U.S. Private Banks & Trust Companies 2024
The Outlook for Bank-Centric Wealth Management
Evaluate Opportunities in the Private Bank and Trust Channel
- Understand how banks are adapting advisory models to compete for client assets
- Evaluate developments in banks’ investment management functions
- Track changes in banks’ portfolio construction processes, use of models, and managed accounts platforms
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Summary
Evaluate marketshare, business development strategies, portfolio construction, and changing demographics and client demands affecting private banks, trust departments, and non-depository trust companies.
A Note from the Author
Banks Are Leaving Dollars on the Table
Matt Zampariolo
Research Analyst
Bio →
Matt Zampariolo
Research Analyst
Matt is a member of Cerulli’s Wealth Management practice, specializing in research across the high-net-worth and ultra-high-net-worth investor markets, including private banks, trust companies, RIAs, and multi-family offices. As an analyst, Matt provides support to the firm’s high-net-worth research team, assisting in the production of two annual reports and a variety of strategic consulting projects.
Prior to joining Cerulli, Matt worked as a financial analyst within Goldman Sachs’ multi-family office, based in Saratoga Springs. He graduated from the University at Albany with a degree in Economics.
Full biography here.
Despite an increased focus on internal synergies within banks, domestic deposits at U.S. banks have significantly outpaced the growth of wealth management assets within those same firms. According to our research, deposits have grown more than 109% (more than $3.2 trillion total, or 8% annualized) since 2013, while wealth management assets have grown just $739 billion (81% total, or 6% annually).
Amidst the substantial wealth creation in the United States, and increased appetite for recurring non-interest-rate revenue, how can banks increase the flow of deposit dollars to their wealth management practices?
Use our comprehensive report, U.S. Private Banks & Trust Companies 2024, for a complete understanding of what’s happening in the bank channel, covering bank deposit trends, private bank sizing, product demand, services offered, and more.
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