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{{advert|date=August 2013}} {{citations needed|date=June 2022}}
{{Short description|Investment management and financial planning service}}
'''Wealth management''' as an ] discipline incorporates ], ] management and a number of aggregated financial services. ]s (HNWIs), ] owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate ], ], legal resources, tax professionals and investment management. Wealth managers can have backgrounds as independent ]s, ]s or ]s (in the USA), ]s (in Canada),<ref></ref> ]s (in the UK), or any credentialed (such as ]) professional money managers who work to enhance the income, growth and tax-favored treatment of long-term investors. One must already have accumulated some amount of wealth for wealth management strategies to be effective. Historically the entry bar was high, however recently due to innovations such as ]s, increased transparency in product design and more and more investors managing their own investments,<ref>{{cite web|last=Investopedia|title=Manage My own investment, are you kidding?|url=http://www.investopedia.com/articles/stocks/08/invest-on-your-own.asp}}</ref> this entry bar is coming down. However several firms offer this service to minimum investments of $1M<ref>{{cite web|title=Focus Wealth Management|url=http://focus-wealth.com/index.php/services/investment-management}}</ref> down to £100K<ref>{{cite web|last=Cotswold Financial Services|title=Private Client Wealth Management|url=http://www.ifaplanner.com/private-client-wealth-management/}}</ref>
{{Banking|banks}}'''Wealth management''' ('''WM''') or '''wealth management advisory''' ('''WMA''') is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from ] to ] (HNW) and ] (UHNW) individuals and families. It is a discipline which incorporates structuring and planning wealth to assist in growing, preserving, and protecting wealth, whilst passing it onto the family in a tax-efficient manner and in accordance with their wishes. Wealth management brings together tax planning, wealth protection, estate planning, succession planning, and family governance.


==Private wealth management== ==Private wealth management==
Private wealth management is sought by high-net-worth investors. Generally, this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging ] for large blocks of stock.
{{morefootnotes|section|date=February 2014}}
]
Private wealth delivered to high-net-worth investors. Generally this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging ] for large blocks of stock.
Traditionally, the wealthiest retail clients of investment firms demanded a greater level of service, product offering and sales personnel than that received by average clients. With an increase in the number of affluent investors in recent years,<ref>David Teather. . ''The Guardian''. 25 June 2008.</ref> there has been an increasing demand for sophisticated financial solutions and expertise throughout the world.

Traditionally, the wealthiest retail clients of investment firms demanded a greater level of service, product offering and sales personnel than that received by average clients. With an increase in the number of affluent investors in recent years,<ref>David Teather. . The Guardian. 25 June 2008.</ref> there has been an increasing demand for sophisticated financial solutions and expertise throughout the world.


The ] curriculum on private-wealth management indicates that two primary factors distinguish the issues facing individual investors from those facing institutions: The ] curriculum on private-wealth management indicates that two primary factors distinguish the issues facing individual investors from those facing institutions:


# Time horizons differ. Individuals face a finite life as compared to the theoretically/potentially infinite life of institutions. This fact requires strategies for transferring ]s at the end of an individual's life. These transfers are subject to laws and regulations that vary by locality and therefore the strategies available to address this situation vary. This is commonly known as accumulation and decumulation. # Time horizons differ. Individuals face a finite life as compared to the theoretically/potentially infinite life of institutions. This fact requires strategies for transferring ]s at the end of an individual's life. These transfers are subject to laws and regulations that vary by locality and therefore the strategies available to address this situation vary. This is commonly known as accumulation and decumulation.
# Individuals are more likely to face a variety of taxes on investment returns that vary by locality. Portfolio-management techniques that provide individuals with after ]s that meet their objectives must address such tax structures. # Individuals are more likely to face a variety of taxes on investment returns that vary by locality. ] techniques that provide individuals with after ]s that meet their objectives must address such taxes.


