Latest news with #UHNWI
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Business Standard
5 days ago
- Business
- Business Standard
India adds over 33,000 millionaires in a year: How the rich allocate money
India witnessed a significant wealth boom in 2024, adding more than 33,000 new millionaires in a single year, according to the World Wealth Report 2025 by Capgemini Research Institute. The number of High-Net-Worth Individuals (HNWIs) in India rose by 5.6%, bringing the total to 378,810, up from around 345,000 in 2023. This surge comes alongside an 8.8% rise in total HNWI wealth, now pegged at $1.5 trillion, marking India as one of the fastest-growing wealth hubs globally—outpacing major economies including China. Who Are These Millionaires? Most of India's new millionaires fall under the category of 'Millionaires Next Door'—individuals with investable assets between $1 million and $5 million. India had 333,340 such individuals by the end of 2024, controlling $628.93 billion in wealth. On the ultra-wealthy end, India is now home to 4,290 Ultra HNWIs, defined as those with over $30 million in investable assets. Their collective wealth reached $534.77 billion in 2024. What's Driving This Growth? Equity Market Surge: India's Sensex rose 8.2% in 2024, pushing portfolio values higher for wealthy investors. Domestic Consumption & Entrepreneurship: Rapid digitisation, booming startup culture, and sectoral diversification—especially in tech, fintech, and infrastructure—fueled individual wealth creation. Inheritance Wave: As much as 50% of Indian HNWIs are expected to inherit wealth by 2030, with that number growing to 93% by 2040, per the report. The Capgemini Research Institute's World Wealth Report 2025, also revealed that the global high-net-worth individuals (HNWIs) population rose by 2.6% in 2024. This increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments , such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the US fuels wealth increase A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. APAC high-net-worth individual (HNWI) wealth and population show sustained growth India saw an 8.8% rise in HNWI wealth and a 5.6% growth in population, outpacing global peers including China. Market indicators including India's Sensex (up 8.2%) registered equity market gains. Total HNWI Wealth and Population India had 378,810 millionaires at the end of 2024 with a total wealth of $1.5 trillion. Japan had 3989820 millionaires at the end of 2024 with a total wealth of $9.9 trillion. China had 1502460 millionaires at the end of 2024 with a total wealth of $7.9 trillion. India had 4290 ultra HNWIs at the end of 2024 with a wealth of $534.77 billion. China had 22780 ultra HNWIs at the end of 2024 with a wealth of $3.6 trillion. Japan had 13620 ultra HNWIs at the end of 2024 with a wealth of $1.01 trillion. % of the surveyed Indian HNWIs inheriting wealth cumulatively as per HNWI survey, n=6,472 50% by 2030 77% by 2035 93% by 2040 If you're planning your family's financial future, consider this: 50% of Indian HNWIs will inherit their wealth by 2030, with that number climbing to 93% by 2040. This makes inheritance and estate planning critical. Financial advisors are seeing more interest in offshore investments, trust structures, and tax planning, especially among Gen X and Gen Z heirs. India's Next-Gen Rich want more than just money India's next-gen millionaires are digitally native and globally focused—and they're reshaping wealth management (WM): 85% of Indian next-gen HNWIs plan to switch their parents' WM firms within the next 1–2 years. 51% cite missing services on their preferred platforms, and 41% complain about poor digital tools. In short: Gen Z and millennial millionaires want customized, tech-first wealth solutions—and they're willing to move firms or follow trusted relationship managers (67% would switch firms with them). Offshore investments are no longer just about tax 98% of India's next-gen HNWIs plan to boost offshore assets by 2030. Why? Better investment choices (55%), stronger advisory services (65%), and more stable markets and regulations abroad (49%). Even younger families are exploring global real estate, tech startups, and ESG-aligned funds as diversification tools—not just tax havens. "As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs," said the report.
