Changes that began to surface in the wealth management realm in 2008 are expected to be realized this year.
Aite Group offered that forecast in a new report, "Top 10 Wealth Management Trends in 2012." The Boston research firm said many of those trends impacting the industry this year will affect business models, profitability and investor requirements. As a result, credit unions and other financial institutions may have to quickly and frugally rethink the way they do business in order to be successful in a challenging market environment.
"For wealth management firms, 2012 is expected to be yet another year in which financial assets fail to show desired growth and investors have little appetite for risk-taking," said Alois Pirker, research director with Aite and co-author of the report.
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