Wealth industry missing out on $230bn opportunity in lower HNW and affluent segments

According to the latest Morgan Stanley and Oliver Wyman global wealth and asset management report, entitled Time to Evolve, for over a decade many wealth managers have put their growth focus on the ultra-high-net-worth and higher-net-worth segments and so have not prioritised less wealthy clients. Facilitated by the digital transformation, wealth managers can make financial advice and investments accessible to a more diverse client base at lower, differentiated costs, with clients being able to pick and choose their own personalised solutions. "The wealth industry is on the cusp of th...