While global high net worth individual (HNWI) wealth is at an all-time record and is up over 70% since 2008, this wealth growth has coincided with decreased profitability for wealth management firms.
One of the biggest challenges for firms when addressing the revenue and profit dilemma is to effectively leverage digital technology and the latest in cloud platforms to transform their businesses. For example, our research shows that 46.5% of wealth managers globally are not satisfied with the digital tools provided to them by their firms.
