- Nearly two out of three forecast client growth of more than 20% over the next three years, study shows
- Rising numbers of mass affluent and high net worth clients and investment in technology is fueling expansion
London, September 3 2024 – Wealth managers and financial advisors are predicting continuing strong growth in the number of clients they support, according to new global research* from Ortec Finance, the leading global provider of risk and return management solutions for professional investors.
Nearly two out of three (64%) questioned across the UK, Canada, Italy, the Netherlands, Germany and Switzerland expect growth of 20% or more over the next three years, the study among wealth managers, portfolio managers, financial advisors and financial planners found.
Ortec Finance questioned wealth managers and financial advisors whose organizations collectively manage approximately £1.207 trillion and found that the growing numbers of mass affluent and high net worth clients as well as their own investment in technology is fueling the growth.
Around three out of four (75%) say there is growing demand from the increasing numbers of mass affluent, high net worth and ultra-high net worth individuals for their services while 55% say investing in technology to improve their proposition is boosting growth.
Around half (46%) say investment in technology is improving efficiency while 29% say technology is enabling them to provide more client-centric service.
The study found 59% said they have seen growth in the number of clients they personally serve in the past five years with just 5% reporting a drop in the clients they serve and 36% seeing no change.
However almost all (98%) said they expect the number of clients they look after to increase over the next three years as the table below shows:
| How do you see the number of clients you look after changing in the next three years? | Number of wealth managers and financial advisors saying this |
| Increase by up to 10% | 1% |
| Increase by between 10% and 20% | 33% |
| Increase by between 20% and 30% | 48% |
| Increase by between 30% and 50% | 16% |
| No change/don’t know | 2% |
Tessa Kuijl, Managing Director Global Wealth Solutions at Ortec Finance said: “Rising numbers of mass affluent, high net worth and ultra-high net worth individuals wanting support from wealth managers and financial advisors is driving global growth in the sector.
“However, in this digital age, investment in customer-centric advice technology by firms is an important enabler of client growth with firms able to improve their propositions in general while also being able to enhance service to clients and work more effectively.”
Ortec Finance provides wealth managers and financial advisors with scalable solutions that enable them to manage clients more efficiently and deliver more value to those clients. Its OPAL Planning tool supports banks, advisors and wealth management firms to translate client’s financial goals into an optimal investment strategy – providing forward-looking insights into whether clients are on-track regarding their investment objectives. Together with a fully integrated cash flow planning tool for a holistic view of the client situation, the OPAL Planning tool addresses both income and investment risk. Find out more: https://www.ortecfinance.com/en/solutions/goals-based-wealth-platform
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Notes to editors:
*Independent research company PureProfile interviewed 100 wealth managers and financial advisors located in the UK, Canada, Italy, the Netherlands, Germany and Switzerland whose organizations collectively manage around £1.207 trillion worth of assets for clients. The survey was conducted during April 2024.
For more information, contact:
Phil Anderson, Perception A.
phil@perceptiona.com / +44 7767 491 519