BCG Global Wealth Report 2025: Top 5 Cross-Border Booking Centres in 2024 are Switzerland $2.7 Trillion, Hong Kong $2.7 Trillion, Singapore $1.9 Trillion, United States $1.5 Trillion, United Kingdom $1 Trillion, Global Financial Assets in 2024 $305 Trillion, Global Liabilities $60.8 Trillion, Global Real Assets $567.9 Trillion, Global Net Wealth $512.1 Trillion, Top 2 Wealth Managers Goals are Grow Net New Asset (NNA) & Improve Profitability, Wealth Managers Cost-to-Income Ratio Global Average is 75%, Wealth Managers AUM Growth Non-Organic 72% & Organic 28%, Wealth Managers AUM Growth Since 2014 by Type are Market & Foreign Exchange (FX) 32%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 31%, Organic Growth (NNA) from Existing Advisors 28%
24th July | Hong Kong
Boston Consulting Group (BCG) has released the BCG Global Wealth Report 2025, providing key insights into the global wealth management industry, top booking centres & AUM growth drivers. Top Cross-Border Booking Centre in 2024 – Switzerland $2.7 trillion. 2nd largest Cross-Border Booking Centre in 2024 – Hong Kong $2.7 trillion. 3rd largest Cross-Border Booking Centre in 2024 – Singapore $1.9 trillion. Top 5 Cross-Border Booking Centres in 2024 – Switzerland $2.7 trillion, Hong Kong $2.7 trillion, Singapore $1.9 trillion, United States $1.5 trillion, United Kingdom $1 trillion. Top 3 Fastest Growing Cross-Border Booking Centres in 2024 – Hong Kong $231 billion, Singapore $204 billion, Switzerland $154 billion. Global Financial Assets in 2024 – $305 trillion. Global Liabilities in 2024 – $60.8 trillion. Global Real Assets in 2024 – $567.9 trillion. Global Net Wealth in 2024 – $512.1 trillion. Financial Assets in APAC – $65.4 trillion. Net Wealth in APAC – $140.7 trillion. Top 2 Wealth Managers Goals – Grow Net New Asset (NNA), Improve Profitability. Wealth Managers Cost-to-Income Ratio Global Average – 75%. Wealth Managers Cost-to-Income Ratio Top Quartile (75% Above) – 64%. Regional Investible Wealth AUM Growth in 2024 – $191 trillion. Wealth Managers AUM Growth Non-Organic – 72%. Wealth Managers Organic Growth (NNA) from Existing Advisors – 28%. 3 Non-Organic Growth Type – Capital Markets in Market & Foreign Exchange (FX), Mergers & Acquisitions (M&A), Hiring New Advisors for Net New Asset (NNA). Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 32%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 31%, Organic Growth (NNA) from Existing Advisors 28%. Wealth Managers AUM Growth Since 2014 by Type in APAC – Market & Foreign Exchange (FX) – 2%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 39%, Organic Growth (NNA) from Existing Advisors 50%. Universal Banks Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 30%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 29%, Organic Growth (NNA) from Existing Advisors 32%. Pure-Play Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 40%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 36%, Organic Growth (NNA) from Existing Advisors 15%. Top 4 Universal Banks Wealth Managers Organic AUM Growth Advantage – Internal referrals, Retail banking channels, Capital strength, Brand recognition. Top 3 Structural Issues for Organic Growth – Advisors less focused on new client acquisition, New competitors gaining market share, Administrative burdens. Top Wealth Managers focus on high-impact levers for organic growth – Client Acquisition, Share of Wallet, Asset Retention, Advisor Retention. See below for key findings & summary | View report here
