Trends in GCC Wealth Management

Executive Summary

In the GCC wealth management industry, answer to the question “What Next?”, is likely to be technology and robo advisory, with product and service offerings tailored to meet evolving expectations of millennial investors. Wealth management space is undergoing some major disruption and significant changes are already underway. The industry is witnessing a massive wealth transfer to millennials reshaping client-investor relationships.  The new generation of wealth management clients have different attitudes and expectations towards the nature of advice provided by wealth managers. Furthermore, digital technology is acting as catalyst to this disruption with emergence of Artificial intelligence and robo-advisory.

Key Discussion Points

• Looming Hybrid-advisory model
• Expectations from GCC millennials
• Focus on Environmental, Social and Governance (ESG)
• Multi-asset class preference

Did you know?

• Barclays estimates that USD 7.5 trillion wealth will be transferred globally between generations within next 3 decades.
• Financial wealth in GCC is expected to grow from USD 2.7 trillion in 2021 to USD 3.5 trillion in 2026, registering a CAGR of 5.2%.
• Kuwait’s AuM in the robo-advisory market is expected to show an annual growth rate of 19.12% resulting in a projected total amount of US$1,069.00m by 2027
• In 2021, 41% of the regional investors wished to adopt ESG investment policy in the GCC region.
• 53% of the GCC clients are emphasize on tech-savviness..

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