Global assets under management fell by 10% in 2022. To return to historical levels of growth, firms should focus on profitability, private markets, and personalization.
Flipping the lens to look at global wealth from the perspective of client needs instead of net worth reveals huge untapped revenue pools lying in plain sight.
North American wealth managers entered the recent crisis in worse shape than they entered the Global Financial Crisis of 2008/2009. This creates a pressing need for change, and a revitalized agenda is called for to establish strategic priorities and a winning game plan.
