Wealth management firms need to be more nimble in meeting the demands of clients in order to best capture a surge in available assets over the course of this decade, Merrill Lynch Wealth Management executive John Thiel told attendees at the SIFMA Private Client Conference in Boston on Wednesday.

That comes as the current addressable investable wealth, measured by $1 million plus asset households, was at $39 trillion worldwide in May 2011. Those assets are predicted to grow to $87 trillion by 2020 for a 9% compounded annual growth rate.

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