Predictions

2014 Private Wealth Outlook

Redefining the roles and responsibilities of the evolving family office

From the U.S. Center for Financial Services

Learn how new burdens are prompting private wealth managers to adopt a more institutional structure that includes a renewed focus on procedures and controls.

In 2014 the private wealth industry is expected to be as competitive as ever. While worldwide wealth is growing, there is an increasing number of institutions competing for the assets of the relatively few, very wealthy families. Many ultra-high-net-worth families are broadening their investment portfolios in search of the right mix of risk and return for their portfolios. They are entering new geographies and participating in more direct investments. These investments, when combined with additional tax and client reporting demands, are placing greater due diligence and operational burdens on private wealth managers.

These new burdens are prompting private wealth managers to adopt a more institutional structure that includes a renewed focus on procedures and controls. To implement these efforts, many private wealth managers are seeking experienced wealth management talent and continuing to invest in technology. The increasing use of technology calls for robust business continuity planning and preparation for cyber-attacks.

Despite the competitive and cost pressures, private wealth managers offer distinct advantages that are likely to remain very popular for wealthy families for the foreseeable future.

Download the 2014 Private Wealth Outlook or read the companion documents about the outlooks for mutual funds and alternative investments.

Services

Quick Look Blog

Join Jim Eckenrode, executive director of the Deloitte Center for Financial Services and our research leaders for Investment Management, Banking & Securities, Insurance and Real Estate, as they discuss issues facing financial services leaders today.

Services

Deloitte U.S. Center for Financial Services

The Center for Financial Services, part of the U.S. FSI group, is a source of  insights on the important issues in the financial services industry.

Key contacts

Cary Stier

Global Investment Management Sector Leader

Key contacts

Jim Eckenrode

Executive Director, Center for Financial Services

Contact us

Contact us via our online form

Careers

Life at Deloitte

People make Deloitte one of the best places to work. What’s great about the people? That’s an easy answer. They are exceptional. Each person is unique and valued for that, among the best and brightest in the business, and takes pride in his or her achievements and the success of others.