Helping Asian Wealth Management Communities interact

Asian Wealth Management Forum 2019 SG - Highlights - Cara Williams

Cara Williams of Mercer

May 29, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

There are a number of opportunities as well as challenges in general for wealth management. If you think of wealth management as private banking and family office, and even as far as mass retail, the opportunity set is the digitalisation of advice. This can be seen potentially as a challenge, but I actually believe it's an opportunity. A better way to engage with clients of all generations. Other opportunities are the fact that a lot more families are becoming more aware of the importance of advice and starting to recognise the fact that there needs to a set of portfolio management and institutionalising their approach to how they do things. Challenges are, there are a number of players in this space, margins are tough, it's a hard business to run profitably. If you want to really provide your clients with the best services, that comes at a cost, so it's identifying the best ways to balance those two things.