The landscape of wealth management for ultra-high-net-worth individuals (UHNWI) continues to evolve, as highlighted by the Forbes 400 list of wealthiest individuals living in the USA. A recent article has analyzed the Forbes 400 list back to 1990 to determine the source of wealth creation across industries.

In this blog post, I will review this article and highlight what I believe Swiss wealth management banks should do to maintain their relevance and leadership. In sum, I will argue that Swiss wealth management banks should focus on understanding the primary sources of wealth creation among UHNWI, adapt to their evolving needs by embracing technology and digital transformation, expand and diversify their asset management services, and maintain personalized wealth management while ensuring robust regulatory and compliance frameworks.