Global Private Wealth Management Market Outlook

USD 300

Global Private Wealth Management Market Outlook 2023 examines the emerging trends and prospects in the global private wealth landscape for 2023. The Asian Banker reached out to wealth management practitioners and high-ranking regulators to discuss the significant growth observed despite the COVID-19 pandemic

This report explores the impact of geopolitical uncertainties and how increasing geopolitical risks have triggered the largest wealth migration in history. By visiting Singapore, Hong Kong, and Dubai—the three most popular destinations striving to become the next global wealth hubs—we delve into their unique strengths and recent efforts to attract global wealth.

The report delves deeper into Chinese wealth management, the second-largest wealth management market in the world. Our report predicts a strong rebound of the Chinese economy and identifies opportunities for the wealth management industry, both locally and abroad, presented by the reopening of borders

The report evaluates the extent to which impact investing and philanthropic services are part of the wealth considerations of high-net-worth individuals (HNWI), as well as China's efforts to institutionalize those services

Publication Date:

April 2022

Delivery:

The file is directly delivered to your account upon receipt of online payment. The file contains one document, a 40-page PDF report.

The report includes:

1.Global private wealth growth prospects in 2023

2.Dawn of family offices and trusts

3.Next-gen wealth defined by sustainability and ESG

4.The greatest migration of private wealth in history

5.Wealth hubs in the quest for supremacy: Singapore, Hong Kong, and Dubai

6.Outlook for China's private wealth in the era of COVID-19 reopening

7.Common Prosperity policy and carbon neutrality goals set a new stage in advisory services, philanthropy, and sustainability.

This report answers:

1. What are the key global trends and developments in the wealth management industry in 2022 and beyond?

2. How do wealth managers upgrade their advisory services, including next-gen and philanthropic planning, in response to the latest developments?

3. What is the outlook for China's wealth management industry following its COVID-19 reopening?

1. Global private wealth growth prospects in 2023

  • 1.1 Strong headwinds after uninterrupted growth throughout COVID-19 years
  • 1.2 Geopolitical uncertainties trigger wealth migration
  • 1.3 Dawn of the family offices and trusts
  • 1.4 Next-gen wealth defined by sustainability and ESG

Case study 1: Financial institutions’ capabilities for highly sought -after family trust services to be tested

2. Greatest migration of private wealth in history  

  • 2.1 Strong headwinds after uninterrupted growth throughout COVID-19 years
  • 2.2 Geopolitical uncertainties trigger wealth migration
  • 2.3 Dawn of the family offices and trusts
    • Singapore: Boom in family offices
    • Hong Kong: Silver linings after border reopening
    • Interview with Joseph HL Chan, Undersecretary for Financial Services and the Treasury, Hong Kong SAR
    • Dubai: Eyeing global wealth influx
    • Interview with Salmaan Jaffery, Chief Business Development Officer at DIFC

3. Wealth management for the next-gen

  • 3.1 Keep it in the family: Accelerated succession planning
  • 3.2 Wealth for good: An existential necessity
  • 3.3 Making private wealth deployment more efficient

Case study 2: Family advisory service model helps achieve long-term and sustainable growth and steady inheritance of family wealth

4.Outlook for China’s private wealth

  • 4.1 China's total wealth is predicted to surpass $100 trillion in 2025, ranking second in the world
  • 4.2 Record-high savings are searching for new onshore and offshore investment opportunities after China's reopening
  • 4.3 Common Prosperity policy and carbon neutrality goals set new stage in areas such as advisory services, philanthropy and sustainability
    • Offshore wealth allocation picks up speed
    • Heightened need for advisory services
    • More awareness of sustainability 
  • Banks with dedicated wealth management divisions
  • Asset management firms
  • Private banks catering to high-net-worth individuals and families
  • Family offices that manage the wealth of affluent families and provide comprehensive wealth management services, including single-family offices and multi-family offices.
  • Insurance companies offering wealth management solutions and products
  • Independent financial advisory firms and consultants providing wealth management guidance and services.
  • Wealth management technology providers specialising in technology solutions for wealth management platforms, including digital advisors and portfolio management systems.
  • Trust companies specializing in fiduciary services, including wealth management, estate planning, and trust administration.
  • High-Net-Worth Individuals (HNWIs) with substantial personal wealth who actively engage in wealth management and investment decisions.
  • Regulatory and government bodies responsible for overseeing and regulating the wealth management industry.

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