Yahoo
6 days ago
- Business
- Yahoo
North America High-Net-Worth Individual Population Surges, While Europe and Middle East Shrink: Capgemini Report
U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million Ultra-high net worth individual population rises by 6.2% worldwide High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies PARIS, June 04, 2025--(BUSINESS WIRE)--The Capgemini Research Institute's World Wealth Report 2025, published today, reveals the global high-net-worth individuals1 (HNWIs) population rose by 2.6% in 2024. Now in its 29th edition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the U.S. fuels wealth increaseA favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. Next-gen HNWIs seek wealth management firms that align with investment prioritiesWealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040. "The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector," said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member. "The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees." As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs. To attract next-gen HNWIs, wealth management firms must rethinkThe report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including: Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails Insufficient support from wealth management firms makes advisors a flight riskAccording to the report, one-in-three advisors express dissatisfaction with their firms' lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients. Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040. As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes. Read the full report: Sailing through the Great Wealth Transfer Report MethodologyThe World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets. About CapgeminiCapgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Get The Future You Want | About the Capgemini Research InstituteThe Capgemini Research Institute is Capgemini's in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times - an industry first. Visit us at ____________________ 1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M). 2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets 3 UBS, "Global Wealth Report 2024" 4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as "next-gen HNWIs" to signify the generational shift in HNWI wealth View source version on Contacts Press contact: Fahd Pasha Tel.: +1 647 860 3777 E-mail: Sign in to access your portfolio
Business Wire
6 days ago
- Business
- Business Wire
North America High-Net-Worth Individual Population Surges, While Europe and Middle East Shrink: Capgemini Report
PARIS--(BUSINESS WIRE)-- The Capgemini Research Institute's World Wealth Report 2025, published today, reveals the global high-net-worth individuals 1 (HNWIs) population rose by 2.6% in 2024. Now in its 29 th edition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments 2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. 'The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance." Bullish stock market performance in the U.S. fuels wealth increase A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. Next-gen HNWIs seek wealth management firms that align with investment priorities Wealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD 3 will change hands over the next two decades, creating the next generation of HNWIs 4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040. 'The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector,' said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member. 'The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees.' As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs. To attract next-gen HNWIs, wealth management firms must rethink The report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including: Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails Insufficient support from wealth management firms makes advisors a flight risk According to the report, one-in-three advisors express dissatisfaction with their firms' lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients. Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040. As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes. Read the full report: Sailing through the Great Wealth Transfer Report Methodology The World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets. About Capgemini Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Get The Future You Want | About the Capgemini Research Institute The Capgemini Research Institute is Capgemini's in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times - an industry first. Visit us at ____________________ 1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M). 2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets 3 UBS, 'Global Wealth Report 2024' 4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as 'next-gen HNWIs' to signify the generational shift in HNWI wealth Expand
Yahoo
6 days ago
- Business
- Yahoo
North America high-net-worth individual population surges, while Europe and Middle East shrink
Press contact:Fahd PashaTel.: +1 647 860 3777E-mail: North America high-net-worth individual population surges, while Europe and Middle East shrink U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million Ultra-high net worth individual population rises by 6.2% worldwide High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies Paris, June 4, 2025 – The Capgemini Research Institute's World Wealth Report 2025, published today, reveals the global high-net-worth individuals1 (HNWIs) population rose by 2.6% in 2024. Now in its 29th edition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios. Bullish stock market performance in the U.S. fuels wealth increaseA favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed. At the end of 2024, according to Capgemini's research: Europe's HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe's UHNWI population rose 3.5%, reflecting increased wealth concentration. Asia-Pacific's HNWI population increased 2.7%, with notable variability across the region. Latin America's HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines. The Middle East's HNWI population declined 2.1%, driven by lower oil prices. Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country's HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%. Next-gen HNWIs seek wealth management firms that align with investment prioritiesWealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040. 