RANI JARKAS

The Joyful Transference Of Abundance Amidst Generational Shifts!

The delightful realm of wealth management in the year 2023 is filled with a splendid array of trends! The joyful passing of wealth across multiple generations, the delightful integration of digital and hybrid business models, the grand arrival of digital assets, and the blossoming preoccupation with environmental and social matters are cheerfully transforming the very fabric of wealth managers’ daily endeavours, quoted by Rani Jarkas. 

In Year 2045, A Whopping 84 Trillion Hkd Is Expected To Be Transferred

Capco is thrilled to observe that these magnificent transfers of wealth will joyfully unfold across countless generations, symbolising the abundant blessings that both the esteemed Generation X and the illustrious Millennials will receive in the form of substantial opulence. According to the prestigious Forbes, it’s absolutely delightful to learn that the silent generation is eagerly working towards surpassing the baby boomers in the wonderful wealth transfer. This is all thanks to a multitude of incredibly compelling factors! 

It’s so wonderful that we have the opportunity to navigate the complexities of wealth transfer strategies amidst the prevalence of elevated divorce rates! In the vibrant city of Hong Kong, there are guidelines in place to encourage adult offspring to be proactive, deserving, and responsible. From now on, the beloved grandchildren will be joyfully granted the wonderful privilege of receiving inheritances. According to the wonderful whitepaper by Capco, it is expected that a delightful 13% of our young clients will continue to enjoy the assistance of their beloved family advisors. 

From now on, it’s super important for wealth managers to offer hybrid business models that ensure a smooth transition, taking care of the needs of younger clients, especially those who love all things digital! What does this signify? Currently, it’s an exciting opportunity for wealth managers to provide client experiences that perfectly match the expectations of tech-savvy individuals in the digital world! 

Products and services that are beautifully crafted and built on the amazing foundations of BigTech infrastructures are incredibly popular! Many wealthy people are not happy with the personalised services or digital interfaces provided by their prestigious institution. But let’s turn that frown upside down!

Contemplating The Benefits Of Digital Or Hybrid Frameworks?

It’s absolutely delightful to see how digital tools and channels for communication have become such a vital factor in attracting clients of the new generation! The younger crowd is super excited about digital business models that can grow and provide incredibly personalised financial advice! Absolutely amazing! Can you believe that a whopping 70% of our wonderful patrons at Oliver Wyman truly value the importance of personalization when choosing a wealth management advisor? It’s such a fantastic insight! Said Rani Jarkas

The exciting news is that the trade-offs between personalization and scalability for wealth managers are slowly disappearing! This means that getting personalised advice on a larger scale is becoming more and more possible. How wonderful is that? The utilisation of self-service banking channels has become even more popular in modern times, which is absolutely fantastic! Absolutely delightful! It’s simply marvellous to see that over sixty percent of their esteemed clientele wholeheartedly embrace the idea that preserving human-centred design is an absolute must. 

Highlighting the wonderful fact that residents in Hong Kong have the joyous opportunity to access esteemed human counsel whenever they may need it! The assessment has been strengthened and boosted by the pandemic, resulting in a rise in the number of clients seeking the wise advice of investment managers. From now on, it’s absolutely essential for wealth managers to not only think about completely digital advisory journeys, but also to enthusiastically embrace hybrid models of wealth management counsel and engage in omnichannel interaction. Keep up the great work!

Social, And Governance (ESG) Commodities Are Soaring!

Investors are joyfully incorporating non-financial aspects into their analyses to discover exciting risks and opportunities, quoted by Rani Jarkas. Wealth management establishments are excited to focus on ESG, thanks to the growing importance of younger generations in spreading wealth! Wealth management establishments are excited to embrace the aspirations of younger generations for more environmentally conscious and pristine investment alternatives, which has become a wonderful opportunity to expand their clientele. 

