11 March 2013

The Future of Private Wealth Management: The Next 20 Years (Video)

Posted In: Private Wealth Management

At the recent CFA Institute European Investment Conference, Scorpio Partners founder Sebastian Dovey gave delegates a vision of the future in a session titled “The Future of Private Wealth Management: The Next 20 Years.” The presentation showcased the new ways that firms market to private clients. It also focused on a skill that Dovey believes drives Scorpio’s success, which involves “understanding the mind of the millionaire.” Admitting that the private wealth industry does not often discuss the future, he stated that it is time for asset managers to focus on “what wealth is and what wealth needs.”

In the video above, Dovey also covers:

The evolution of the client, including the effects of cross-cultural influences on clients.
Competitive forces at work in the private wealth management space.
Competencies needed for wealth managers to succeed with a global clientele.

Robert Stammers, CFA, also wrote a summary of Dovey’s presentation.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

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About the Author(s)

Usman Hayat, CFA

Usman Hayat, CFA, writes about sustainable, responsible, and impact investing and Islamic finance. He is the lead author of "Environmental, Social, and Governance Issues in Investing: A Guide for Investment Professionals;" the literature review, "Islamic Finance: Ethics, Concepts, Practice;" and the research report "Sustainable, Responsible, and Impact Investing and Islamic Finance: Similarities and Differences." He is interested in online learning and has directed three e-courses for CFA Institute: "ESG-100," "Islamic Finance Quiz," and "Residual Income Equity Valuation." The other topics he writes about are macroeconomics and behavioral finance. He has experience working in securities regulation and as an independent consultant. His qualifications include the CFA charter, the FRM designation, an MBA, and an MA in development economics. He has served as a content director at CFA Institute. He is a former executive director at the Securities and Exchange Commission of Pakistan (SECP) and former CEO of the Audit Oversight Board (Pakistan). His personal interests include reading and hiking.