New Realities in Wealth Management: The Storm Passes, Growth Continues

Client assets at U.S. wealth managers increased by 17% to US$37.3 trillion in 2020. 

Boston, December 14, 2021  — The wealth management industry experienced seismic shifts during 2020 as incumbents merged and a surge of new investors entered the market. Two trends were driven in large part by the events of the COVID-19 pandemic: Social distancing drastically accelerated digital adoption, and new investors flush with stimulus cash flooded the market.

“A combination of shifting economics (fee erosion and low interest rates) and the increasing ubiquity of personalized services has forced wealth managers to reimagine their core value propositions and rethink which links in the value chain to own vs. outsource,” says Alois Pirker, Wealth Management Practice Director for Aite-Novarica Group.

This Impact Report analyzes changes to client assets, fee-based assets, advisors, productivity, and market share, and it discusses leading players in each group. It also examines major trends and the key drivers of change for each segment. This report is based on public regulatory filings, investor presentations, news articles, and other publicly available information. It also incorporates insights gleaned from interviews with firm executives throughout 2020.

To request a press copy of this report or to speak with Alois PirkerWilliam Whitt, and David Himmel ​​​​​about this topic, please contact us at [email protected].

About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:
Kaitlyn Labbe
Public Relations
+1.857.327.9442
[email protected]

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