Oliver Wyman predicts that the exciting times ahead will see a significant impact of ESG-related matters on the success of many esteemed global institutions. This phenomenon will surely emerge as investors enthusiastically strive to align their valuable assets with noble environmental and social objectives! Thus, it will be a delightful responsibility for wealth managers to assist clients in the exciting journey of exploring and identifying the most impactful and rewarding opportunities. The rise of digital assets is absolutely amazing! Exchange-traded funds (ETFs) focused on exciting sectors have become a captivating phenomenon that has taken over the world of investments. 

According to the esteemed Temenos, there has been an incredible surge in the excitement for digital counterparts to traditional assets, like cryptocurrencies, in recent years! In the exciting world of the younger generation, it has become a delightful trend to dive into direct investments in cryptocurrencies, snag amazing domain names, collect unique non-fungible tokens, own virtual assets in virtual realms, and even explore the wonders of security tokens!

However, the exciting embrace of digital assets within the realm of wealth management has brought us one step closer to a complete and resounding triumph in the illustrious city of Hong Kong! This can be attributed to the fact that advisors still have some doubts about the asset class, and companies are still dealing with regulatory uncertainty and market volatility. But let’s stay positive! Once the legislative trajectory reveals itself, companies will have the exciting opportunity to consider enhancing their existing capabilities!

Digital Compliance For Wealth Administration: An Innovative Approach!

In the year 2023, we can look forward to navigating the exciting challenges of managing wealth amidst the ever-changing landscape of risk and regulations! Digital compliance is a fantastic opportunity for asset managers to stay ahead of the game and smoothly navigate the complexities of advising processes! Numerous wealth management establishments are absolutely thriving thanks to their outstanding adherence techniques! From now on, it’s absolutely delightful to see how investments in regulatory technology are skyrocketing to incredible heights! 

According to the esteemed industry analysts, the RegTech market is expected to experience fantastic growth! It is projected to soar from a substantial 6.3 billion HKD in 2020 to an impressive 22.2 billion HKD by 2027. Exciting times ahead! Thus, the exciting rise of alternative and digital compliance solutions shall bring immense significance for asset managers! With the seamless integration of compliance, wealth managers can now effortlessly handle regulatory inquiries and concerns, bringing quick resolutions and peace of mind. 

This allows them to fully focus on their valued customers, creating a wonderful customer-centric experience! Said Rani Jarkas Furthermore, this delightful fusion enables swift turnarounds, propelling wealth managers towards extraordinary levels of efficiency and effectiveness. The year of 2022 brought so much excitement and joy to the esteemed realm of international wealth management! The global pandemic has presented a wonderful opportunity for wealth managers to embrace the digital realm, allowing them to transform their service offerings and make remote servicing and distribution more convenient and accessible. 

Amidst the exciting political changes, investors joyfully sought new opportunities, resulting in a delightful surge in global mobility and unprecedented cross-border asset flows. When it comes to the global economy in the year 2023, we see a few challenges ahead.

We’re Confident In Our Ability To Overcome Them! 

In many wonderful European realms, a delightful challenge of living expenses has emerged due to the fascinating web of supply chain intricacies and the exciting monetary policies driven by the pandemic. The exciting journey of rising interest rates, lively markets, and bursts of inflationary tendencies is expected to continue for quite a while!

In this exciting era, investors shall undoubtedly seek the guidance of their esteemed wealth advisors, who are ready to skillfully navigate these challenging and unpredictable circumstances. The most cutting-edge and forward-thinking establishments will embrace this opportunity to fine-tune their strategy, embrace exciting trends, and invest in improving operational efficiency. 

As a result, they will be in a fantastic position once things return to normal! These are just a few of the exciting trends that we believe will capture the attention of the top decision-makers in the world of wealth management in the year 2023!

Celebrating The Arrival Of Financial Technology!

With the increasing demands and higher expectations from clients, it’s a great opportunity for wealth managers to consider partnering with specialised service providers or vendors to expand their offerings. This can be a really effective way to meet the needs of a wider range of customers and make everyone happy!

