Over the next 50 years, more than $41 trillion in assets will be transferred between generations. To stay competitive, wealth managers and their firms must invest to improve technology, processes and strategy.
The generational shift of wealth represents an extraordinary opportunity for financial advisors. However, this wealth transfer isn't without its challenges for advisors. Shifting client expectations, the emergence of new competitors, and disruptive technologies are just a few of the key challenges facing wealth managers.
To succeed in capitalizing on these changes in the industry, wealth managers and their firms must invest to improve technology, processes and strategy.