Private banking, since 2007 services for the richest have grown by 6.6% per year – Corriere.it

From 2007 to today, private banking has grown by an average annual 6.6% in terms of assets under management (against +1.4% of household wealth and -0.3% of GDP), a path that has led industry to manage over 70% of its market of choice, that of families with investable financial portfolios exceeding 500 thousand euros. In 2022, the potential private banking market was 1,360 billion.

what emerges from the research Financial consultancy for the Next Gen: new models for tomorrow’s investors and professionals, carried out by the Italian private banking association (Aipb) together with Accenture. The new market, underlines the study, to be analyzed today in order to be able to conquer it tomorrow, is that of individuals with high potential aged between 26-41 years (Millennials) and between 42-57 years (Gen X): interested in efficient financial advice and evolved, their financial wealth estimated at around 600-700 billion. As Private Banking we have achieved extraordinary results in the last 15 years, having as interlocutors our customers belonging mainly to the silent generation and baby boomers. The time has now come to open up to the new generations and guide the generational turnover of both our private bankers and our customers, commented Andrea Ragaini, president of Aipb.