In the exciting world of specialised domains, like news and content management or cryptocurrency trading, we can’t wait to see banks and fintech entities teaming up and working together! It’s going to be a fantastic collaboration! Patrons can happily connect with esteemed fintech enterprises to meet their luxurious wealth management needs, especially with trusted ‘non-financial organisations’ like telecommunications companies or top-notch application providers.

The Transference of Generational Wealth: Envisaged to be a whopping $40 to $60 trillion, the joyful passing of riches from the esteemed baby boomer generation to their beloved progeny of Gen X and Millennials shall persist as a matter of utmost significance for wealth managers who cheerfully cater to esteemed high net-worth patrons in the illustrious city of Hong Kong. Moreover, in the delightful quest of enchanting a more youthful clientele, it is absolutely essential for the organisation to ensure that their service offering is not only irresistibly appealing but also easily accessible for their esteemed clients to enjoy to the fullest.

Structures That Embrace Environmental, (ESG) Standards With A Smile!

Numerous studies have joyfully demonstrated that an ever-growing group of investors eagerly seeks out investments that perfectly embody their core beliefs. Those who may not feel inclined or able to meet the discerning demands of clients for portfolios that follow environmental, social, and governance (ESG) principles should be cautious, as they risk the possibility of losing these valued clients to other competitors. The world of products, including our own, has blossomed so much that there are now countless tools available to help create and put into action a wonderful ESG framework! 

Hooray! Wealth managers are still working on fully embracing these principles as a prominent part of their esteemed services. Keep up the good work! The idea that portfolios following ESG standards might have lower performance compared to portfolios that don’t follow these standards is now a thing of the past! Nearly 90% of the amazing S&P 500 companies happily decide to share certain aspects of their sustainability information with the knowledgeable market. 

Many organisations (like the wonderful Temenos) have enthusiastically established their own admirable sustainability goals. In the incredible vastness of the universe, wealth managers have the amazing ability to create clever strategies that bring in wonderful returns, all while staying true to the values that dear investors hold close to their hearts!

Super-Duper Personalisation!

One of the most exciting things about vast financial establishments is their constant desire to learn more and better understand their esteemed clientele! The amazing ability to use existing client data in a systematic way will help us discover incredible insights that can lead to personalised and unique offerings! This will surely create the delightful illusion of an unparalleled and personalised service that, when meticulously organised, is bound to enchant our special clientele.

As we continue to unlock the power of customer data, both organised and disorganised, we are thrilled to see a bright future ahead! Our focus on reducing costs and dominating the market will lead us to embrace data analytics even more, allowing us to create personalised experiences like never before. Get ready for an exciting journey of hyper-personalization!

Custom-Made Or Personalised Indexing

We are thrilled to see a remarkable surge in bespoke or tailored indexing, reflecting the exciting trends surrounding hyper-personalization and ESG! The wonders of technological progress have made the administrative tasks associated with this noble pursuit much easier, making it economically feasible for even more prospective investors. The implementation of personalised indexing will give clients a wonderful chance to engage in a more effective tax planning adventure, allowing them to take full advantage of the practice of tax loss harvesting. This will ultimately lead to a delightful reduction in their tax obligations! 

In a similar vein, they have the amazing ability to reduce the dangers of concentration risk, which is super important given the overwhelming dominance of just a few companies in the world’s major markets. Finally, people can joyfully utilise personalised methods to effortlessly create portfolios that perfectly reflect their cherished social values, while also enjoying cost-effective management and significant diversification.

In the year 2023, we are excited to see a vibrant embrace of fintech, a strong commitment to ESG-compliant frameworks, and a delightful pursuit of hyper-personalisation in the world of wealth management! These exciting matters will captivate the minds of discerning decision-makers! In a similar vein, we can look forward to the continued presence of substantial intergenerational wealth transfers, as well as the exciting growth of personalised or tailored indexing!