With economic situation dangling from a thread, wealth management firms find themselves in some uncharted waters that didn’t want to be in. COVID-19 has knocked the world economy down to its knees, and as the situation escalated in early 2020, we saw a decrease in the graph in the future months.
Thankfully, the situation with COVID-19 is getting better, and the rate of damage the economy was taking is relaxed. However, the damage is done, and wealth management firms are dealing with it right now. 2019 was one of the best years for high net worth individuals, but 2020 is in contrast to it.
The World Wealth Report of 2020 is here, and comparing it with 2019 has resulted in many key findings. The extraordinary situation we are facing today has clearly reflected in the report.
The report’s summary can be found below in the form of an infographic.
Infographic by: capgemini.com