PRIVATE BANKING AND WEALTH MANAGEMENT BETWEEN OPPORTUNITIES AND THREATS

Abstract

Opportunities for banks in the sphere of private banking & wealth management have been continuously multiplying under the influence of the rapid accumulation and concentration of capital on a global scale and the predicted colossal transfer of wealth between generations. Yet, in order to consolidate their leading position in the industry in today’s complex, dynamic and turbulent environment, banks need to adopt totally different solutions and overcome a number of barriers. Their response to the challenges posed by the ‘invasion’ of new players on the market and to the urgent need to change the profile of financial advisors is of paramount importance.