The term "wealth management" occurs at least as early as 1933.<ref>{{cite book | last = Fowler | first = William Franklin | title = Fishermen and fish: A sequel to For America, an interpretation and plan | url = https://books.google.com/books?id=J5vXAAAAMAAJ | access-date = 2013-01-30 | year = 1933 | publisher = W.F. Fowler | location = Lynbrook, N.Y | page = 38 | quote = To the inefficiency of political control of government, which is the principal cause of unsound conditions, they would grant the additional authority and responsibility of wealth management. }}</ref> It came into more general use in the elite retail (or "Private Client") divisions of firms such as ] or ] (before the ] merger of 1997), to distinguish those divisions' services from mass-market offerings, but has since spread throughout the financial-services industry. ]s that had formerly served just one family opened their doors to other families, and the term Multi-family office was coined. Accounting firms and investment advisory boutiques created multi-family offices as well.
The term "wealth management" occurs as at least as early as 1933.<ref>
{{cite book
| last = Fowler
| first = William Franklin
| title = Fishermen and fish: A sequel to For America, an interpretation and plan
| url = http://books.google.com/books?id=J5vXAAAAMAAJ
| accessdate = 2013-01-30
| year = 1933
| publisher = W.F. Fowler
| location = Lynbrook, N.Y
| page = 38
| quote = To the inefficiency of political control of government, which is the principal cause of unsound conditions, they would grant the additional authority and responsibility of wealth management.
}}
</ref>
It came into more general use in the elite retail (or "Private Client") divisions of firms such as ] or ] (before the ] merger of 1997), to distinguish those divisions' services from mass-market offerings, but since has spread throughout the financial-services industry.<ref>Family offices</ref> that had formerly served just one family opened their doors to other families, and the term Multi-family office was coined. Accounting firms and investment advisory boutiques created multi-family offices as well. Certain larger firms (], Morgan Stanley and ]) have "tiered" their platforms – with separate branch systems and advisor-training programs, distinguishing "Private Wealth Management" from "Wealth Management", with the latter term denoting the same type of services but with a lower degree of customization and delivered to ] clients. At Morgan Stanley, the "Private Wealth Management" retail division focuses on serving clients with greater than $20 million in investment assets while "Global Wealth Management" focuses on accounts smaller than $10 million.


Certain larger firms (], Morgan Stanley and ]) have "tiered" their platforms – with separate branch systems and advisor-training programs, distinguishing "Private Wealth Management" from "Wealth Management", with the latter term denoting the same type of services but with a lower degree of customization and delivered to ] clients. At Morgan Stanley, the "Private Wealth Management" retail division focuses on serving clients with greater than $20 million in investment assets while "Global Wealth Management" focuses on accounts smaller than $10 million.
In the late 1980s private banks and brokerage firms began to offer seminars and client events designed to showcase the expertise and capabilities of the sponsoring firm. Within a few years a new ] emerged – Family Office Exchange in 1990, the Institute for Private Investors in 1991, and CCC Alliance in 1995. These new entities aimed to educate the ultra-wealthy investor, offer an online community as well as a network of peers for ]s and their families. Their growth since the 1990s indicates a market eager to become more informed about private wealth management with total IT spending (for example) by the global wealth management industry predicted to reach $35bn by 2016, including heavy investment in digital channels.<ref>
</ref>


In the late 1980s, private banks and brokerage firms began to offer seminars and client events designed to showcase the expertise and capabilities of the sponsoring firm. Within a few years a new ] emerged – Family Office Exchange in 1990, the ] in 1991, and CCC Alliance in 1995. These companies aimed to offer an online community as well as a network of peers for ]s and their families. These entities have grown since the 1990s, with total IT spending (for example) by the global wealth management industry predicted to reach $35bn by 2016, including heavy investment in digital channels.<ref name=":0">
Several universities offer wealth-management education either for the professionals who advise private investors or private investors themselves who have substantial wealth. The standards and accrediting organization the ] (AAFN, later rebranded as the ] or IAFM) offered the first such program for professionals (the CWM Chartered Wealth Manager Program), followed by the ]. Since 1999 over 5000 people from over 100 countries have completed the IAFM CWM Wealth Manager program.<ref>
</ref> </ref>
At Wharton, the first curriculum designed exclusively for investors and family offices was offered in 1999. 730 investors from 39 countries have completed the five-day course.<ref>
</ref> The five-day program is offered twice a year and is a continuing partnership with the . The ] also offers a 5-day program. In 2009, ] offered a three day program on ] designed for high-net investors.


