We expect that the next generation of industry leaders will:
- Revamp operations to meet the growing competition among traditional rivals
- Confront the advances made by digital upstarts
- Take advantage of the ongoing generational wealth transfer
- Quickly learn to adapt to the growing client pushback on current value propositions
- Confront both the complexities and costs associated with the creation of new technology platforms needed as a foundation for the transformation.
In this paper, Bob McGraw, a principal in KPMG Financial Services Advisory practice, suggests that major U.S. wealth management firms must position themselves for a radically changed market in the near future. He advocates an integrated overhaul that requires top-down managerial commitment to bold new strategies and resolute follow-through. In support of this publication, KPMG developed a webcast, which includes thoughts and ideas from a host of industry professionals.Click here to view a replay of that webcast.