“ BCG Global Wealth Report 2025: Top 5 Cross-Border Booking Centres in 2024 are Switzerland $2.7 Trillion, Hong Kong $2.7 Trillion, Singapore $1.9 Trillion, United States $1.5 Trillion, United Kingdom $1 Trillion, Global Financial Assets in 2024 $305 Trillion, Global Liabilities $60.8 Trillion, Global Real Assets $567.9 Trillion, Global Net Wealth $512.1 Trillion, Top 2 Wealth Managers Goals are Grow Net New Asset (NNA) & Improve Profitability, Wealth Managers Cost-to-Income Ratio Global Average is 75%, Wealth Managers AUM Growth Non-Organic 72% & Organic 28%, Wealth Managers AUM Growth Since 2014 by Type are Market & Foreign Exchange (FX) 32%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 31%, Organic Growth (NNA) from Existing Advisors 28% “
BCG Global Wealth Report 2025: Top 5 Cross-Border Booking Centres in 2024 are Switzerland $2.7 Trillion, Hong Kong $2.7 Trillion, Singapore $1.9 Trillion, United States $1.5 Trillion, United Kingdom $1 Trillion, Global Financial Assets in 2024 $305 Trillion, Global Liabilities $60.8 Trillion, Global Real Assets $567.9 Trillion, Global Net Wealth $512.1 Trillion, Top 2 Wealth Managers Goals are Grow Net New Asset (NNA) & Improve Profitability, Wealth Managers Cost-to-Income Ratio Global Average is 75%, Wealth Managers AUM Growth Non-Organic 72% & Organic 28%, Wealth Managers AUM Growth Since 2014 by Type are Market & Foreign Exchange (FX) 32%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 31%, Organic Growth (NNA) from Existing Advisors 28%
Boston Consulting Group (BCG) has released the BCG Global Wealth Report 2025, providing key insights into the global wealth management industry, top booking centres & AUM growth drivers. View report here
BCG Global Wealth Report 2025
Summary
- Top Cross-Border Booking Centre in 2024 – Switzerland $2.7 trillion
- 2nd largest Cross-Border Booking Centre in 2024 – Hong Kong $2.7 trillion
- 3rd largest Cross-Border Booking Centre in 2024 – Singapore $1.9 trillion
- Top 5 Cross-Border Booking Centres in 2024 – Switzerland $2.7 trillion, Hong Kong $2.7 trillion, Singapore $1.9 trillion, United States $1.5 trillion, United Kingdom $1 trillion
- Top 3 Fastest Growing Cross-Border Booking Centres in 2024 – Hong Kong $231 billion, Singapore $204 billion, Switzerland $154 billion
- Global Financial Assets in 2024 – $305 trillion
- Global Liabilities in 2024 – $60.8 trillion
- Global Real Assets in 2024 – $567.9 trillion
- Global Net Wealth in 2024 – $512.1 trillion
- Financial Assets in APAC – $65.4 trillion
- Net Wealth in APAC – $140.7 trillion
- Top 2 Wealth Managers Goals – Grow Net New Asset (NNA), Improve Profitability
- Wealth Managers Cost-to-Income Ratio Global Average – 75%
- Wealth Managers Cost-to-Income Ratio Top Quartile (75% Above) – 64%
- Regional Investible Wealth AUM Growth in 2024 – $191 trillion
- Wealth Managers AUM Growth Non-Organic – 72%
- Wealth Managers Organic Growth (NNA) from Existing Advisors – 28%
- 3 Non-Organic Growth Type – Capital Markets in Market & Foreign Exchange (FX), Mergers & Acquisitions (M&A), Hiring New Advisors for Net New Asset (NNA)
- Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 32%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 31%, Organic Growth (NNA) from Existing Advisors 28%
- Wealth Managers AUM Growth Since 2014 by Type in APAC – Market & Foreign Exchange (FX) – 2%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 39%, Organic Growth (NNA) from Existing Advisors 50%
- Universal Banks Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 30%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 29%, Organic Growth (NNA) from Existing Advisors 32%
- Pure-Play Wealth Managers AUM Growth Since 2014 by Type – Market & Foreign Exchange (FX) 40%, Mergers & Acquisitions (M&A) 9%, Net New Asset (NNA) from New Advisors 36%, Organic Growth (NNA) from Existing Advisors 15%
- Top 4 Universal Banks Wealth Managers Organic AUM Growth Advantage – Internal referrals, Retail banking channels, Capital strength, Brand recognition