Wealth management can be provided by large corporate entities, independent financial advisers or multi-licensed portfolio managers who design services to focus on high-net-worth clients.<ref> Wealth management can be provided by large corporate entities, independent financial advisers or multi-licensed portfolio managers who design services to focus on high-net-worth clients. Large banks and large ] houses create segmentation marketing-strategies to sell both proprietary and non-proprietary products and services to investors designated as potential high-net-worth clients. Independent wealth-managers use their experience in estate planning, risk management, and their affiliations with tax and legal specialists, to manage the diverse holdings of high-net-worth clients. Banks and brokerage firms use advisory talent-pools to aggregate these same services.
, MyPrivateBanking Research</ref> Large banks and large ] houses create segmentation marketing-strategies to sell both proprietary and non-proprietary products and services to investors designated as potential high-net-worth clients. Independent wealth-managers use their experience in estate planning, risk management, and their affiliations with tax and legal specialists, to manage the diverse holdings of high-net-worth clients. Banks and brokerage firms use advisory talent-pools to aggregate these same services.


The ] of the late 2000s caused investors to address concerns within their portfolios.<ref>
The events of 2008 in the financial markets caused investors to address concerns within their portfolios. "The past 18 months have challenged traditional thinking about investing and asset allocation, diversification, and correlation. For individual investors, risk tolerances have been tested, investment assumptions have been overturned, and fundamental truisms have been questioned."<ref>
Yeh, C: "Investors Challenge Market 'Truths'", CFA Institute Private Wealth Management, August 2009. Yeh, C: "Investors Challenge Market 'Truths'", CFA Institute Private Wealth Management, August 2009.
</ref> For this reason wealth managers have been advised that clients have a greater need to understand, access, and communicate with advisers about their situation.<ref>
</ref> For this reason wealth managers must be prepared to respond to a greater need by clients to understand, access, and communicate with advisers regarding their current relationship as well as the products and services that may satisfy future needs. Moreover, advisors must have sufficient information, from objective sources, regarding all products and services owned by their clients to answer enquiries regarding performance and degree of risk - at the client, portfolio and individual-security levels. "This state of affairs poses a dilemma for wealth managers, who, for a generation, have adhered to the core principles of asset allocation and earned their keep by preaching the mantras of ']', 'invest for the long term', and when things get tough, 'stay the course'.”<ref>
Costa, L: "Questions Replace Investment 'Truths': A Comment", CFA Institute Private Wealth Management, May 2009. Costa, L: "Questions Replace Investment 'Truths': A Comment", CFA Institute Private Wealth Management, May 2009. Quote:"This state of affairs poses a dilemma for wealth managers, who, for a generation, have adhered to the core principles of asset allocation and earned their keep by preaching the mantras of ']', 'invest for the long term', and when things get tough, 'stay the course'."</ref>
</ref>


==Life goals==
Since 2009 many firms have promoted their adherence to the fiduciary standard in order to regain the trust lost during the financial crisis. In addition firms now publicly embrace the published by the CFA Institute. {{As of | 2013}} wealth-management advisors must have access to an objective content repository.{{citation needed|date=January 2013}} This repository must contain a current and readily available profile of the clients' holdings.{{citation needed|date=January 2013}}
{{anchor|Financial life management}}<!-- Merged per Misplaced Pages:Articles for deletion/Financial life management -->
As awareness of wealth management has become more common, some companies have shifted towards a model which asks clients about life goals,<ref>{{cite web |title=How can "goals-based" wealth management prepare me for different life stages? - Worth |url=https://www.worth.com/how-can-goals-based-wealth-management-prepare-me-for-different-life-stages/ |website=Worth}}</ref> working environments, and spending patterns as a way to increase communication.<ref name=nyt/> The industry-recognized wealth management was more than an investment advisory discipline.<ref>Welch, Scott, "Perspectives on Serving the Ultra-High-Net Space An Interview with Jean L.P. Brunel and Charlotte Beyer" IMCA Wealth Management Monitor, Jan/Feb 2016</ref>
In 2015, ] rebranded their wealth management services using the term "financial life management", which, according to the company, was intended to more clearly define the difference between wealth management companies and more affordable ]s.<ref>{{cite web| url=http://www.thinkadvisor.com/2015/03/25/united-capitals-duran-wealth-management-is-dead-lo|author = Gil Weinreich| title= United Capital's Duran: Wealth management is dead. Long live life management!|date = March 25, 2015|work=ThinkAdvisor|publisher= ]| access-date= September 17, 2015}}</ref> The same year ] began a program, Merrill Lynch Clear, which asks investors to describe life goals, and includes an educational program for clients' children.<ref name=nyt>{{cite news| url=https://www.nytimes.com/2015/03/21/your-money/financial-advisers-seek-to-inject-a-more-human-element.html|last= Sullivan|first=Paul| title= Financial advisers seek to inject a more human element|date = March 20, 2015|work= The New York Times| access-date= September 17, 2015}}</ref> For clients looking to leverage their wealth for the sake of achieving philanthropical and charitable goals, ] investments may be included.<ref>{{cite web |title=Wealth Management: The rise of social impact investing |date=11 January 2022 |url=https://ukfinancialservicesinsights.deloitte.com/post/102hg2x/wealth-management-the-rise-of-social-impact-investing |publisher=Deloitte |access-date=15 March 2023}}</ref>


