Growing economies lead to growing wealth, or at least it should be that way. To ensure this, generated wealth needs to be managed properly, which is getting more and more difficult due to increasing complexity in the world market for wealth management.
“With the mature economies of the ‘old world’ and the developing economies of the ‘new world’ moving at different speeds, wealth managers in different regions are grappling with tough sets of problems,” says Brent Beardsley, the coauthor of the recently published report “Maintaining Momentum in a Complex World: Global Wealth 2013”, at Boston Consulting Group.
Last year private financial wealth grew by 7.8% globally to reach US$135.5 trillion, the report found. Eastern Europe led all regions with 16.4% growth in 2011 but was topped in 2012 by Asia Pacific (excluding Japan) with 13.8%.
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