Top 10 Wealth Management Trends for 2022

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2. Democratization of financial planning gathers steam.

“In the past, the financial planning service” sector has been dominated by wealthy investors and not accessible to most Americans, according to Meghna Mukerjee, another Aite Novarica strategic advisor. Others were “priced out of such services, especially when it’s coming from the traditional wealth managers,” she said.

However, that has changed in recent years as demand has increased for personalized planning among retail investors and others, she said. At the same time, “technology has enabled a modern pace of financial planning to emerge,” which has helped make such services more accessible to all kinds of investors, she noted.

Next-generation financial planning providers and software vendors are leveraging the latest technology, client-facing capabilities and pricing to support a broader range of investors, according to Mukerjee.

(Image: Adobe Stock)

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