PRIVATE BANKING AND WEALTH MANAGEMENT BETWEEN OPPORTUNITIES AND THREATS

Plamen Dzhaparov
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Plamen Dzhaparov: University of Economics

Economics 21, 2019, issue 1 Year 2019, 67-85

Abstract: Opportunities for banks in the sphere of private banking & wealth management have been continuously multiplying under the influence of the rapid accumulation and concentration of capital on a global scale and the predicted colossal transfer of wealth between generations. Yet, in order to consolidate their leading position in the industry in today’s complex, dynamic and turbulent environment, banks need to adopt totally different solutions and overcome a number of barriers. Their response to the challenges posed by the ‘invasion’ of new players on the market and to the urgent need to change the profile of financial advisors is of paramount importance.

Keywords: private banking; wealth management; banks; financial advisors; FinTech firms (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2019
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