The European wealth management industry is going through a paradigm shift. Investors are embracing environment, social, and governance (ESG) investing on a massive scale. According to PwC, Europeandomiciled ESG assets are poised to reach a value between €9 trillion by 2025. Traditionally not a part of wealth management, recent global occurrences like the pandemic and climate change have compelled wealth managers to highlight the importance of sustainable wealth management.
Millennials and GenZ are set to be the largest asset holders globally, and this is a major factor for the rising ESG investments. Studies by Forrester show that more than half UK’s sustainable investors are below 50 years of age, attesting to the aforementioned fact. Furthermore, the continent houses the world’s second-largest population of high-net-worth individuals, predominantly spread across the UK, Switzerland, and France. The younger generation’s push toward sustainable investing combined with the ESG asset’s resiliency towards the bear market has compelled wealth managers to increasingly offer ESG products that fit their customer’s visions. By adopting the latest technologies and adhering to transparent and best practices, wealth management firms can help their clients build a strong ESG strategy that ensures profitability.
This edition of the Financial Services Review brings forth the top wealth management service companies in Europe 2023. It also features PandaConnect, a company that facilitates timely, correct, and complete portfolio overviews through its services to help clients make better investment decisions.
Furthermore, the magazine highlights thought leadership articles on the latest trends in the wealth management industry from Tomasz Serwan, Investment Director, CVC, Alior Bank SA, and Nikolay Stoichkov, Head of the Strategic Risk Management Unit, First Investment Bank.
We hope this edition will provide you with the right assistance in choosing the best-in-class wealth and asset management services and solutions for your business requirements.
Let us know your thoughts.