== Private banking and wealth management rankings == == Private banking and wealth management rankings ==
Line 53: Line 36:
According to Euromoney's annual Private banking and wealth management ranking 2013, which consider (amongst other factors) ], net income and net new assets, global private banking assets under management grew just 10.8%YoY (compared with 16.7% ten years ago).<ref></ref> According to Euromoney's annual Private banking and wealth management ranking 2013, which consider (amongst other factors) ], net income and net new assets, global private banking assets under management grew just 10.8%YoY (compared with 16.7% ten years ago).<ref></ref>


The largest private banks and wealth managers in the world as of 2018 are as follows:<ref name="o719">{{cite web | title=Euromoney publishes 10th annual Global Private Banking Survey – UBS returns to the top | website=Euromoney | date=6 February 2013 | url=https://www.euromoney.com/article/b12kjwrh63789s/euromoney-publishes-10th-annual-global-private-banking-survey-ubs-returns-to-the-top | access-date=10 January 2025}}</ref>
"Best private banking services overall 2013". This table displays results of one category of the Private banking and wealth management ranking.
{| class="wikitable sortable"
<ref></ref>
{| class="wikitable"
|- |-
! Rank 2013 ! Rank
! Company ! Company
! Headquarter
! Rank 2012
! Assets under management
|- |-
| style="text-align:right" | 1
| 1
| ] | ]
| {{flag|Switzerland}}
| 2
| style="text-align:right" |$2,403 billion
|- |-
| style="text-align:right" | 2
| 2
|]
| ]
| {{flag|United States}}
| 1
| style="text-align:right" | $1,080 billion
|- |-
| style="text-align:right" | 3
| 3
| ] |]
| {{flag|United States}}
| 4
| style="text-align:right" | $1,045 billion
|- |-
| style="text-align:right" | 4
| 4
| ] |]
| {{flag|Switzerland}}
| 3
| style="text-align:right" | $792 billion
|- |-
| style="text-align:right" | 5
| 5
|]
| ]
| {{flag|United States}}
| 5
| style="text-align:right" | $526 billion
|- |-
| style="text-align:right" | 6
| 6
| ] |]
| {{flag|United States}}
| 6
| style="text-align:right" | $460 billion
|- |-
| style="text-align:right" | 7
| 7
|]
| ] Wealth Management
| {{flag|France}}
| 9
| style="text-align:right" | $436.7 billion
|- |-
| style="text-align:right" | 8
| 8
|]
| ]
| {{flag|United States}}
| 8
| style="text-align:right" | $394.3 billion
|- |-
| style="text-align:right" | 9
| 9
|]
| ]
| {{flag|Switzerland}}
| 7
| style="text-align:right" | $388.3 billion
|- |-
| style="text-align:right" | 10
| 10
| ] |]
| {{flag|China}}
| 11
| style="text-align:right" | $292.8 billion
|} |}


==See also==
UBS took the top spot in Euromoney's 2013 survey for "Best private banking services overall 2013."<ref></ref>
*]

* ]
'''World Wealth Report 2013'''
* ]

The 2013 World Wealth Report, released in June 2013, showed that despite the turbulence of the global economy, particularly in the Eurozone, both the population and wealth of global HNWIs reached significant new highs in 2012. Even though the year got off to a shaky start, HNWIs ultimately benefitted from strong market returns in spite of sluggish global GDP growth.<ref></ref> The report was widely welcomed as good news for the private wealth management sector.

