Wealth and investment management is an ever-evolving field. With Europe and the UK in the midst of a post-Brexit transition, new regulations and economic shifts are challenging the traditional systems and frameworks of wealth and investment management. And in the US, the rise of technology has enabled new firms and advisors to offer innovative services and products to their clients. In this article, we'll explore how wealth and investment management is changing in the 21st century and the opportunities it presents.
BNY Mellon investment Management has been a leader in the industry for years and continues to be a major player in the wealth and investment space. With offices in the US and Europe, BNY Mellon provides a wide range of services, from asset management to custody. Additionally, the firm offers a suite of products, such as Brandywine Global investment Management, a portfolio of actively managed strategies focusing on global equities, bonds, and multi-asset strategies.
In the US, the emergence of technology-driven wealth and investment management firms has opened the door to new opportunities. For example, Andrae Bailey, a former Goldman Sachs executive, recently launched Collective Wealth Partners, an Atlanta-based registered investment advisory firm that focuses on creating wealth for Black and Latinx families. Bailey and his team use technology to bring innovative products and services to their clients, such as automated financial planning and digital asset management.
Furthermore, the US has seen a surge in the number of women-led wealth management firms. Alleson Tate, the founder of Avere Wealth Management, a registered investment advisory firm in Atlanta, is an example of a successful female entrepreneur who offers tailored financial advice and investment management services to her clients. Tate is an advocate for female investors and has partnered with other women-led firms to form a network of advisors who are committed to helping women build wealth.
At the same time, the industry has seen a push towards more holistic wealth management services. In response to this trend, many firms, such as UBS and Morgan Stanley, have expanded their services to include estate planning and tax advice. According to Julia Hobart, partner in the wealth and asset management practice at Oliver Wyman, “In reality it doesn't move the dial.”
The rise of technology is also transforming the wealth management industry in other parts of the world. In China, Puhui Wealth investment Management Co., Ltd. (NASDAQ: PHCF) is a third-party wealth management platform that offers a range of services, from asset management to investment advisory. The company also provides digital financial products and services to its customers.
Research also indicates that the scope of wealth management software is expanding to include more services, such as accounting and investment management to estate planning and tax advice. This trend has been driven by the rise of more complex products, such as robo-advisors, that offer automated services to investors.
Finally, the industry has seen an influx of new professionals, such as Vanessa Okwuraiwe of Edward Jones, Brian Portnoy of Shaping Wealth, Abigail Johnson of Fidelity investment, and Penny Phillips of Journey Strategic Wealth. These new advisors are using technology to bring innovative products and services to their clients and are helping to shape the future of the industry.
