Globally, wealth management is a large, profitable and expanding industry. The industry dynamics and trends highlighted below match the growth we’re witnessing today in the market. Click each section to find out how PwC can help you respond to the changing industry landscape. 

    There is a quiet evolution sweeping through the industry that goes to the core of the industry’s identity: the nature and future of advice. This issue looks at the meaning of trust; the balance between standardization and personalization of advice; the nature of advice and the implication for advisors; and how that advice is delivered.  Learn more about these trends in Strategy& Industry Perspectives. (click through to Strategy& Industry Perspectives 2016)

    Learn more about these trends in Strategy & Industry Perspectives.

    Over the past three decades, there has been significant wealth creation generated by billionaires. Though the number of billionaires has been on the rise, less than half of 1995’s billionaires are in that league today. PwC partnered with UBS to conduct two Billionaire Surveys, whereby we explore the distinct personality traits of billionaires, and deliver unique insights around what it takes to create sustainable legacies, the role of philanthropy, and the volatility of wealth.

    Find out more about the changing faces of billionaires

    Generational wealth transfer is creating new challenges. As family wealth grows and the business environment becomes more complex, families need to handle more intricate issues. PwC can help you assess tax considerations, ownership transfer options, and develop standard industry practices related to governance. We can also help effectively communicate the results to family members and other key stakeholders so that the value will endure well beyond leadership transition.

    Customers today are increasingly comfortable with digital channels and expect institutions and experts managing their wealth to progressively employ digital tools and practices. Organizations are facing sweeping technological changes that will undoubtedly effect the way our clients do business. PwC can help you keep pace with the rapid change and help you navigate the evolving risks that make this a challenging area. 

    Cyber threats and attacks are becoming increasingly common and impact brand, competitive advantage, and shareholder value. While no industries are safe from cyber threats and attacks, wealth management firms are particularly vulnerable. PwC can help organizations assess and reduce cybersecurity risk, respond to specific cybersecurity incidents and help you think through the challenges ahead. 

    Today, women play a greater role in wealth creation, with some studies predicting that women may control up to two-thirds of the nation's wealth by 2020. Female billionaires are also on the rise, with strong involvement in family businesses, philanthropic enterprises and governance.  As such, there is a growing need for specialized services geared towards women, presenting a huge opportunity for financial advisors to change the way they interact with this client segment. 

    Regulatory dynamics have added to  operational cost and complexity across wealth management business models, with convergence towards fiduciary standards. In addition, the increased sophistication of markets and customers are driving heightened transparency and performance requirements. PwC can help you navigate the interplay between innovation and the regulators. 

    How PwC can help

    Our Wealth Management partners and staff can assist in meeting these key industry challenges. Contact our leaders to learn more. 

    Michael Spellacy
    Partner, Global Wealth Management Leader
    Tel: +1 (646) 471 2076
    Gary Meltzer
    US Asset & Wealth Management Sector Leader
    Tel: +1 (646) 471 8763