Wealth management firms need to be more nimble in meeting the demands of clients in order to best capture the surge in available assets over the course of this decade. This is what Merrill Lynch Wealth Management executive John Thiel recently told attendees at the SIFMA Private Client Conference in Boston.
His message comes as the current 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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