Wealth management is a special activity that requires complex knowledge and skill. Even in stable times, increasing the financial well-being of an individual or family is not an easy task. For its successful implementation, at least one representative of a wealthy family must devote all their time to it, studying financial analytics, making decisions on investments and monitoring their performance, etc. When society goes through turbulent times, the task of increasing capital requires even more attention because everything can turn upside down in one minute. Falling stock prices, business bankruptcy, political unrest in the regions in which you have investment projects, etc. can become a real headache.
That is why affluent people prefer to contact wealth management consulting companies with a good reputation. Having a large number of specialists in different fields, they can develop an integrated approach that will take into account all the challenges and open up new opportunities unnoticeable at first glance. Thus, Tony Davidow, CIMA, says that markets have transformed rapidly over the past 10 years, and by 2030, investors will increasingly rely on wearable technology to track their investments. However, they still will not replace human advisers.
Features of a Modern Approach to Wealth Management
Modern theory and practice of wealth management require accurate forecasts, quick reactions, and non-standard decisions. In a situation where everything is changing rapidly, the range of mechanisms for mitigating risks should be as broad as possible. Investment projects must be approached, on the one hand, with extreme caution, and on the other hand, with courage. An expert in this field, Certuity Company, highlights this feature of today’s markets by offering dynamic wealth management strategies https://certuity.com/wealth-management/.
To understand all the challenges that high-net-worth clients face, let us compare the circumstances of wealth management in stable and unstable systems.
Feature |
Stable Systems |
Unstable Systems |
| Legal and normative frameworks | Robust regulatory base | Changing regulatory environment |
| Impact of technology | Moderate, leading to increased productivity | Revolutionary, in which new technology can radically transform the market, making leaders outsiders and new start-ups — leaders |
| Business chain sustainability | Well-established business supply chains | The possibility of disruption of business chains due to problems with suppliers |
| Geography of investments | Limited to well-known and predictable economic systems | Entering risky but promising markets in different regions of the world |
| Level of financial stress | Acceptable | High |
Thus, modern wealth management requires a flexible approach to investment. It must combine reliance on proven methods of raising funds and participation in prospective innovative projects. The latter will become trendy in the near future and provide capital growth in a changing economic and technological environment.
Award-Winning Wealth Management Consulting Companies
Wealth management advisory takes on special significance in conditions of sudden and unpredictable changes. However, the company you consult with should have a long and successful track record of its activities. In this case, you will not have to worry about entrusting your capital to other people, because you will know that you are relying on the experience and skills of professionals.
Certuity
Certuity is a company that provides family office services to ultra-high-net-worth families and wealth management consulting. Its clients include well-known rich families, business leaders, investors, entrepreneurs, etc. Based on a holistic approach, the company develops effective portfolio investment recommendations involving both traditional and alternative investments. Also, for institutions, family offices, businesses, etc., Certuity offers OCIO services, allowing them to delegate the function of capital allocation to professionals.
Deloitte
Deloitte has an extensive network of companies in different regions. Its services can be used by wealthy families and individual investors from around the world. Moreover, it is one of the oldest consulting companies, as it was established back in 1845. However, modern globalization trends have moved its headquarters to New York and expanded the range of services provided in the field of financial consulting.
Boston Consulting Group
Boston Consulting Group (BCG) has a more than 60-year history of advising wealthy clients on how to manage their wealth. Riding the wave of AI success, the company announced GenAI collaboration so its clients can benefit from the creativity of human consultants and the high cognitive abilities of GenAI.
KPMG International Limited
KPMG also has deep historical roots dating back to the early 19th century. However, as the KPMG brand, it emerged in 1987 after several mergers. Its consulting services cover many areas, including wealth management. The company operates in 143 countries around the world, offering world-class solutions for its clients. Using its services is especially beneficial for clients who are planning to invest in unfamiliar regions.
Accenture
The consulting company Accenture specializes in financial and business consulting, as well as in the integration of information technology. Therefore, it is suitable for those clients who wish to take advantage of next-generation advisory offerings. They are based on the use of new technologies, including Gen AI.
Conclusions
Modern approaches to wealth management require flexibility and rapid response to changes in markets and political and social life. Making rational management decisions with the help of consulting companies is becoming a necessity in the modern global economy, which is transforming at a rapid pace. Professionals in the field of wealth management will suggest effective and proven ways to increase your wealth and open up new promising areas for investment. This will allow you to go beyond the usual ways of investing and open up new opportunities for capital growth.
