World Wealth Report 2024 - Capgemini Portugal

Intelligent strategies for winning with the ultra-wealthy: Bridge wealth management and family office strengths to fuel growth

Today’s global wealth management landscape is more challenging than ever: even as high-net-worth individual (HNWI) prosperity rebounds, geopolitical uncertainties, market volatility, and a fiercely competitive environment are putting pressure on global wealth and investment management industry profits.

The World Wealth Report 2024 reflects the views of 3,119 high-net-worth individuals, including 1,300+ ultra-high-net-worth individuals (UHNWI); 75 executives from pure wealth management (WM) firms, universal banks, broker/dealers, and family offices; and along with survey responses from 750+ relationship managers across North America, Europe, and Asia-Pacific. Key findings include:

Rebounding markets and a brighter outlook lifted 2023 global HNWI wealth by 4.7%,1 and HNWI population numbers increased by 5.1%.2 While growth was seen across all wealth bands, the ultra-HNWI segment (investors with USD 30 million+) enjoyed the most robust recovery in dollar terms.
By integrating behavioral finance with artificial intelligence, global wealth management firms can better recognize and address HNWI client needs; and Gen AI can aid hyper-personalization of relationship manager/client experiences and communications.
Traditional global wealth management firms must balance competition and collaboration with family offices to scale up engagement with ultra-high-net-worth individuals: a collaborative ecosystem of partners to create a one-stop shop is key to success with this complex and lucrative client segment.

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World Wealth Report 2024 highlights

New wealth management strategies for high-net-worth individuals

Strategic and future-focused wealth management firms need to set their sights on retaining and winning ultra-high-net-worth individual clients’ mind share to boost their wallet share. But where should they begin?

Ignite engagement with high-net-worth individuals as market trends evolve during high instability.
Turbocharge AI-powered behavioral finance to enhance personalization and customer relationships.
Focus on the highly concentrated and profitable ultra-high-net-worth individuals segment, and strike the right balance between competition and collaboration with family offices.