Private Banks & Trust Companies' Assets To Exceed $5.3 Trillion By 2019

According to the latest research from global analytics firm Cerulli Associates, private banks and trust companies' assets are projected to reach $5.3 trillion by year-end 2019.

"With growing competition, most banks can no longer consider asset allocation their core differentiator," states Donnie Ethier, associate director at Cerulli. "Delivering comprehensive goals-based planning that includes the softer nonfinancial elements of wealth is more important than ever."

In their most recent report, Asset Management Opportunities in Banks 2015: Capitalizing on a Resurgent Focus on Wealth Management, Cerulli focuses on investors, asset managers, and banks. Particular attention is given to best-practice banks that have centralized the investment decision-making process across all of their wealth management platforms, including broker/dealer, trust department, RIA, and family office.

"Banks have unique characteristics that most other channels cannot fully replicate," Ethier continues. "Such as the ability to be an all-in-one provider for any household. Banks that are not promoting their full offering are doing their firm and their clients a disservice."

"The channel's most promising trends include: client-centric advisory models, integrating wealth management platforms, consolidating research teams and portfolio construction processes, and centralizing fee discounting decisions," Ethier explains.

Cerulli's research finds that asset allocation is no longer a main distinguisher, which is only being validated more by the increase in direct-to-consumer providers and the electronic registered advisors (eRIAs)/robo-advisors. Delivering holistic goals-based planning that can incorporate the softer nonfinancial aspects of wealth is more important than ever for banks to differentiate themselves from the low-cost investments provided by the eRIAs.


Top stories from across the globe

  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
  • Former Goldman's Partner in Boutique Venture
  • Hong Kong and Singapore in Push for Fee Transparency

PHOTO GALLERIES Networking Event Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary


Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with – email us on – All communication is completely confidential and strictly anonymous.