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Wealth Management Competitive Dynamics 2019
The global private wealth market had an off year in 2018, with a good profit result but contracting assets under management (AUM). While there was no change in the order of the world's five largest private wealth managers, there was more movement lower down the rankings as continued merger and acquisition activity boosted some players' AUM in a down year for most. Net inflows were down significantly from the bumper year of 2017 yet remained positive at all but a few troubled players. Revenue growth continued despite the contraction in AUM, which helped boost wealth profits despite a modest degradation of the cost/revenue ratio.
This report benchmarks the world's leading wealth managers by managed client assets and financial performance. All international public wealth managers with over $100bn in private client AUM are featured in the report, including standalone private banks and wealth managers as well as competitors that are part of larger universal financial groups.
- Even with AUM down 5.5%, UBS's position as the world's leading private bank was unchallenged.
- Client assets were down almost 1%, driven by negative market performance.
- Net inflows remained positive in aggregate but were down from 2017's exceptional performance.
- Cost/revenue ratios inched up as easy savings have already been made and few wealth mangers have managed to move to a lower cost base, despite heavy investment in digital.
Reasons to buy
- Benchmark your AUM and financial performance against the biggest players in the industry.
- Understand the challenges in growing client assets in different geographies.
- Learn about your competitors' strategies related to expanding client books.
- Find out how profitable the wealth management business is.
- Identify the industry's best practices in managing operating costs and boosting revenues.