The report was made up of three surveys: The 2025 Global High Net Worth Insights Survey, which was based on views of 6,472 HNW individuals; the 2025 Global Wealth Management Executive Survey, which drew 141 responses in 10 markets, and the 2025 Global Relationship Manager Survey – including 1,306 responses from 10 markets.

The report noted that relationship managers are expected to deliver “highly personalised, multi-generational, geographical, and asset advisory services.” However, it said that most wealth management firms “lack the advanced tools and integrated technologies to support this need, limiting the ability of their RMs to deepen client relationships and fully capture the wealth transfer opportunity.”

“This technology deficit directly impacts RM satisfaction and earning potential, leading many of them to consider switching firms or establishing their own sub businesses. There’s also an emerging talent crisis, with 48 per cent of RMs expected to retire by 2040,” it said.

Wealth management firms risk losing assets and long-term relationships unless they plan for the long term in how to retain and keep the next generation of RM talent, it said.