Prior to the financial crisis, clients prioritized performance above all else when it came to their wealth managers. Now, according to PwC’s 2011 report “Anticipating a New Age in Wealth Management” released on Tuesday, client service and value is becoming more critical.
The 2011 report, which surveyed 275 institutions from 67 countries, found that the status quo is shifting: New competitors are displacing larger, more established firms and new regulations and client expectations are forcing private banks and wealth managers to change the way they operate. It is those firms and wealth managers who can shift with the changing tide that will be leaders in this new world.
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