LONDON – Assets Under Management (AUM) at the top 25 global wealth management operators grew 17.0% on average this year, finds Scorpio Partnership’s 2018 Global Private Banking Benchmark. This means the top 25 operators now collectively manage USD16.2 trillion.
Just as a rising tide raises all boats, wealth managers were able to capitalize on favorable market conditions in 2017 as a core driver of growth. The FTSE All-World Index advanced nearly 22% during the year and global economic growth was estimated to have reached 3%, an uptick from 2.4% in 2016.
However, there were also positive indicators that firms achieved greater success in drawing additional assets from new and existing clients in 2017. On average, the contribution of Net New Money to AUM, which was flat in 2016, rose to 4.3% in 2017 for those firms who declared this data.
Figure 1: Top 25 private banks worldwide by assets
Here’s a great video interview of Tony Robbins and his 7 Simple Strategies for Financial Success
Lewis Howes with his School of Greatness did a great job of get the big man to spill the beans, keeping it real and down to earth. Nice Job. Check out Lewis Howes School of Greatness – He is formidable and his podcast is out of this world.
Here’s a link to Tony Robbins. Did you know that as a philanthropist, through his partnership with Feeding America, Mr. Robbins has provided over 325 million meals in the last 3 years to those in need. He is on track to provide a billion meals over the next 7 years. He has also initiated programs in more than 1
This is a terrific lookback article written in 2013 that should really give us some food for pause – thought and rethinking of the way Financial Advisors do business …..
so given that we know that “this time it’s different” is never actually true – surely advisors should look at changing their business models before the next inevitable downturn or sell-off.
“By 2020, non-fiduciary advisors — i.e., brokers — will be well on their way to complete extinction,” says Larry Miles, principal at AdvicePeriod in Los Angeles. “Consumers will have finally rejected advisors who are not legally obligated to do what is in their clients’ best interests.” ….
mmmm … interesting
Original article by Ilana Polyak, Special to CNBC.com – click here to see the original article
Just like death and taxes, financial advisors know that markets going
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