The Orbium Wealth Management C-Level Survey offers an insider’s view of the current and future look of the wealth management industry in Europe and Asia. Respondents were C-level executives from nearly 50 leading private banking and wealth management firms who together manage private wealth assets of more than $2.5 trillion.

The survey findings highlight the key opportunities and challenges identified by C-level executives and reveal their views on how to succeed in an uncertain and fast-changing environment. It also provides insights into the key gaps, blind spots and game-changers affecting their efforts.

The Orbium Wealth Management C-Level Survey outlines the transformational journey as well as the components for successful, future-proof and scalable business models:

1. Client-centric, differentiated front and middle offices to drive growth and improve margins.
2. Agile, scalable and industrialised operations and technology along with data-driven insights to better steer the business.
3. Increased collaboration and partnering via ecosystems and networks when it comes to digitalisation and sourcing to deliver new capabilities.

72% of participants agree that wealth managers must develop parallel strategies to adapt their legacy core business models and invest to develop new methods. Otherwise, they are unlikely to remain relevant to clients in the future

To help guide the business during this evolution and focus scarce resources, Orbium has developed the C-Level Business Assessment Tool.

Based on the findings of the survey, the tool allows firms to assess their current position objectively against where they aspire to be in terms of business and technology evolution. It highlights gaps where additional skills, technologies, products, solutions and other capabilities need to be acquired or developed. The Business Assessment Tool is benchmarked against anonymised real industry data collected during the survey, removing the guesswork and allowing firms to see how their plans measure up against those of their peers. By assessing its own performance and opportunity gaps, a firm will get a clear picture of where it is currently and where it should be in the future. This will highlight what capabilities it already has and needs to develop or acquire in order to get there.

Taking less than 20 minutes to complete, the Assessment Tool offers a granular level of intelligence that helps firms accurately tailor their business models to their chosen market segments.