A look at the landscape of wealth and asset management
According to a report by Dyer Baade UK Wealth Management is a trillion-pound market made up of retail investment products such as unwrapped mutual funds, Self Invested Personal Pensions (SIPP), and stocks and shares ISAs.
Amongst this market, Independent Financial Advisors make up the largest segment managing around £500-600bn of assets. 2022 has been a turbulent year for asset managers and financial advisors with market pressures fuelling fears and driving demand in different sectors.
With new regulations designed to strengthen the financial promotion rules for high-risk investments on the way in December 2022, it looks like next year could prove to be just as tumultuous as investment managers keep up with changing guidelines.
Following on from this year’s investment trends, we believe that the areas highlighted below will see some of the largest developments during the remainder of 2022 and into 2023.
Wealth management trends to watch out for
Whether you are an asset manager, financial advisor, or personal wealth holder, here are our top three areas to keep tabs on in 2023.
Sustainable / ESG investing
We recently wrote about the increase in sustainable investing, and it’s a trend that’s here to stay. Predictions indicate that more investors will add ESG funds to their investment portfolios throughout 2022 and beyond.
Inflation can wreak havoc on savings and with predicted inflation averages of 5.5% in 2023. Financial advisors will be implementing strategies to help their clients manage the impact of inflation throughout the next year.
With the recent boom in crypto currency and other digital assets, its no surprise that the digital sector is now making up a larger portion of personal wealth. Wealth managers and financial advisors are incorporating and managing their client’s digital assets into their portfolios.
Keeping up with the changes
Secure your portfolio by getting ahead of the trends and minimising the risk of inflation. As always, we recommend seeking professional advice when it comes to managing your personal wealth and investments.
The Bateman Group has forged strong, long-lasting relationships with clients over the years by delivering friendly and insightful guidance.
To get started give us a call on 01926 405 883.