- Top 3 Structural Issues for Organic Growth – Advisors less focused on new client acquisition, New competitors gaining market share, Administrative burdens
- Top Wealth Managers focus on high-impact levers for organic growth – Client Acquisition, Share of Wallet, Asset Retention, Advisor Retentio
BCG Global Wealth Report 2025
1) Top Booking Centres
Top 10 Cross-Border Booking Centres in 2024:
- Switzerland – $2.7 trillion
- Hong Kong – $2.7 trillion
- Singapore – $1.9 trillion
- United States – $1.5 trillion
- United Kingdom – $1 trillion
- Channel Islands & Isle of Man – $700 billion
- United Arab Emirates – $700 billion
- Luxembourg – $600 billion
- Cayman Islands – $500 billion
- Bahamas – $400 billion
- Others – $1.8 trillion
- Total – $14.4 trillion
Top 10 Cross-Border Booking Centres – Top Regional Source in 2024:
- Switzerland – Western Europe
- Hong Kong – APAC
- Singapore – APAC
- United States – Latin America
- United Kingdom – Western Europe
- Channel Islands & Isle of Man – Western Europe
- United Arab Emirates – Middle East & Africa
- Luxembourg – Western Europe
- Cayman Islands – North America
- Bahamas – North America
Top 10 Fastest Growing Cross-Border Booking Centres in 2024:
- Hong Kong – $231 billion
- Singapore – $204 billion
- Switzerland – $154 billion
- United States – $144 billion
- United Kingdom – $73 billion
- United Arab Emirates – $65 billion
- Channel Islands & Isle of Man – $52 billion
- Luxembourg – $44 billion
- Cayman Islands – $37 billion
- Bahamas – $34 billion
2) Global Wealth & Financial Assets
Global Financial Wealth in 2024:
- Financial Assets – $305 trillion
- Liabilities – $60.8 trillion
- Real Assets – $567.9 trillion
- Net Wealth – $512.1 trillion
Global Financial Assets:
- 2023 – $282 trillion
- 2024 – $305 trillion
- 2029 – $399 trillion
Global Net Wealth:
- 2023 – $490 trillion
- 2024 – $512 trillion
- 2029 – $644 trillion
Global Net Wealth ~ Financial assets & Real assets, less liabilities
Financial Assets by Region:
- Latin America – $7.3 trillion
- Japan – $14.7 trillion
- Middle East & Africa – $9.3 trillion
- North America – $147.4 trillion
- Western Europe – $55. trillion
- Eastern Europe & Central Asia – $5.3 trillion
- APAC – $65.4 trillion
Net Wealth by Region:
- Latin America – $17.5 trillion
- Japan – $22.3 trillion
- Middle East & Africa – $25.6 trillion
- North America – $188.8 trillion
- Western Europe – $104.8 trillion
- Eastern Europe & Central Asia – $12.4 trillion
- APAC – $140.7 trillion
Wealth Growth in 2024:
- Latin America: -9.3%
- Japan: -5.2%
- Middle East & Africa: +4.8%
- North America: +14.9%
- Western Europe: +0.8%
- Eastern Europe & Central Asia: +0.3%
- APAC: +7.3%
3) Wealth Managers AUM Growth Insights
Top 2 Wealth Managers Goals:
- Grow Net New Asset (NNA)
- Improve Profitability
Wealth Managers Cost-to-Income Ratio:
- Global Average – 75%
- Top Quartile (75% Above) – 64%
Regional Investible Wealth AUM Growth in 2024:
- Global – $191 trillion
- North America – $88 trillion
- APAC – $61 trillion
- EMEA – $38 trillion
- LATAM – $4 trillion
EMEA ~ Europe, the Middle East and Africa
LATAM ~ Latin America
Wealth Managers AUM Growth:
- Non-Organic – 72%
- Organic Growth (NNA) from Existing Advisors – 28%
3 Non-Organic Growth Type:
- Capital Markets – Market & Foreign Exchange (FX)
- Mergers & Acquisitions (M&A)
- Hiring Advisors – Net New Asset (NNA) from New Advisors
Wealth Managers AUM Growth Since 2014 by Type – Global:
- Market & Foreign Exchange (FX) – 32%
- Mergers & Acquisitions (M&A) – 9%
- Net New Asset (NNA) from New Advisors – 31%
- Organic Growth (NNA) from Existing Advisors – 28%
Wealth Managers AUM Growth Since 2014 by Type – North America:
