Global wealth rebounded in 2023, rising 4.3% to $477T after a flat 2022, driven by equities (+15.8%) and improved financial assets ($275T, +7%). North America and Western Europe led growth, while China slowed. Cross-border wealth hit $13T, with Switzerland still dominant, but UAE and Singapore accelerating. Profit margins remain under pressure, down 40% since 2007, with short-term gains tied to interest income. BCG highlights generative AI as a transformative lever, offering efficiencies in client acquisition, onboarding, and compliance, with potential time savings of 30–50%. Wealth managers that embrace GenAI early will gain scale, personalization, and long-term profitability.

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