Most people in this segment have half of their assets stored in cash or savings accounts.

The affluent market, as defined by households with investable financial assets under $1 million, represents a fresh and scalable source of growth for WM over the coming decade, with a customer base representing 27% of all revenue while only accounting for 17% of the total assets under management (AUM). Smart transformation to propel digital wealth management into the new era The ongoing Covid-19 pandemic will accelerate momentum for wealth firms to enhance digital touchpoints as foot traffic plummets. The report, titled “Global Digital Wealth Management Report 2019-2020” and authored by Boston Consulting Group (BCG), recommends that incumbent asset management companies, which mainly rely on offline business, can cooperate with fintech companies to revitalise old brands to meet clients’ demand for smarter services. In the new era of smart transformation, financial technology (fintech) companies are evolving from market disrupters to enablers and partners of traditional wealth mangers, helping to realise the growth potential of the entire wealth management (WM) market, according to a new report commissioned by Lufax, an internet-based wealth management and consumer finance platform. Lufax customer profiling system enables real-time identification of customer intentions a possibility.China’s wealth management sector acquiring capabilities WMs need to win.Smart technology would bring real value to WMs leading to huge growth for the entire WM market.Please get in touch with Sue Kim at for further clarifications. Changes are made based on our coordination with the local industry players. In view of the coronavirus disease (COVID-19) outbreak, all event schedules have been moved to a time when we reasonably expect the crisis to be contained.Ĭheck our website for the new dates.

Bcg digital wealth report