Episode 229 – What’s Driving Record Highs for HNWIs? with Elias Ghanem
September 16, 202416m 44s
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Show Notes
Elias Ghanem is the Global Head of Capgemini Research Institute for Financial Services. Capgemini is a global partner in business and technology transformation, helping organizations accelerate their digital and sustainable transitions for tangible impact on both enterprises and society.
In this podcast, we explore the record-breaking growth of high-net-worth individuals (HNWIs) and the factors contributing to this increase, as outlined in Capgemini’s World Wealth Report.
Also discussed:
- Global trends in wealth accumulation, with North America, particularly the U.S., leading the charge, followed by APAC and Europe.
- The major shift in asset allocation occurred in 2023, with HNWIs holding unprecedented levels of cash and shifting toward fixed income and real estate as markets stabilize in 2024.
- The growing competition wealth management firms face from family offices, especially in serving ultra-high-net-worth individuals (UHNWIs) with over $30 million in investable assets.
- The crucial role behavioral finance plays in addressing biases that impact HNWIs’ investment decisions.
- The evolving needs of UHNWIs.
- Collaboration between banks and family offices being essential, with banks needing to invest in technology to offer personalized and holistic services to remain competitive.
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