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Wealth management

2011

The increase in managed assets underlines the appeal of the industry – although market recovery is still fragile.
Wealth management has regained momentum faster than some market observers were expecting. Even though uncertainty remains as to how the market may develop, the increase in managed assets underscores just how attractive the segment is. Yet, for many providers, margins are being eroded by price cuts and the increased complexity of services on offer. Measures to boost efficiency have only partly offset this trend.

In the current environment, providers should be concentrating on increasing earnings and cutting costs to bring their profitability back to pre-crisis levels. Offshore banking has been the subject of debate, but interest continues to focus on the established financial centers, including Switzerland, Luxembourg and Liechtenstein. A Roland Berger survey of 180 wealth management clients found that first-class advice and an international product range are key success factors.

Successful wealth managers put their clients – and their clients' values and expectations – at the heart of their service approach, aligning their advisory processes accordingly. Specifically, this can mean developing target client segments based on the values of particular client groups, managing the sales channels preferred by clients, and customizing pricing.

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