Building resilience in shifting environments

Investor confidence over a 12–18-month horizon has dropped from 56% in 2025 to 39% in 2026, as geopolitical risks, macroeconomic pressures and market volatility weigh on decisions. In search of growth, clients are diversifying beyond North America toward Asia-Pacific and the Middle East & Africa, and 42% are considering relocating, making domicile a strategic wealth choice. These shifts in sentiment, allocation preferences and geographic mobility reflect how profoundly the wealth management landscape is evolving. As uncertainty rises and wealth structures become more complex, the ability to understand distinct client profiles and tailor advice accordingly is becoming a critical differentiator for wealth managers.

Entrepreneurs – especially in technology, industrials, and financial services – are a growing yet complex client group with wealth closely tied to their businesses. Key needs include succession and exit planning, financing and risk diversification, though many wealth managers lack the specialised products, digital tools, and intergenerational expertise to serve them fully. It’s important for wealth managers to understand entrepreneurial client behaviour and referral patterns and translate this knowledge into actionable strategies. Possible approaches include building partnerships with international and global advisory firms to proactively source and support entrepreneurial clients throughout their wealth journey. Advanced feeder strategies are a promising approach to accelerating growth.

Persistent inflation, higher interest rates, geopolitical tension and volatile public markets have triggered a structural shift in how wealth is built and preserved. Portfolios are moving beyond listed equities and bonds toward lasting allocations to alternatives. Alternatives are no longer a niche add-on. Private equity, real estate, and private debt lead demand, while commodities – especially precious metals – are regaining importance as hedges and diversifiers, with technology and healthcare dominating sector focus.

Respondents see AI as the most impactful near-term technology, ahead of blockchain and tokenisation. Over half use AI daily, and many are exploring new applications. Typical applications include front-office improvements like streamlined client onboarding, personalised advice and dynamic portfolio recommendations, middle-office capabilities like compliance monitoring, suitability checks and automated risk assessments, and back-office efficiencies including regulatory reporting, reconciliation and workflow automation. A new paradigm is also emerging that could significantly change how firms design and run their operating models: agentic AI. This will push firms to invest in integrated digital ecosystems that enhance agility and resilience.