The 2013 edition of the World Wealth Report also included the inuagural Capgemini, RBC Wealth Management and Global HNW Insights Survey. The survey represents one of the largest and most in-depth surveys of high net worth individuals ever conducted, surveying more than 4,400 HNWIs across 21 major wealth markets.

This survey-driven section of the report aimed to provide perspectives from the world's wealthy. Key findings included:

* In Q1, 2013, around 61% of HNWIs said they have trust and confidence in their wealth managers and firms, an increase of roughly four and three percentage points respectively, from 2012.<ref>World Wealth Report 2012, Figure 11</ref>
* 75.4% of HNWIs around the globe cited confidence in their ability to generate wealth over the next year.<ref>World Wealth Report 2013</ref>
* 52.6% of HNWIs gave their advisors and support staff a strong performance rating for service.<ref>World Wealth Report 2013</ref>


==References== ==References==
{{Reflist}} {{Reflist}}


== Further reading == ==Further reading==
*], {{cite web |title=Spear's Magazine |url=https://www.spearswms.com/ |website=]}}
* Beyer, Charlotte B. (2008). "A Retrospective and A Prospectus for the Future", ''The Journal of Wealth Management'', Winter 2008.
*{{cite book|last1=Harrington|first1=Brooke|title=Capital Without Borders: Wealth Managers and the One Percent|date=2016|publisher=]|location=Cambridge, Massachusetts|isbn=9780674743809|oclc=944339474}}


==External links== ==External links==
* *
{{Wealth}}
*
*


{{DEFAULTSORT:Wealth Management}} {{DEFAULTSORT:Wealth Management}}
]
] ]
] ]
]
]

Latest revision as of 08:44, 10 January 2025

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Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals and families. It is a discipline which incorporates structuring and planning wealth to assist in growing, preserving, and protecting wealth, whilst passing it onto the family in a tax-efficient manner and in accordance with their wishes. Wealth management brings together tax planning, wealth protection, estate planning, succession planning, and family governance.

Private wealth management

Private wealth management is sought by high-net-worth investors. Generally, this includes advice on the use of various estate planning vehicles, business-succession or stock-option planning, and the occasional use of hedging derivatives for large blocks of stock.

A wealth management consultation

Traditionally, the wealthiest retail clients of investment firms demanded a greater level of service, product offering and sales personnel than that received by average clients. With an increase in the number of affluent investors in recent years, there has been an increasing demand for sophisticated financial solutions and expertise throughout the world.

The CFA Institute curriculum on private-wealth management indicates that two primary factors distinguish the issues facing individual investors from those facing institutions:

  1. Time horizons differ. Individuals face a finite life as compared to the theoretically/potentially infinite life of institutions. This fact requires strategies for transferring assets at the end of an individual's life. These transfers are subject to laws and regulations that vary by locality and therefore the strategies available to address this situation vary. This is commonly known as accumulation and decumulation.
  2. Individuals are more likely to face a variety of taxes on investment returns that vary by locality. Portfolio investment techniques that provide individuals with after tax returns that meet their objectives must address such taxes.

The term "wealth management" occurs at least as early as 1933. It came into more general use in the elite retail (or "Private Client") divisions of firms such as Goldman Sachs or Morgan Stanley (before the Dean Witter Reynolds merger of 1997), to distinguish those divisions' services from mass-market offerings, but has since spread throughout the financial-services industry. Family offices that had formerly served just one family opened their doors to other families, and the term Multi-family office was coined. Accounting firms and investment advisory boutiques created multi-family offices as well.

Certain larger firms (UBS, Morgan Stanley and Merrill Lynch) have "tiered" their platforms – with separate branch systems and advisor-training programs, distinguishing "Private Wealth Management" from "Wealth Management", with the latter term denoting the same type of services but with a lower degree of customization and delivered to mass affluent clients. At Morgan Stanley, the "Private Wealth Management" retail division focuses on serving clients with greater than $20 million in investment assets while "Global Wealth Management" focuses on accounts smaller than $10 million.

In the late 1980s, private banks and brokerage firms began to offer seminars and client events designed to showcase the expertise and capabilities of the sponsoring firm. Within a few years a new business model emerged – Family Office Exchange in 1990, the Institute for Private Investors in 1991, and CCC Alliance in 1995. These companies aimed to offer an online community as well as a network of peers for ultra high-net-worth individuals and their families. These entities have grown since the 1990s, with total IT spending (for example) by the global wealth management industry predicted to reach $35bn by 2016, including heavy investment in digital channels.

