(PRWEB) June 24, 2012
Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC, finds a new report from Capgemini stating that with many wealth management firms seeing their costs rising faster than revenue growth in recent years, the ability to re-think business models will be essential to realizing profitable assets under management (AUM) growth while improving client-advisor relationships.
Big4.com reports that according to the 16th annual World Wealth Report, an inaugural collaboration between Capgemini and RBC Wealth Management, wealth management firms that integrate and leverage scalability in their existing business models will be best equipped to deal with the new industry landscape.
Big4.com also notes the World Wealth Report 2012 highlights how firms are facing challenges of rising client demands and advisor remunerations, compliance costs and a lack of operational scalability which increases expansion-related expenses. Big4.com notes that they are also facing pressure from an inability to generate significant fees in the current low interest rate environment as well as increased client demand for low-risk capital-preservation products.
Jean Lassignardie, Corporate Vice President, Capgemini Global Financial Services comments:
“To meet the needs of current and future HNW clients, firms will need to re-focus on core competencies and incorporate ways to embed scalability in their business models while also ensuring high client trust,”he said.
Big4.com is the accounting, tax, consulting and IT professions’ premier resource, and has been exclusively focused on Big Four firm professionals and alumni for 10 years, providing high quality content, connectivity and commerce. The Big Four Job Board offers fresh job opportunities – clients include the world’s leading companies. Big Four News covers key news, developments, events, survey results, press releases and appointments. The Big Four Blog provides opinion and insight on recent and key developments, news, happenings, management changes, regulations, acquisitions and capital market activities. Big4 Video is a professionally produced news covering key global developments in this space.
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- Kristy Short