Capgemini’s latest report is a wake-up call for wealth managers as the heads of rich individuals are turned by big tech firms for information and value-added services.
Wealthy individuals in the region are increasingly looking to financial technology services in order to bolster their investment processes and returns, said the annual report.
Wealth managers run just one-third of global high-net-worth individuals' money, and Asia Pacific now represents the biggest pool of capital, according to Capgemini's World Wealth Report 2016.
The latest Asia Pacific Wealth Report highlights which regional markets are growing fastest in terms of high-net-worth population and wealth, and where they are putting their money.
Asia Pacific records the fastest growth in high-net-worth population to overtake the US and is tipped to take top spot for overall wealth this year, finds new research.
Asia remains the fastest growing region in terms of wealth, and its high-net-worth investors are demanding better digital services, finds the RBC and Capgemini Asia-Pacific Wealth Report.