- Market & Foreign Exchange (FX) – 49%
- Mergers & Acquisitions (M&A) – 6%
- Net New Asset (NNA) from New Advisors – 22%
- Organic Growth (NNA) from Existing Advisors – 22%
Wealth Managers AUM Growth Since 2014 by Type – APAC:
- Market & Foreign Exchange (FX) – 2%
- Mergers & Acquisitions (M&A) – 9%
- Net New Asset (NNA) from New Advisors – 39%
- Organic Growth (NNA) from Existing Advisors – 50%
Wealth Managers AUM Growth Since 2014 by Type – EMEA:
- Market & Foreign Exchange (FX) – 13%
- Mergers & Acquisitions (M&A) – 17%
- Net New Asset (NNA) from New Advisors – 47%
- Organic Growth (NNA) from Existing Advisors – 22%
Wealth Managers AUM Growth Since 2014 by Type – LATAM:
- Market & Foreign Exchange (FX) – 0%
- Mergers & Acquisitions (M&A) – 1%
- Net New Asset (NNA) from New Advisors – 37%
- Organic Growth (NNA) from Existing Advisors – 52%
Universal Banks Wealth Managers AUM Growth Since 2014 by Type:
- Market & Foreign Exchange (FX) – 30%
- Mergers & Acquisitions (M&A) – 9%
- Net New Asset (NNA) from New Advisors – 29%
- Organic Growth (NNA) from Existing Advisors – 32%
Pure-Play Wealth Managers AUM Growth Since 2014 by Type:
- Market & Foreign Exchange (FX) – 40%
- Mergers & Acquisitions (M&A) – 9%
- Net New Asset (NNA) from New Advisors – 36%
- Organic Growth (NNA) from Existing Advisors – 15%
4) Organic AUM Growth Insights
Top 4 Universal Banks Wealth Managers Organic AUM Growth Advantage:
- Internal referrals – Corporate & investment banking
- Retail banking channels – Mass affluent clients
- Capital strength – Balance sheet, customized lending, favourable deposit rates
- Brand recognition – Well-known names, especially investment banks for complex investment scenarios
Top 3 Structural Issues for Organic Growth:
- Advisors less focused on new client acquisition – Sizeable books, strong compensation based on absolute performance rather than incremental growth, little incentive to prospect
- New competitors gaining market share – Registered investment advisors (RIAs), digital platforms, direct-to-consumer models
- Administrative burdens – Complexity in compliance & operations, advisors spend more time on regulatory & administrative work including advice documentation, suitability checks & internal reporting. Advisors have less time for prospecting & business development.
Top Wealth Managers focus on high-impact levers for organic growth:
1) Client Acquisition:
- Invest in brand building to enhance trust and differentiation
- Leverage GenAI for more systematic lead generation and digital G2M
- Build systematic feeder funnels from adjacent business units or external partners
- Strengthen systematic referrals via clients, employees, and segment-specific partners
- Establish a hook offering building on unique capabilities
- Strengthen regional footprint to boost client proximity
- Modify advisor incentives to put stronger emphasis on NNA
2) Share of Wallet:
- Create data-driven product distribution systems to guide outreach with predictive insights
- Engage the next generation of clients through joint coverage and dedicated offering
- Move toward holistic advice, building on full client wealth view to drive product penetration
- Increase client engagement with omni-channel experience
3) Asset Retention:
- Create data-driven lead management systems to combat client churn
- Deepen client relationships with proactive, tailored communication
4) Advisor Retention:
- Develop state of the art advisor tooling including latest developments in GenAI
- Focus on retention by sharpening advisor value proposition
Boston Consulting Group (BCG)
BCG – Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
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