'The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector,' said Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit and Group Executive Board Member. 'The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees.' As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs. To attract next-gen HNWIs, wealth management firms must rethink The report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including: Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails Insufficient support from wealth management firms makes advisors a flight riskAccording to the report, one-in-three advisors express dissatisfaction with their firms' lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients. Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040. As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes. Read the full report: Sailing through the Great Wealth Transfer Report MethodologyThe World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets. About CapgeminiCapgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion. Get The Future You Want | About the Capgemini Research Institute The Capgemini Research Institute is Capgemini's in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times - an industry first. Visit us at 1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M).2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets3 UBS, 'Global Wealth Report 2024' 4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as 'next-gen HNWIs' to signify the generational shift in HNWI wealth Attachment 06_04_World Wealth Report 2025 Press ReleaseSign in to access your portfolio
Emirates Woman
28-02-2025
- Business
- Emirates Woman
UAE salary guide 2025: See how much you should be earning
And see which are the most in-demand jobs for 2025… Global recruitment firm Michael Page has published its UAE salary guide for 2025 – providing an insightful and comprehensive guide to the UAE job market and the most in-demand roles for the year ahead. ADVERTISING The UAE Salary Guide 2025 also gives an idea of how much sectors are earning on average, allowing you to better understand where the highest and lowest paid salaries are. The salary guide looks at 17 key industry sectors, covering everything from banking and legal to property, retail and digital. According to the Michael Page data, from those surveyed, 52% of employees are satisfied with their salary, up from 44% the previous year. And while there has been a decline from 74%, 65% of the workforce is still considering a job switch in 2025. See below for what you should be earning in your sector in the UAE in 2025. Banking and financial services Average salaries for entry level roles in the banking sector for relationship managers and client services officers sit at AED25,000 per month. Top senior roles of Managing Director level average between AED100,000 and AED120,000 monthly. With a surge in UHNWI's moving to the UAE and a growing asset management industry, there's increased demand for two main roles: fundraising/institutional sales and compliance professionals. Data and analytics The data landscape is evolving rapidly, largely with the rise of AI, and while classic data roles remain in demand, there's now a need in the UAE for new-age AI and machine learning skills. Data analysts and data quality analysts are averaging AED25,000 per month, while data science managers can expect around AED50,000 per month. Those in AI specialist roles can expect anywhere between AED35,000 and AED45,000. Digital The region continues to make its mark as a global hub for innovation, and demand for skilled digital professionals has never been higher. But with demand comes selectivity – and employers are seeking digital pioneers rather than just the basics. Digital marketing executives can expect anywhere between AED12,000 and AED18,000 monthly, while digital marketing managers should expect between AED18,000 and AED35,000. Graphic designer salaries range from AED12,000 to AED25,000, while a head of digital marketing can look for a salary between AED35,000 and AED60,000. Human Resources Traditional HR roles are in much less demand than those who can offer specialized HR services, like learning and development, talent acquisition, organisational design and talent management to drive strategic growth. General HR roles average salaries of AED25,000, while talent acquisition specialists averaging AED25,000, AED40,000 or AED65,000 depending on their level. Legal Private law firms in the UAE – like they are globally – are looking to add strength and depth to their practices. Existing regional experience is essential for the better paid roles. Entry level legal secretaries are earning an average of AED22,500, while newly qualified lawyers average AED37,000. Partners at private legal practices average between AED90,000 and AED180,000. Retail View this post on Instagram A post shared by @stylegator Identifying and attracting talent with the right mix of expertise and adaptability are key in the retail sector. The most in-demand roles are those with expertise in omni-channel marketing and e-commerce. Sales associate roles average between AED11,000 and AED14,000 per month, while store managers earn between AED25,000 and AED35,000. Retail directors and general managers can expect salaries of between AED50,000 and AED80,000. Sales and Marketing While there's been a noticeable surge in recruitment for B2B roles, consumer marketing hiring was quieter in the last year – so those with multi-country experience and more senior levels are the ones most in-demand. In consumer roles, entry level salaries start from AED14,000 on average, while CMOs can expect AED70,000 to AED120,000. In B2B marketing, executive and research roles start from AED10,000 per month, ranging up to AED90,000 average monthly salary for COO's and heads of marketing. Secretarial The competition in the secretarial sector is fierce, and having traditional skills is no longer enough. To stand out, candidates need to up skill and tailor applications to market needs. Those that are bilingual, have UAE experience, and project management skills are most in-demand. Receptionists can expect anywhere between AED8,000 and AED16,000 depending on their sector, while personal assistants can look at AED14,000 to AED30,000 depending on sector and experience. Images: @jesshunt2
