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Community Banking Wealth Management Forecast 2024

2024 is here, and there are a lot of changes coming up in the finance and banking industry. So what is this year looking like for wealth management? How has the field evolved from the last few years to where we are today? What challenges and opportunities are we expecting to see with community banks and wealth management as a whole? This week, we flip the tables: Midwestern’s EVP & COO Cassie Taraboletti, CFP®, sits down with Michael Graham, CFP®, President of Midwestern Securities and a seasoned veteran and leader in the banking industry.

Michael takes his decades of experience to talk about the evolution of the field of wealth management, and shares his forecast on community banking and wealth management in 2024, and how bank leadership can prepare for the year ahead. Join us as we explore the strategies for helping community financial institutions build on and improve their investment and wealth management divisions, securing additional streams of non-interest income while ensuring world-class service for their customers.

Key Trends Shaping Community Banking Wealth Management in 2024

For this episode of Banking on Growth, Cassie Taraboletti, CFP®, joins Michael Graham, CFP® to unpack the changes in the wealth management landscape then and now, including the evolving expectations of banking customers, regulatory changes in banking and wealth management, operational challenges to look out for, and more. Michael highlights in particular, the way that wealth management as a service has changed from a nice-to-have to a must-have in recent years, and how banks can catch up to make sure their clients are served well. They talk about how forecasted market conditions will affect what investment strategies banks will recommend adding to their clients’ portfolios, how to leverage emerging technology to address expected operational challenges, and how banks can better adapt to these upcoming changes and potential bumps in the road.

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For more information on strengthening your retail wealth management division, contact us, and let’s start talking!