White Papers

2020 Vision: The Most Critical Decade - BNY Mellon Wealth Management

Wendy Connett, Editor, 17 September 2010

articleimage

BNY Mellon Wealth Management heralds the next decade as the most critical ever for HNW investors, setting out its thoughts in a new white paper.

BNY Mellon Wealth Management is heralding the next decade as the most critical for high net worth investors in a recently released white paper.

The white paper, 2020 Vision: The Most Critical Decade, describes a landscape that has been fundamentally changed, creating “unprecedented challenges – so many, in fact, that the decade ahead will, in many ways, be the most critical ever.”

The financial crisis produced an unprecedented seismic shift in the investing and planning landscape. To achieve their goals in the coming decade, high net worth investors must abandon some conventional ideas and accept the new realities of investing and planning, the white paper maintains.

“Investors today are forced to deal with a profoundly different world that presents them with extreme uncertainty in terms of investing or constructing effective wealth and estate plans,” Larry Hughes, chief executive of BNY Mellon Wealth Management said. “The reality is that more investors are likely to fall short of their goals than in any time in the past 50 years.”

Success will depend on investment innovation and rigorous discipline, dynamic seamless planning and a different quality of client advisor engagement.  

“The key to navigating this new landscape is a holistic approach to investing and wealth planning which cuts across traditional silos,” Hughes said. “In order to achieve this, there will be a need for increased communication between the client and advisor in a language that is free of jargon and industry speak and the establishment of trust that will allow advisors to adapt and react to a highly volatile and unpredictable investing environment.”

To view the link, readers can click here: http://www.bnymellonwealthmanagement.com/Resources/documents/2020Vision.pdf

 

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes