World Wealth Report 2023
Unlock growth in wealth management: Empowering relationship managers and serving the affluent.
Throughout 2022, the global economy experienced a steeper-than-expected slowdown: as a result, the wealth management industry around the world faces a daunting array of new challenges. Careful cost management, strategic investments, and a recalibration of the customer mix will all be required to enable long-term growth.
Highlights from the World Wealth Report 2023, which reflects the views of 3,171 High-Net-Worth Individuals (HNWIs), 3,203 affluents, 95+ Wealth Management (WM) executives and wealth managers, along with 800 relationship managers across North America, Europe, and Asia-Pacific, include:
- During 2022, HNWI wealth and population totals experienced the highest declines in a decade, dropping by 3.6% and 3.3%, respectively, as compared to 2021.
- To boost revenues and solve for profitability pressures, relationship manager enablement and related technology-powered capabilities, including one-stop-shop digital workstations, are critical.
- Although profitability challenges are real, capture the affluent segment early in their wealth lifetimes and grow with them as they become future HNWI clients.
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