5 Business Imperatives for Successful Wealth Management Firms
Asset management firms recorded average profitability of 28% through 2010 and the first half of 2011, according to a new McKinsey report, and independent asset managers will control two-thirds of all assets under management by 2015.
But firms need to make a few adjustments to attain above-average, sustainable growth. And before they can achieve that, they need convictions, based on solid foundations, to make the necessary investments in their firms. To be among the leaders in 2015, individual firms must make explicit choices on how to take advantage of a narrow set of large growth opportunities and invest decisively behind them.
Here's an interactive slideshow detailing five business imperatives successful wealth management firms will need to heed over the next three years.