logo

What's the outlook for wealth management in 2022? Top 10 trends to watch for

What's the outlook for wealth management in 2021? Top 10 trends to watch for
by Kevyn Pitts - January 14, 2021,

By Richard Binder | January 14, 2021 at 07:53 AM

As the COVID-19 pandemic played havoc with the economic realities of 2020, businesses adapted as quickly as they could by moving to remote work, contactless payment options, and online lending. According to Aite Group’s top ten wealth management trends for 2022, firms should not think about saying goodbye to these changes just yet—and those that were slow to adjust may find themselves struggling to catch up.

“Despite the approval of vaccines in late 2021, the first half of 2022 is still expected to continue much like 2021 ended,” the report states, “with remote working, drastically reduced travel, and client interactions conducted almost exclusively on a virtual basis.

“Firms should not be fooled into thinking about changes in operating posture as mere temporary workarounds, as much of them, while slightly modified, will persist post-pandemic,” the report continues. ”Time is of the essence for wealth management firms to embrace the new normal and invest in staff and infrastructure in order to keep up with client behavior and faster-moving competitors.”

Among other trends, Aite Group’s researchers predict a rise in market consolidation and social selling, which the report says “is quickly becoming a critical area of expansion and point of differentiation for FIs [financial institutions] and financial advisors.”

See our slideshow for Aite Group’s top ten trends in wealth management, as well as highlights from the report.

SOURCE: benefitspro.com
MAIN IMAGE SOURCE: Click here

Author

  • Kevyn was Rory's first protege and has proved himself worthy of his title as a real estate expert through his years of working in the company. He makes sure we get the latest real estate updates and shares his insight to our readers on which investments they should keep an eye on.

MOST RECENT
Own a Rural Property? Here's How to Turn It into a Profitable Campsite 
Own a Rural Property? Here's How to Turn It into a Profitable Campsite 
Did you buy a piece of rural land in hopes of selling it or building a structure on it? Well, ...
How to Turn Your Vacant Commercial Property into a Successful Gym 
How to Turn Your Vacant Commercial Property into a Successful Gym 
Ever since the pandemic, commercial properties have had a hard time rebounding. With more people working from home and a ...
How to Write a Strong Lease Agreement in 5 Easy Steps
How to Write a Strong Lease Agreement in 5 Easy Steps
Are you a new landlord or a property manager tasked with drafting your first lease? This article has all the ...
Entrepreneur's Guide to Accounting and Finance
Entrepreneur's Guide to Accounting and Finance
Small business owners spend over one hundred hours every year working on their taxes alone. For businesses that are run ...
What Every Business Owner Should Have Set Before Starting Their Entrepreneurship
What Every Business Owner Should Have Set Before Starting Their Entrepreneurship
Starting a business can be an exciting venture that offers one both a new career path and self-fulfillment. Though it ...
1 2 3 31
logo
In Prudentialcal, we strive to make the most intricate financial issues and topics uncomplicated to grasp. We will be making sound analyses, intelligent finance recommendations, and honest communications in our features to assist you in building your finances and investments. 
Quicklinks
Additional Information
Copyright © 2022 Prudential Cal. All Rights Reserved.
DMCA.com Protection Status
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram