|By Marketwired .||
|July 4, 2014 09:25 AM EDT||
LONDON, ENGLAND -- (Marketwired) -- 07/04/14 -- The wealth management industry is acclimatising to a much-changed marketplace and assuming a more sustainable shape. Spearheaded by some of the sector's more innovative names, wealth management is an industry transformed, and one worthy of recognition in this year's World Finance Wealth Management Awards 2014.
Firms are becoming more selective about who they bring on board, assets under management are on the up, and technology is playing an increasingly important part in meeting client expectations and in negotiating regulatory pressures. These are just a few of the challenges facing wealth management firms, and only a handful of the qualities shared amongst the winners of World Finance's Wealth Management Awards.
Taking into account performance and achievements over the past 12 months, World Finance has selected the firms that have dealt with the difficult task of streamlining the traditional operating model, whilst at the same time improving client engagement and personal service. "Greater transparency on fee and performance is resulting in a fairly fundamental shift in client expectations, and therefore their wealth managers," says Daniel Diemers, Partner at Strategy&'s Financial Services practice in Europe and the Middle East.
The Wealth Management industry has also been enlivened by a number of new, technologically savvy firms. "The new players are also better at putting clients in control of their portfolios and helping clients co-create their propositions rather than being offered the standard two or three propositions. These new players are often able to offer better price points due to a more nimble and technology enabled operating model," says Sid Azad, Financial Services expert at the Strategy&'s London office.
For a look at the winners of 2014's Wealth Management Awards, see the July-August issue of World Finance, available online and in print now.