The global market for wealth advice is poised for transformation and the appetite for wealth services is set to expand through the 2020s, according to a paper from EY Financial Services.
The firm's latest report, which examines the future models of wealth and private banking, said the new paradigms for advice will redefine client experiences while reducing cost to serve. According to the research, client expectations were expected to grow by more than 40% between 2020 and 2025. Demand for sophisticated products and services among affluent and high net worth clients was also expected to grow. The report suggested 75% of clients seeking financial education and training from their advisers are among the keenest digital adopters, making client needs more complex and the...
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