Wealth management can be provided by large corporate entities, independent financial advisers or multi-licensed portfolio managers who design services to focus on high-net-worth clients. Large banks and large brokerage houses create segmentation marketing-strategies to sell both proprietary and non-proprietary products and services to investors designated as potential high-net-worth clients. Independent wealth-managers use their experience in estate planning, risk management, and their affiliations with tax and legal specialists, to manage the diverse holdings of high-net-worth clients. Banks and brokerage firms use advisory talent-pools to aggregate these same services.

The Great Recession of the late 2000s caused investors to address concerns within their portfolios. For this reason wealth managers have been advised that clients have a greater need to understand, access, and communicate with advisers about their situation.

Life goals

As awareness of wealth management has become more common, some companies have shifted towards a model which asks clients about life goals, working environments, and spending patterns as a way to increase communication. The industry-recognized wealth management was more than an investment advisory discipline. In 2015, United Capital rebranded their wealth management services using the term "financial life management", which, according to the company, was intended to more clearly define the difference between wealth management companies and more affordable brokerage firms. The same year Merrill Lynch began a program, Merrill Lynch Clear, which asks investors to describe life goals, and includes an educational program for clients' children. For clients looking to leverage their wealth for the sake of achieving philanthropical and charitable goals, social finance investments may be included.

Private banking and wealth management rankings

According to Euromoney's annual Private banking and wealth management ranking 2013, which consider (amongst other factors) assets under management, net income and net new assets, global private banking assets under management grew just 10.8%YoY (compared with 16.7% ten years ago).

The largest private banks and wealth managers in the world as of 2018 are as follows:

Rank Company Headquarter Assets under management
1 UBS   Switzerland $2,403 billion
2 Bank of America Merrill Lynch  United States $1,080 billion
3 Morgan Stanley  United States $1,045 billion
4 Credit Suisse   Switzerland $792 billion
5 J.P.Morgan Private Bank  United States $526 billion
6 Citi Private Bank  United States $460 billion
7 BNP Paribas  France $436.7 billion
8 Goldman Sachs  United States $394.3 billion
9 Julius Baer   Switzerland $388.3 billion
10 China Merchants Bank  China $292.8 billion

See also

References

  1. David Teather. Richlists. The Guardian. 25 June 2008.
  2. Fowler, William Franklin (1933). Fishermen and fish: A sequel to For America, an interpretation and plan. Lynbrook, N.Y: W.F. Fowler. p. 38. Retrieved 2013-01-30. To the inefficiency of political control of government, which is the principal cause of unsound conditions, they would grant the additional authority and responsibility of wealth management.
  3. Wealth Management Technology Spending Through 2016 (July 2012)
  4. Yeh, C: "Investors Challenge Market 'Truths'", CFA Institute Private Wealth Management, August 2009.
  5. Costa, L: "Questions Replace Investment 'Truths': A Comment", CFA Institute Private Wealth Management, May 2009. Quote:"This state of affairs poses a dilemma for wealth managers, who, for a generation, have adhered to the core principles of asset allocation and earned their keep by preaching the mantras of 'buy and hold', 'invest for the long term', and when things get tough, 'stay the course'."
  6. "How can "goals-based" wealth management prepare me for different life stages? - Worth". Worth.
  7. ^ Sullivan, Paul (March 20, 2015). "Financial advisers seek to inject a more human element". The New York Times. Retrieved September 17, 2015.
  8. Welch, Scott, "Perspectives on Serving the Ultra-High-Net Space An Interview with Jean L.P. Brunel and Charlotte Beyer" IMCA Wealth Management Monitor, Jan/Feb 2016
  9. Gil Weinreich (March 25, 2015). "United Capital's Duran: Wealth management is dead. Long live life management!". ThinkAdvisor. ALM. Retrieved September 17, 2015.
  10. "Wealth Management: The rise of social impact investing". Deloitte. 11 January 2022. Retrieved 15 March 2023.
  11. Annual private banking industry assets under management
  12. "Euromoney publishes 10th annual Global Private Banking Survey – UBS returns to the top". Euromoney. 6 February 2013. Retrieved 10 January 2025.

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