Investor behaviour changes in face of increasing market volatility as demand shifts to active investments and FinTech, new EY report finds.

Wealth managers will need to adapt faster than ever amid unprecedented levels of volatility and global uncertainty that is changing the way people invest in uncertain times, according to the 2023 EY Global Wealth Research Report.

The fourth edition of this detailed survey, which recorded the views of more than 2,600 wealth management clients across 27 geographies, found (40%) of survey respondents think that managing their wealth has become more complex over the last two years, with more than half (57%) citing market volatility as a reason for their lack of financial preparedness. This figure rises to 69% among baby boomer clients – those born between 1946 and 1964, who are more likely to have retired or be close to retirement.

Mike Lee, EY Global Wealth and Asset Management Sector Leader, says:

“Given the ongoing market volatility, investors have a lot of questions right now and they are hungry for advice. Continued market stress is amplifying their defensive stance and appetite for both switching and adding to their portfolio. The role of the wealth manager is crucial right now and will remain in the spotlight as they evaluate their risk models, provide sound advice and take a proactive approach to the interwoven complexities that have evolved rapidly in the past few months.”

According to the survey, over the past two years there has been a 30% decrease in the number of clients who indicate a key purposeful financial legacy goal of transitioning wealth to family and charity as a top priority. Investors’ three leading goals are now protecting wealth against losses and inflation (43%), strengthening investment returns (40%) and ensuring adequate income and financial security (32%).

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