Canadian wealth set to rise by $2 trillion by 2026 amid international surge
‘International Wealth 2022: Standing Nonetheless Is Not an Choice’ from Boston Consulting Group (BCG) additionally predicts that $80 trillion in new wealth might be created over the subsequent 5 years, together with nearly $2 trillion in Canada to a complete $9.4 trillion.
How the wealth administration trade responds to this, by way of strategic decisions, compelling merchandise and repair for purchasers – and the power to draw and retain purchasers – might be key to remaining aggressive.
“Wealth purchasers are on the lookout for next-generation gives and next-level service—together with web zero, crypto, personalization, and digitization. An important query dealing with wealth managers immediately isn't which initiatives to prioritize, however how finest to implement them.” stated Anna Zakrzewski, international chief of BCG’s wealth administration section and a co-author of the report.
Whereas wealth is anticipated to rise throughout all areas, it's going to proceed be led by Asia-Pacific.
With asset values poised to extend by a compound annual progress fee (CAGR) of 8.4% over the subsequent 5 years, the area might maintain nearly one quarter of worldwide wealth by 2026.