A loss of confidence among wealthy clients and a lack of efficiency in banking business models has hit the global wealth management industry. The good news is that there is $10 trillion in high-net-worth bankable assets that haven’t been tapped, according to Scorpio Partnership’s 2010 Global Private Banking study, which was released Thursday.
“Capturing these assets is the real answer for industry recovery,” the study, which tracked 230 wealth management institutions, reported.
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