing Director, Portfolio Manager at Principal Asset Management, and Sébastien Page, CFA®, Head of Global Multi- Asset and Chief Investment Officer at T. Rowe Price, who share their invaluable insights through thought leadership articles.
This edition also spotlights Graham Capital Advisors, a prominent player assisting both commercial and personal clients in meticulously crafting well-defined retirement strategies.
We hope this edition of Financial Services Review will assist you in finding the right partner suitable to your business requirements.
